Who do you use for Professional Indemnity?

Re: Who do you use for Professional Indemnity?

Mike Martin — Wed, 09 Dec 2009 13:47:18 GMT

[quote user="Richard Stephenson"] a QC before the disciplinary committee can cost as much as £10K per day (often hearings take 2 - 4 days some are much longer)

[/quote]

Is BBC's Panorama aware? Should there be accusations made about how much QCs charge? Does this give them an incentive to take 4 days rather than 2?

Re: Who do you use for Professional Indemnity?

Niall Taylor — Wed, 09 Dec 2009 12:25:42 GMT

[quote user="salome2001"]if you're going to talk security of emailed files, convert to pdf before sending: Word documents can be edited[/quote]

So can pdf's - beware!

Niall

Re: Who do you use for Professional Indemnity?

Hannah Wynne Richards — Wed, 09 Dec 2009 11:14:09 GMT

Even considering someone else is a bit like the ownwers who phone asking "What do you charge for a cat dental ?(that's the commonest one )

Wynne

Re: Who do you use for Professional Indemnity?

Ian Mostyn — Wed, 09 Dec 2009 10:35:11 GMT

I looked into a couple of other companies and decided that although i could reduce my costs a bit, what I was losing in terms of expertise, good advice and just the knowledge that they would "defend" me and not just pay out, was too important.

Cost of VDS cover per year - about £450 per vet. Reassurance given - priceless

Ian

Re: Who do you use for Professional Indemnity?

Richard Stephenson — Tue, 08 Dec 2009 23:15:50 GMT

[quote user="Chris Tansley"]Expensive, but worth it I think [/quote]

Dear Chris,

I don't think that the VDS are expensive - I always think it is the best money that I spend every year - just to know you have the VDS on the other end of the phone should you ever need them.

Evelyn's point about insurance for disciplinary hearings at the RCVS is very important. I think I'm correct in saying that the VDS are the only company which will cover you (up to £100K). To be properly represented with a QC before the disciplinary committee can cost as much as £10K per day (often hearings take 2 - 4 days some are much longer) and even if you win you are unable to recover costs.

In my view it is a false economy to insure with any company other than the VDS which is mutually owned by its members in any case.

Yours,

Richard Stephenson.

Re: Who do you use for Professional Indemnity?

Christopher Tansley — Tue, 08 Dec 2009 21:51:15 GMT

And the updates are brilliant!

Re: Who do you use for Professional Indemnity?

Christopher Tansley — Tue, 08 Dec 2009 21:50:20 GMT

I wouldn't consider using anyone else.

My wife used to work for a practice who did not use the VDS. Whe they did have a complaint the insurance co had no interest in the reputation of the vets, only in the cheapest option for them. They also had no advice service, the VDS did help with general advice despite them not being members (I was!).

Expensive, but worth it I think - and thats when I have a bill for next year on my desk!

Re: Who do you use for Professional Indemnity?

Mark Frost — Mon, 07 Dec 2009 16:15:41 GMT

When comparing VDS and other indemnity insurance companies I think the difference between cost and value is huge. If the decision was mine (and at the moment it isn't but the practice uses VDS), I would always go with VDS because of their experience in the field, friendly advisors and excellent advice. Plus defence of a reputation rather than keeping costs to a minimum make them worth it. Afraid I can't help with any other companies as I have no experience of them directly.

Re: Who do you use for Professional Indemnity?

Hannah Wynne Richards — Sun, 06 Dec 2009 19:01:14 GMT

VDS will also help you avoid trouble. If you're uncertain what to do, then VDS will give you telephone advice which could easily defuse a nasty situation, and avoid a complaint

Wynne

Re: Who do you use for Professional Indemnity?

Evelyn Barbour-Hill — Sun, 06 Dec 2009 18:38:20 GMT

[quote user="Jacquin Mitchell"]

I'm just wondering if there are alternatives to the VDS?

Jacq

[/quote]

In short: no.

They are the Defence Society: they will defend you.

The insurance companies will pay up, whether you were right or wrong, if they think it will be cheaper.

And the VDS will defend you in a RCVS disciplinary case.

Re: Who do you use for Professional Indemnity?

Ian Mostyn — Sat, 05 Dec 2009 22:11:39 GMT

I wanted them to be edited. They had a look at a couple of letters I sent to RCVS and made suggestions so I didn't want them to be secure. Send a word doc, let their experts review them and make any improvements. Good point about pdf though. Openoffice will convert them using their free software

Ian

Re: Who do you use for Professional Indemnity?

salome2001 — Sat, 05 Dec 2009 20:51:42 GMT

[quote user="Ian Mostyn"]

You can email the office but they will want most communication to be in hard copy writing to be on the safe side. I have definitely emailed them word documents

Ian

[/quote]

if you're going to talk security of emailed files, convert to pdf before sending: Word documents can be edited

Re: Who do you use for Professional Indemnity?

Ian Mostyn — Sat, 05 Dec 2009 20:48:20 GMT

You can email the office but they will want most communication to be in hard copy writing to be on the safe side. I have definitely emailed them word documents

Ian

Re: Who do you use for Professional Indemnity?

salome2001 — Sat, 05 Dec 2009 20:01:29 GMT

there are some (branches of big general insurance companies) but the VDS seems to be the only one that actually specialises in veterinary practice. TBH when I started looking into it I just thought, "you know, I have better things to be doing with my time" and just went for the VDS

(may I add, I was quite miffed that there is no way to contact them online!! 21st century, guys!)