CBG Group, a UK-based insurance broker and financial services intermediary, has launched Palm, a specialist standalone healthcare division, as part of entry into the medical malpractice sector.
According to the CBG Group, Palm will offer specialist coverage to protect corporate healthcare organizations, including private hospitals, GP practices, fertility clinics, and virtually any type of primary health care providers, facing potential criminal and civil action.
CBG said that the Palm’s core product will offer comprehensive protection against ‘vicarious liability’ – the legal liability of any employer that has the ability or duty to control the activities of its employees.
The kind of coverage includes: professional malpractice & liability cover up to £25m, compliance with ‘schedule nine’, a PCT service contract requirement.
The coverage also include ‘MEDiC’ product, which, in certain cases, allows employers to pay the individual indemnity for employed doctors, as required by law, to ensure the correct protection applies at all times.
CBG said Palm is a partnership between CBG, MPS Risk Solutions, a Medical Protection Society’s (MPS) insurance company and Chartis Insurance.
CBG group business development director Dave Mackie said that with the government’s white paper ‘Equality and Excellence: Liberating the NHS’ changing the face of the NHS, we believe this is an ideal time to be involved in a sector which traditionally brokers have shied away from.