To counter the exponential rise in medical malpractice claims in recent years, Genoa Underwriting Managers and KZN based Lombard Insurance Company have launched a specialised Medical Malpractice Insurance product that will completely change the way local doctors and specialists manage risk.
Michael-John Damant, a director of Genoa, said that a new offering, which took 14 months to formulate, will factor in the many challenges faced by today’s doctors. In addition, the new policy would give the South African medical fraternity access to a locally grown product where doctors and specialist will have improved protection and recourse to either the Financial Advisory and Intermediary Services Act or the South African Ombudsman of Short Term Insurance (OSTI).
