Medical/Dental/ Allied Health Package

We provide coverage for Health Practice Business Owners risks & third party liabilities.

Digital Healthcare Companies

We work with all these businesses:
E-health Ventures, Medical Device Manufacturers, Health Research Companies, Telehealth Advisors, HealthTech Ventures, Health Associations, Mobile Health App Providers, Virtual Hospitals, E-pharmacies, Artificial Intelligence Platforms, Health & Wellness Services.

What Our Clients Say

Cyber Data-Risk Managers are a cyber-risk thought leader with a strong commitment to understanding the practical and system constraints and considerations of their clients, they introduced the first cyber-risk insurance product to my organisation when we were seeking cover, at a time when other insurers did not have solutions addressing either our needs, or those of our members in dental practices. Subsequently, that market has developed, but the company has stayed ahead of the risk curve

Garry Pearson
OAM – ex CEO Australian Dental Association Victorian Branch/NFP Consultant/ Business Coach

Cyber Data Risk Managers went above and beyond in securing our[insurance needs. True professionals who know the insurance game

Michael Herman
Director at KPeyes /Medical Business Intelligence systems

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Running a practice can be risky. Practice owners can carry a number of risks and liabilities which can mean unnecessary legal expenses, fines and loss of profit for your practice. Insurance helps in offsetting the cost of an incident by letting you make a claim for a first party loss ( related to your own business) or third party (another business or individual you are liable for) pay out and related expenses.

A claim is made when you make a formal request to your insurance company to receive money to help you pay for expenses caused by a policy event like a cyber incident, personal injury that is covered by your insurance. The insurance company validates the claim and, once approved, issues payment to the insured or an approved interested party on behalf of the insured. A claim is always made for a dollar amount and is a request for money.

  • Vicarious Medical Indemnity insurance
  • Management Liability Insurance
  • Cyber Liability Insurance
  • Business Package including Public Liability.
  • Workers Compensation

Other insurances (Trade Mark Insurance, Legal Expense Insurance,etc)
Vicarious medical indemnity policy is a professional negligence policy. It covers you should a medical practitioner face a claim or be found guilty of negligence in discharging advice or their duty within the medical practice.

Management Liability Insurance is a like Directors & Officers insurance policy. It covers the practice and its board for any wrong doing in context of a breach of a legislation (law under which the practice operates).

Cyber Liability: Health data/information of patients held by a medical practice is classified as sensitive information and covered by Privacy Act. Cyber insurance offsets any cyber incident related business interruption and loss of profit plus the notification costs and legal fees which may arise out of a cyber or hacking incident.

Business Package insurance covers your practice for contents damage and replacement costs, electronic equipment damage &replacement costs, loss of money on premises and property damage from flood, fire, burglary and related business interruption if you are not able to access your practice.

Each policy can have sub clauses and exclusions – which apply.

You must have an idea of value of your key assets, your legal obligations, your projected revenue, whether you shall hire full time or contractors as staff, how will you store your patient records, risk management and governance practices you intend to put in place, lease arrangements with the landlord, having a business plan etc in place. You must then decide on limits and excess for each insurance policy you wish to apply for.

You must assess premiums costs, coverage, limits and exclusions of the policy. Once you bind your policy, you must ensure you are conforming to governance and risk management. Insurance never pays for negligence – therefore make sure you train your staff and keep up with your compliance.

Insurers have very specific questions for each class of insurance listed in their proposal form. A insurance broker will share the proposal forms with you – you can clarify those questions with the broker when providing the information. Sometimes insurance companies may ask for more information specific to your circumstances etc. It is best to get the process started as soon as possible to understand the requirements – like seeking insurance proposals earlier on in the process and assessing what information you need to obtain.

“The information provided is general advice only and does not take account of your personal circumstances or needs. Please consult your Risk Advisor for seeking advice before taking action on any part of the above.”