Excess Layer Insurance

Insurance claims made in the medical sector – whether against equipment manufacturers or individual surgeons – can soon become extremely expensive to defend.

Insurance claims made in the medical sector – whether against equipment manufacturers or individual surgeons – can soon become extremely expensive to defend. In such circumstances, it may be that the core insurance policy indemnity limit (the maximum amount that the policy will payout in the event of a claim) isn’t enough to cover the potential exposure. As a medical professional, it’s clearly not good enough to have this potential risk hanging over you or a business.

It could be that one of your clients insists on a specified, higher amount of cover, as a contractual obligation. Or it could be that you or your firm is involved in a very large, high value project, where you feel more PI cover is needed than is available under your standard policy. This is where excess layer insurance comes into play.

What is excess layer insurance?

Where the PI cover afforded by your principle insurer is inadequate, we can arrange for an extra ‘layer’ of cover to be provided by a second insurer. This is relatively common practice in the insurance industry, and allows you the peace of mind that comes from knowing that if something were to go wrong and an extreme claims event occurred, you have an adequate overall indemnity limit in place.

Excess layer cover can be relatively cost effective. Leveraging our extensive knowledge of the medical industry and close working relationships with underwriters and insurers, we take data driven decisions. Typically, excess layer cover will be less expense than your core cover.

To find out more about how we can help with your excess layer insurance requirements, simply pick up the phone and speak with one of our specialist advisors.

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