Underwriting agency Tego Insurance and Berkshire Hathaway Specialty Insurance (BHSI) have entered an exclusive underwriting agreement to provide medical indemnity cover to Australian doctors.

Tego CEO Eric Lowenstein told insuranceNEWS.com.au the move will open the market to brokers that have traditionally been excluded from the segment.

He says brokers will add value by providing independent advice to doctors who are often very busy.

“We don’t have any legacy and are able to bring fresh and unencumbered thinking around pricing, coverage and claims, to bring something new to the market – particularly when it comes to pricing and risk selection,” he said.

“We are going to look at each risk on its own merits – this approach results in tailored pricing and cover that can make it really interesting for doctors.”

Mr Lowenstein says he has been waiting for the right insurance partner to bring a new offering to the market.

“BHSI’s entry into the general insurance market last year gave us the great catalyst we needed to set up Tego and to establish our partnership with BHSI, and it’s hard to imagine a better partner,” he said.

BHSI Head of Healthcare Australia Tony Bainbridge says he is “delighted” to work with Tego in bringing the group’s medical indemnity experience and financial backing to the Australian market.

Mr Lowenstein was Aon client manager and cyber risks practice leader before starting Tego last November.