Medical Professional Coverage Costs Under Scrutiny
Medical Professional Coverage Costs Under Scrutiny
The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.
Amid rising concerns, the Australian Medical Association (AMA) has flagged the escalating expenses associated with indemnity insurance premiums as a serious issue that demands attention.
Following a heated discussion at a recent national conference held on the Gold Coast, the AMA and its New South Wales branch convened with a number of medical defence organisations to tackle this pressing matter.
During these meetings, participants delved into changes in healthcare delivery and the evolving scopes of medical practice—factors contributing significantly to the rising costs within the medical indemnity sector.
According to a statement published on the AMA’s website, the Medical Defence Organisations (MDOs), which largely operate as member-based mutual entities, acknowledged the industry's growing unease. They shared global insurance market trends and emphasized the importance of maintaining open communication and collaborative efforts with the AMA to address systemic policy issues. Despite the need for cooperation, the constraints of competition law were noted as a limiting factor.
The organizations represented at the meeting included key industry players such as Avant, MDA National, Medical Indemnity Protection Society, MIGA, and Tego.
In its latest report, Avant informed Insurance News that their average rate increments have managed to remain below inflation for several renewal periods. Nevertheless, certain specialized fields have experienced sharp double-digit rate hikes due to specific claim frequencies and severities, affecting less than 1% of their membership.
Please Note: We do not endorse any specific products or companies. Some content is sourced from third parties, including press releases, and may not be independently verified for accuracy or completeness.
A new Life Code Compliance Committee inquiry has put fresh attention on the way life insurers manage longer-running income protection insurance and total and permanent disability claims, finding that clearer communication and earlier information requests could reduce avoidable stress for people waiting on claim decisions. - read more
Australia’s life insurance industry has moved mental health cover back to the centre of the affordability debate, after the Council of Australian Life Insurers released its response on 30 September 2026 to the independent review of the Life Insurance Code of Practice. For workers who rely on income protection insurance, the issue is practical: mental health conditions can affect earning capacity just as seriously as physical illness, but changes designed to keep premiums manageable may also alter what is covered. - read more
ASIC’s continuing focus on superannuation member services has put another practical issue in front of Australian workers: insurance inside super is not just about whether cover exists, but whether members can understand and use it when they need help. Recent regulatory attention on trustee administration, communication and claims support is a timely reminder for anyone relying on salary continuance or income protection benefits through their fund. - read more
Australia’s financial advice reform agenda has taken another important step, with industry attention turning to how simpler, more accessible guidance could help consumers make better decisions about insurance. For workers who rely on income insurance or salary continuance cover, the issue is more practical than political: many people hold cover they do not fully understand until illness or injury forces them to test it. - read more
Australia’s financial advice reform debate has moved back into the spotlight, with life insurers and advice groups continuing to argue that many people need simpler, more affordable help to understand the insurance they already hold. For income insurance customers, the issue is practical: cover can look straightforward on a statement, but the detail often sits in definitions, waiting periods, offsets, exclusions and claim conditions. - read more
Income protection insurance can provide replacement income if illness or injury leaves you unable to work. The challenge is choosing cover that reflects your financial commitments without paying for features or benefit levels that do not suit your circumstances. - read more
Income protection insurance can provide replacement income if illness or injury prevents you from working. If you have a pre-existing medical condition, the application, policy terms and claims process may need closer attention because insurers assess health history when deciding whether to offer cover and on what terms. - read more
When life throws unexpected challenges your way, income insurance can be a financial lifesaver. Essentially, it's a policy designed to replace a portion of your income if you're unable to work due to illness or injury. Imagine not having to worry about bills piling up while you focus on recovery. That's the peace of mind income insurance aims to provide. - read more
Income protection insurance is a type of insurance policy designed to replace a portion of your income if you are unable to work due to illness or injury. This financial safety net can help cover essential living expenses, such as mortgage repayments, utility bills, and daily costs, ensuring you maintain your standard of living during tough times. - read more
Income protection through superannuation, salary continuance insurance and standalone income protection can all help replace income if illness or injury stops you working, but they differ in ownership, funding, tax treatment, flexibility and claims access. - read more
Start Here !
Apply now for your free Insurance assessment and price comparisons!
No comments yet. Be the first to share your thoughts.