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Medical indemnity insurers must report any HIH insurance exposure
President of the AMA, Dr Kerryn Phelps, said today that medical indemnity insurance providers should immediately inform their members of the extent of exposure that they may have in respect of reinsurance cover provided through HIH insurance, following the appointment by the NSW Supreme Court of KPMG as provisional liquidator to HIH Insurance.
Dr Phelps said many medical practitioners would have serious concerns if their indemnity insurers were exposed to any risk.
"Given that the whole issue of medical indemnity insurance is at crisis point, it is incumbent on all insurers to divulge their potential financial exposure, and provide this information to members immediately," Dr Phelps said.
"Openness and honesty is required at this time."