The Medical Indemnity Protection Society (MIPS) is a not-for-profit organisation and medical defence organisation formed to:
- support and protect the character and interests of its members;
- promote honourable and discourage irregular practice;
- consider, originate, promote and support or oppose legislative or other measures affecting members
MIPS’ main role is to assist members in the event that there is an adverse outcome in the course of their professional practice. This assistance includes collegiate support and understanding, in addition to the management of complaints and claims against members.
MIPS milestones:
- 1988 – MIPS is established to protect the interests of healthcare professionals and students in 1988 by the Medical Protection Society (MPS) UK. From 1988 to 1 July 2003 MIPS offered “non-insurance” discretionary indemnity. Members could approach MIPS for assistance for any matter arising from their professional practice including Medical Indemnity matters.
- 1998 – MIPS separates from its UK parent with approximately 3,000 members.
- 2001 – Distress of major indemnity insurers in Australia, including the collapse of general insurer HIH (considered to be the largest corporate collapse in Australian history). MIPS remains stable.
- 2002 – The collapse of United Medical Protection (UMP) in May, which at the time had 50% of Australian doctors professional indemnity with. Australian Government announced medical indemnity insurance legislation changes. For more information about the Medical Indemnity Act of 2002, visit the Federal Register of Legislation
- 2003 – Government announces that it will bring all medical indemnity insurance under the Insurance Act and supervision by APRA. Introduction of Medical Indemnity (Prudential Supervision and Product Standards) Act 2003 on 1 July 2003. MIPS’ commences providing indemnity insurance through a ‘contract of insurance’ to meet new standards and the discretionary cover is maintained as an added benefit under the name ‘MIPS Protections’.
- 2004 – Queensland Doctors’ Mutual Limited (QDM) merges with MIPS on 31 August.
- 2008 – 20 years providing assistance and protection to healthcare practitioners. West Australian office opens.
- 2010 – Membership reaches over 37,000 and net assets reach $150 million.
- 2011 – The new MIPS members online area ‘My Membership’ is introduced and is very well received, with over one third of members accessing the new system. MIPS membership exceeds 30,000.
- 2013 – Online webinars are introduced as part of the Spring 2013 Risk Education Program, offering members an alternative and convenient way to receive education and CPD at no additional cost.
- 2014 – MIPS membership exceeds 40,000 members and $250 million in net assets.
- 2015 – Over 1,200 members participate in a MIPS professional development activities. MIPS total assets exceed $500 million.
- 2017 – MIPS membership exceeds 50,000 members.
- Present – MIPS continues to grow and innovate while maintaining its stability and quality of service to members
