Evaluation of the stability & affordability of medical indemnity insurance

Release Date
16 November 2020

The Australian Government Actuary (AGA) was commissioned by The Department of Health to undertake an independent actuarial review of the Commonwealth Medical Indemnity schemes. This responds to the Medical and Midwife Indemnity Legislation Amendment Act 2019 (Amendment Act), which required the Minister for Health to prepare and table a report which evaluates the stability of the medical indemnity insurance industry and the affordability of medical indemnity insurance. The report was tabled in Parliament in November 2020.

The Commonwealth Medical Indemnity schemes comprises nine schemes that provide medical and professional indemnity support for privately practising medical practitioners, allied health professionals and eligible midwives.

This report reviews the experience of the Commonwealth Medical Indemnity schemes against the objectives of supporting the stability of the medical indemnity insurance industry, the affordability of premiums and ensuring the availability of medical indemnity insurance to privately practising medical practitioners, allied health professionals and eligible midwives. This report examines the market experience prior to the impact of the COVID-19 pandemic.

This report has been prepared by the Australian Government Actuary. It is intended to meet the requirements of Amendment Act to assess the stability and affordability of medical indemnity insurance. Any proposed use of this report which goes beyond its stated purpose should be discussed with the AGA.