Your Insurance Policy
OTSIS is an Introducer Appointed Representative (IAR) of the Medical Insurance Consultants Ltd (MIC), and MIC provides members of OTSIS with an individual policy of insurance that satisfies the requirements set by independent hospitals, and that provides the level of protection expected by members and their patients.
As a member of OTSIS, your individual policy of insurance provided to you by MIC covers the payment of compensation claims for:
- Clinical negligence (excludes claims covered by the NHS Indemnity Scheme)
- Breach of confidence
- Public liability
- Loss of documents
- Good Samaritan Acts worldwide
In addition, your individual policy of insurance covers:
- Defence costs for any claim covered under the policy
- Defence costs for any breach of the Data Protection Act
- Legal costs and expenses for:
- General Medical Council inquiries
- Disciplinary inquiries
- Criminal investigations
The main features of the policy are:
- Claims made and notified policy
- 20 years run-off cover following death or permanent retirement from practice
- £10m limit of indemnity for each and every claim and in the annual aggregate (£5 million limits available on request)
A ‘claims made’ policy provides cover for claims first made against the insured and notified to the insurers during the period of insurance. ‘Claims made’ policies also provide indemnity in respect of claims first made against the insured after the period of insurance that arise from incidents or circumstances properly notified to the insurers during the period of insurance.
Full details of all the benefits of membership, including the terms and conditions of the policy of insurance, will be provided to prospective scheme members who apply for a membership quote.