Storm brews in SA’s medical malpractice insurance market
Local medical malpractice insurers are unhappy that the UK-based Medical Protection Society is allowed to operate in SA without being a licensed financial services provider
27 May 2021 - 05:00
A potential storm is brewing in SA’s medical malpractice insurance market. Local providers of medical malpractice insurance are unhappy that the biggest provider to the domestic medical fraternity, the UK-based Medical Protection Society (MPS), is not a licensed financial service provider in SA. That means it doesn’t have to comply with local capital requirements, policy protection rules or ombudsman regulations.
Local insurers say this gives MPS an unfair advantage in SA where, for more than 60 years, it has been providing professional indemnity cover...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.