(BRK.A), (BRK.B)
Berkshire Hathaway Specialty Insurance Company (BHSI) and Tego Insurance have entered into an exclusive underwriting agreement to provide medical indemnity insurance to medical practitioners in Australia.
“We are delighted to work with Tego to bring BHSI’s medical indemnity experience and unrivalled financial backing to the Australian market,” said Tony Bainbridge, Head of Healthcare, Australia, BHSI. “Our combined offering will bring additional choice, flexibility and financial security to Australian doctors.”
“The word Tego originates from Latin, meaning to defend and protect, and that is exactly what we focus on,” said Eric Lowenstein, Chief Executive Officer of Tego. “With a focus on superior customer service and industry-leading products – value is always top of mind.”
With BHSI’s entry into the Australian marketplace, doctors have a new choice in medical indemnity insurance, supported by a technically strong underwriting and claims handling team.
“Claims and complaints can be very stressful for practitioners. We are committed to excellence in claims handling, technical expertise and efficiency,” said Nicole Kroesche, Head of Healthcare Claims, BHSI. “Working closely with the practitioner and supporting them through a claim allows them to get back to focusing on providing quality patient care and worrying less about the claim itself.”
The introduction of innovative products to address the changes in the medical practice, and also the technology trends affecting the medical practitioner, is the goal of Tego and BHSI. As part of its underwriting process, BHSI reviews the individual characteristics of each medical practice since all practices in a particular medical specialty may not automatically pose the same level of risk. This tailored pricing approach may result in significant savings for individual practices.
© 2016 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.