FED: More medical insurance funds facing financial problems
It's been reported, several organisations that provide medical indemnity cover to doctorscould be facing the same financial problems as United Medical Protection.
The insurance regulator, the Australian Prudential Regulation Authority has warnedthat the medical insurance industry needs more than $500 million in fresh capital to meetclaims.
APRA has told today's Australian newspaper several players will be in a negative capitalposition unless the capital is met.
The paper reports industry sources saying that at least two other funds will have toraise their premiums to make up for their financial struggles.
UMP, the company that insures up to 60 per cent of Australian doctors, is already onthe brink of collapse after the federal government refused to offer more than $35 millionassistance.
AAP RTV rk/psm/
KEYWORD: INDEMNITY APRA (SYDNEY)
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