16Maximum amount of risk surcharge

16 Maximum amount of risk surcharge

(1) For the purposes of paragraph 52C(3)(b) of the Act, this section specifies a method for working out the amount that must not be exceeded by a risk surcharge a medical indemnity insurer requires a medical practitioner to pay for a premium period, as part of the amount payable for professional indemnity cover provided by a contract of insurance with the practitioner. (2) The amount is twice the practitioner’s gross indemnity costs relating to the contract and the premium period.