Kuala Lumpur — December 02, 2015 — ACE Jerneh, an ACE Group company, announced today the launch of ACE Elite Medical Malpractice Insurance, a policy designed to provide individual medical practitioners and healthcare facilities with financial relief in the event of medical malpractice liability claims.
In Malaysia, medical malpractice litigation is on the rise and shows no sign of abating. Allegations of failure to diagnose, improper treatment and failure to warn patients of the potential risks involved in proposed treatments, are becoming commonplace. According to the Civil Division of the Malaysian Attorney General’s Chambers, the average number of medical negligence cases has risen by 46.8% in the five years from 2007 to 2011 compared to 2002-061. Defending these can often be time consuming, expensive, and extremely complex and challenging.
A suite of professional liability insurance solutions, the ACE Elite Medical Malpractice Policy can be tailored for healthcare practitioners and facilities to protect their professional and reputational risks. Besides providing financial relief to offset costs of lawsuits and damages awarded by courts, the policy offers coverage for a spectrum of industry exposures. These include Good Samaritan acts, vicarious liability for contractors or subcontractors, as well as unintentional infringement of intellectual property, cyber space and personal privacy. The product not only covers individual healthcare practitioners but also healthcare facilities and traditional Chinese medicine practitioners.
“Science and technology have contributed immensely to medical advancement. As the industry grows and evolves, so do the risk exposures of the healthcare practitioners and providers,” said Steve Crouch, Country President of ACE Jerneh.
“ACE has been underwriting medical malpractice insurance globally for nearly two decades and we understand the risks associated with an evolving healthcare landscape. The ACE Elite Medical Malpractice Policy was developed to respond to the changing Asian healthcare environment through broad coverage ranging from the most common such as civil liability claims to the rare such as unintentional intellectual property infringement,” he added.
1Hambali, S.N. & Khodapanahandeh, S. A review of medical malpractice issues in Malaysia under Tort litigation system Global Journal of Health Science 2014; 6(4):76-83
About ACE Jerneh
ACE Jerneh Insurance Berhad (ACE Jerneh) in Malaysia is a company of ACE Group, one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.
ACE Jerneh provides a comprehensive range of general insurance solutions for large corporates, small and medium-sized businesses, as well as individuals through a multitude of distribution channels. With a strong underwriting culture, ACE Jerneh offers responsive service and market leadership built on financial strength. The company has a network of 23 branches and more than 2,000 agents.
More information can be found at http://www.acejerneh.com.my
April Lim: +6 03 2058 3315; firstname.lastname@example.org