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A Message from QBE Insurance (Australia) Limited
QBE is pleased to offer professional indemnity insurance to the medical profession in Australia through our association with Invivo. The complexity involved in correctly assessing and managing medical risk exposures for doctors and then competitively pricing and transferring those risks to insurers requires specialist knowledge. Invivo has the knowledge and expertise. Our alignment and 50% ownership of Invivo is a demonstration of our commitment to provide exceptional service and products to the Australian medical profession.
Whilst we rely on Invivo to negotiate, underwrite and provide risk management to doctors and also to manage claims, QBE carries 100% of the risk.
QBE is an Australian company, regulated by APRA, writing in excess of A$18 billion in premiums through our operations in 45 countries (www.QBE.com for more information).
Terry Ibbotson
CEO - QBE Insurance Australia
Invivo is a corporate authorised representative of QBE Insurance (Australia) Limited, which also owns half of Invivo.
QBE Insurance (Australia) Limited is a member of the QBE Insurance Group (ASX: QBE). QBE Insurance Group is Australia's largest international general insurance and reinsurance group, and one of the top 25 insurers and reinsurers worldwide. QBE Insurance Group operates in all key insurance markets and has more than 7,900 employees in 44 countries worldwide.
Invivo has exclusive arrangements with QBE to distribute, underwrite and manage professional indemnity insurance covering medical practitioners. This arrangement provides the practitioner with the knowledge, focus and expertise of the niche team at Invivo and with the strength and stability of QBE.
The strength and depth of the partnership between Invivo and QBE provides doctors with certainty for the long term.
The most common concern doctors have when considering a new insurer is gaps in their tail cover. At Invivo, we have always understood this concern and have designed a unique solution. We analyse each doctor’s tail cover requirements through the application process and provide appropriate cover as part of your individual Invivo policy and quote. In most cases, this cover is provided as part of our premium to you at no additional cost.
Your colleagues have moved to Invivo for a range of reasons, including:
Peace of mind
- • QBE is a major Australian insurer with net assets of over $8.5B and an A+ insurance rating
- • QBE's 50% shareholding demonstrates their commitment to this market
- • Your "tail" is covered; we offer all the retroactive cover you need
Highly responsive, personal service
- • We have a 24-hour medico-legal hotline
- • We have a strong resolve to defend claims, not settle
- • We actively manage claims and incidents, to resolve issues quickly
- • We are committed to supporting you and your reputation
A focus on risk
- • We price according to your risk, not your ability to pay
- • We offer loss prevention support relevant to your practice
- • We aim to reduce premiums by reducing risk
A premier product
- • Key legal expenses cover is built in to our policy
- • Many doctors do not require a separate policy to cover employees
- • Many doctors do not require a separate policy to cover a practice company
We know that this approach reduces the cost of providing insurance and therefore, enables us to offer lower premiums in the long term.
Because Invivo prices your premium based on insurance risk instead of on your income, many doctors have received a lower premium with Invivo.
In addition to risk based premiums, Invivo/QBE are able to maintain lower costs for claims, reinsurance and legal expenses than some of our smaller scaled competitors. This also helps ensure the premium we offer will remain competitive not only today, but in the future.
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Yes. Invivo provides qualified medico-legal advice through our helpline (1800 103 779) 24 hours per day seven days per week.
No. Invivo does not charge a membership payment.
In additional to the $20 million medical indemnity cover, we provide up to $500,000 cover for Legal Services Costs & Expenses associated with official investigations, examinations or inquiries (eg Royal Commission, State or Commonwealth Privacy Commission or Coronial Enquiry, ASIC or a disciplinary committee of an association or professional body).
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Your eligibility for ROCS & PSS does not change when insuring through Invivo. Invivo and QBE have signed a contract with Medicare Australia and the Department of Health and Ageing and have access to all government schemes including ROCS and PSS.
If the indemnity offered by your employer does not cover all aspects of your professional practice, you need to supplement this with your own indemnity cover so that you are not left exposed. If you conduct no private practice outside your employment, you may not need to purchase Invivo's medical indemnity insurance. Call Invivo to discuss your individual circumstances.
If you are a sole or independent practitioner, the individual medical indemnity policy from Invivo automatically provides cover for you, your employees and your practice company should an action be taken against them.
Employees are covered under the policy only if at the relevant time they were engaged in assisting you personally. It is not our intention to cover employees whilst they were acting for another doctor with whom you may share premises.
Your practice company is covered under the policy only if it is used by you to run your practice. Many other insurers offer this cover, but only as a separate policy with an additional premium.
If any of your staff are medical practitioners, it is likely that they will require separate indemnity insurance. Please contact us to discuss your circumstances and we will advise how our policy would respond.
If you are in a partnership or group environment, Invivo can tailor a solution that both meets your independent requirements and covers those exposures that arise out of the corporate environment, even if we do not provide individual cover to all of your fellow practitioners.
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The steps to switch your insurance to Invivo are easy.
- Fill out an Invivo proposal online or download an Invivo proposal, complete and send it to us by fax or post. A proposal form can be obtained through our website www.invivo.com.au or by calling 1800 103 779.
- Following Invivo's receipt of your proposal form, and subject to any required underwriting clarifications, we will send you written notice as to whether you have been successful in your application for insurance with Invivo. If your application has been accepted, you will receive a written offer of insurance along with an invoice and billing details.
- If you are cancelling mid-policy from another insurer you need to advise Invivo the date when the cancellation is effective so that Invivo can issue you a policy that ensures that there are no gaps in your indemnity cover.
- Finally, you must return your offer acceptance in order to activate your insurance. Until Invivo has received your signed acceptance, you do not have insurance through us.
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Disclosure and proposal forms are here
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If you ever have a claim while insured with Invivo you will appreciate the importance of a strong defence, member involvement and ardent support
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