Servca acquires healthcare specialist Lloyd’s broker

Lloyd’s broker Servca has today (2 November 2022) acquired independent medical insurance specialist Medicas.

Medicas also operates in the Lloyd’s market and offers a range of medical indemnity, medical malpractice and healthcare liability insurance for healthcare groups, entities and individual practitioners.

The firm is owned and managed by medical professionals, employs a legal and clinical advisory panel and is backed with A rated capacity.

It works with clients to handle complaints, defend and pay claims and manage crises.

Servca is an independent Lloyd’s broker specialising in professional indemnity, medical malpractice and healthcare liability risks – its purchase of Medicas will grow its medical expertise and capabilities in this line.

Dr Edwin Rajadurai, Servca’s managing director, has also taken on a role as managing director at Medicas as part of the acquisition – he will be supported by the legal and medical board of Medicas.

He said: “Unlike a conventional broker, we understand the clinical elements of our clients’ work, allowing us to have an in-depth conversation with insurers and underwriters when structuring policies.”

Peace of mind

Rajadurai continued: “We want to give healthcare professionals peace of mind and remove the stress of potentially being unrepresented in a legal claim or complaint by minimising and removing any gaps in cover and ensuring their financial stability by offering flexibility in payments.

“As a qualified medical doctor with extensive clinical knowledge, I am very much aware how important it is for medical professionals and organisations to secure the right insurance – giving adequate cover to protect them against human error, malfunction or potential negligence.”

He added that Medicas was entirely focused on medical indemnity and healthcare liability risks, enabling it to create bespoke indemnity solutions.