Friday, September 7, 2007

Medical Malpractice Insurance Product for the Medical Tourism Industry

New insurance coverage is now available to protect individuals should medical malpractice occur while seeking healthcare services in a foreign country.

Aug. 17, 2007 --- AOS Assurance Company Limited today announced the launch of a new and unique issuance of insurance to cover people who travel outside their country for medical procedures, for either elective or non-elective procedures. Patient Medical Malpractice Insurance (PMMI) addresses the financial and personal risks related to out of domicile medical travel. PMMI resolves the medical tourist's financial risk. It is "first person" insurance, much like traditional travel insurance, that is purchased by the patient before traveling for the medical or surgical procedure. Should a medical malpractice occur abroad, the claim is handled in accordance with the patient's own home country standards and claims are paid in U.S. currency. There are no lawyers or lawsuits involved, and claims are estimated to be settled 80 percent faster than the traditional litigation environment.

This will provide necessary insurance for medical tourists. This development will also help mitigate the liability risk assumed by medical tourism companies (portals) arranging the foreign practitioner and hospital on behalf of the patient, should the patient purchase the product beforehand.

AOS has also developed a group version of the PMMI product called GMMI (Group Medical Malpractice Insurance) to be used in the growing group insurance market.

Source: eWorldWire

Brought to you by Healthbase - Medical Tourism Facilitator

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