Another bit of “policy small print” has raised its ugly head.
You automatically assume that so long as you have provided all that was necessary to claim on your practice’s Locum Insurance policy you would be paid the amount that was insured for the period of the illness less the deferred period that was chosen.
Here is a good example of what can go wrong if you are not careful.
Let us just suppose that your practice makes a claim in September 2014 and the policy was due for renewal in November 2014. Which option would you choose?
Option 1 -You renew the policy and all goes well and the claim is paid.
Option 2 – This is what can happen – You decide to move, for whatever reason, your Locum Insurance to another provider? Your claim will cease if you do not renew your Locum Insurance policy with your current provider.
Fortunately there are not many providers that operate Option 2, but you need to be aware that it does exist and check your policy wording. Medical Insurance Consultants do not operate such a policy!