?Medical indemnity premiums have fallen for the third year in a row meaning professional cover remains both available and affordable for doctors,? Minister for Revenue and Assistant Treasurer, Peter Dutton, said.
In releasing the fourth medical indemnity monitoring report by the Australian Competition and Consumer Commission (ACCC) for the Australian Government, Mr Dutton said the benefits of the Government?s medical indemnity reform package are continuing to help doctors.
?This is again good news for both doctors and consumers of medical services. This report is further evidence that the medical and legal reforms undertaken by the Australian Government, States and Territories have had a positive impact on the availability and affordability of medical indemnity insurance,? Mr Dutton said.
The average medical indemnity premium fell by 6 per cent in 2005-06, to $5537.
The ACCC report analyses the costs, premiums and financial performance of medical indemnity insurers and assesses the actuarial and commercial justification of medical indemnity premiums. It found that the premiums of the six medical indemnity insurers monitored are actuarially and commercially justified.