Although not a speciality specific indemnity scheme in the purest sense, SEMPRIS membership comprises a unique and limited selection of specialties, ensuring that underwriting, claims and subscriptions are not adversely affected or cross-subsidised by high claiming specialties.
Whilst individual subscriptions may vary in line with movements in net income and or nature of work, underlying premiums have not risen since the launch of the scheme in 2010 – by maintaining effective and disciplined underwriting standards we sincerely hope to maintain this record.
The proposal form asks for detailed information regarding your scope of practice, the number of sessions you work and any previous claims against you. Based on this information, the Underwriters will assess your risk against standardised criteria and calculate your individual subscription for your chosen level of policy excess.
The SEMPRIS policy provides limits for £10m Any One Claim (AOC) subject to a £20m annual aggregate in any policy year. The policy provides a sub-limit of indemnity for disciplinary and coronial costs. We also offer limits of £15m AOC & £30m annual aggregate and £20m AOC & £40m annual aggregate.
Your subscription and policy includes a twenty-one year fully insured, non-discretionary Extended Reporting Period (run-off cover) as standard in the event of Death, Retirement and / or Permanent Disability.
The policy excess is the amount you will personally have to bear, only in the event of a compensation claim being made against you. The excess does not apply to other membership benefits. The higher the excess, the lower the subscription will be. You may request a quotation for one of more levels of excess to help you decide.