ETHIO LIFE AND GENERAL INSURANCE S.C. (ELiG) today announced official lunching of a new insurance product to Ethiopian market, called Doctors’ and Practitioners Professional Indemnity Insurance at Addis Ababa Hilton in the presence of various stakeholders. Though it is widely available in the Western countries, this insurance policy is the 1st of-its-kind in Ethiopian market.
The history of medical institutions in Ethiopia, according to some reports and research findings, undergone vibrant changes since the birth of the 1st modern government run hospital, Menelik II hospital, which was built by Emperor Menelik in 1906. Today, however, unlike before, medical services in the country are provided by the public and as well as private sector.
Following the expansion of medical teaching across the nation, the number of Ethiopian doctors continues to rise. According reliable sources, twelve years ago, there were only three medical schools all over the country. Now there are 28 public and 8 private referral and teaching colleges with the capacity to graduate over 2,000 doctors a year.
In light of the forgoing development, one cannot be caught by surprise that doctor-to-patient ratio has accordingly fallen to one-to-15,000. The government is said working hard with the aim of reducing the ratio even more to one-to -10,000. Beside, with an additional 13 universities already selected to begin offering medical training, the ratio will drop even further.
In respect of the number of doctors and practitioners in the country, there are above 11,093 Medical Doctors, 4,460 Midwives, 668 Anesthetists, 1042 Dental Associates, 628 medical Radiology Technologists and 628 Biomedical Scientist at county level.
In light of the above background, ELiG, with envision of being a leader in the insurance industry in the delivery of innovative insurance products and services to the homes of million, has been dedicating into rigorous research works in the past to uncover the unmeet insurance need of Doctors’ and Practitioners’ in the country.
Its finding ultimately confirms that one of the chief worry or concern of health professional in Ethiopia is the Professional Liability falling on them as a result of errors and omissions committed by them whilst rendering professional service. Liability onto them has serious financial implications on Medical doctors’ and Practitioners’ finances and practices. A number of cases have been reported to the concerned regulatory bodies.
ELiG is, therefore; pleased offering the new “Doctors’ and Practitioners’ Professional Indemnity Insurance to the nation’s health professionals across the country. ELiG’s product is intended to cover medical malpractice by medical Doctors and Practitioners. The new product, being backed by A++ rated Re-insurance Company, Africa-re was approved by the National Bank of Ethiopia.
The Policy terms provide cover to civil liability of Doctors’ and Practitioners’ as well as indemnity arising out of bodily injury and /or death of patient and any litigation cost there from.
ELiG believes the insurance policy promotes compliance to medical professionals’ code of Ethics and legal requirements within medical professional. Hence it is the right insurance for Doctors’ and Medical Practitioners at the right time!
The new insurance product is now being offered by all the general insurance branches of the Company, 17 at present, across the country with reasonable price.
In addition to the above newly introduced products, ELiG has developed and offered 2 Life Insurance Products called School Fee Guarantee” and Women Specific Group Credit Life Micro insurance products in the past.
All ELiG’s unique products which could not be found elsewhere in Ethiopian market are a great example of how ELiG learns together with the industries and clients it serves to better meet their strategic needs. ELiG vows looking forward to building similar relationships with other platforms across the country and to expanding its offering to this sector.