Medical Indemnity Protection Society

What Medical Indemnity Protection Society does

Medical Indemnity Protection Society (MIPS) is a member-owned, not-for-profit medical defence organisation headquartered in Melbourne, Australia, established in 1988 to provide professional indemnity insurance and medico-legal support to healthcare practitioners. MIPS serves more than 50,000 members across registered medical practitioners, dental practitioners, nuclear medicine technologists, healthcare students, and international practitioners, with national operations supported by offices in Melbourne, Sydney, and Brisbane. Its core product is indemnity insurance providing up to $20 million of cover per claim for civil liability, legal defence costs, regulatory investigations, coronial inquiries, employment disputes, and pursuit matters, satisfying Ahpra registration requirements and delivered through its wholly owned APRA-supervised subsidiary, MIPS Insurance Pty Ltd, which holds AFSL 247301.

MIPS monetises primarily through individually risk-rated annual membership fees, with instalment billing available via monthly direct debit at no additional cost, and through underwriting premiums collected by MIPS Insurance. Distribution combines direct digital acquisition (website quote requests, online application, MyMIPS self-service portal), phone-based sales and support (1300 698 509 for general enquiries; 1800 061 113 for 24-hour clinico-legal advice), and a community-led engagement layer built around accredited CPD education, conferences, and partnerships with professional colleges including RACGP and ACRRM. The organisation pays approximately $65 million in claims annually and held total assets exceeding $500 million by 2015, underscoring its scale as one of only five authorised Australian medical defence organisations.

MIPS is governed by a Members' Constitution and a Board of seven non-executive directors, with executive leadership spanning insurance, clinical, legal, technology, and member experience disciplines. The membership model is supplemented by ancillary benefits such as a career leadership program, financial literacy education (with Kaplan), health insurance discounts (with Australian Unity), practice entity and cyber cover referrals, and the Dr Nichola Davis Scholarship at the University of Queensland. The competitive position rests on the regulatory licence to provide Ahpra-compliant cover, the switching friction inherent in claims-made insurance, a 35-year operating history, and a member-aligned mutual structure that reinvests surplus into member services rather than distributing profit.

Name

Medical Indemnity Protection Society

Legal name

Medical Indemnity Protection Society

Website

https://mips.com.au

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

11–50 employees

Short description

MIPS is a member-owned, not-for-profit Australian medical defence organisation providing up to $20M in professional indemnity insurance, 24/7 medico-legal support, and accredited CPD education to 50,000+ medical, dental, and nuclear medicine practitioners.

Ownership category

akta.pro rank

Product category

Professional Indemnity Insurance

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Carriers and Related Activities (524), Direct Property and Casualty Insurance Carriers (524126)

SIC

Insurance Agents, Brokers & Service (6411), Accident & Health Insurance (6321)

akta.pro primary industry

Management Liability (D&O/EPL/Fiduciary) (FSAJAGAD)

Keywords

• Professional indemnity insurance
• Medico-legal support
• Medical defence organisation
• Risk education CPD
• Healthcare practitioner membership

Headquarters

HQ city

Melbourne

HQ country

Australia

HQ region

Oceania

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Others, Infrastructure, Marketing or Sales

Revenue model

1. Membership Fees: Annual membership fees calculated based on individual risk assessment including practice category, annual gross billings/salary/hours worked, extensions of practice, practice state/territory, claims history, and any applicable risk surcharges. Fees can be paid in full or via monthly direct debit instalments (no additional cost).
2. Professional Indemnity Insurance Premiums: Professional indemnity insurance underwritten by MIPS Insurance Pty Ltd (wholly owned subsidiary) providing up to $20M cover for claims against members. This is a benefit of membership.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

MIPS provides professional indemnity insurance cover of up to $20 million for healthcare practitioners (medical, dental, nuclear medicine technologists, and students), complemented by 24/7 medico-legal advisory support from clinicians and legal practitioners, accredited risk education and CPD programs, run-off cover, and add-on practice entity, cyber, and public/products liability insurance referrals. Membership is organised on a risk-based individual fee structure and is delivered through a wholly owned APRA-regulated subsidiary (MIPS Insurance Pty Ltd) that underwrites claims-made contracts.

Product overview

MIPS operates as a member-owned not-for-profit medical defence organisation providing a portfolio of insurance and support products anchored by professional indemnity insurance. The core product is indemnity insurance covering up to $20 million for medical, dental, and nuclear medicine technologist practitioners, meeting Ahpra registration requirements. This is supported by supplementary products including 24/7 medico-legal advisory services, accredited risk education/CPD, and a member portal (MyMIPS). MIPS also offers or refers practice entity insurance, cyber cover, and public liability through partners. Additional member benefits encompass a career leadership program, financial literacy education (Money Matters), health insurance discounts via Australian Unity, and the Dr Nichola Davis Scholarship. Membership tiers cover students, recent graduates (fee-waived), hospital doctors, GPs, specialists, and dental practitioners across their career progression.

Differentiator

Problem solved

Functional benefit

Products and services

• Indemnity Insurance Professional indemnity insurance providing up to $20 million of cover for claims against healthcare practitioners (medical, dental, and nuclear medicine technologists) arising from acts, errors, or omissions in providing healthcare. Covers civil liability, legal defence costs, regulatory investigations, coronial inquiries, employment and pursuit matters. Meets Ahpra registration requirements.
• Practice Entity Insurance Referral Referral service directing MIPS members to general insurance brokers for practice entity liability cover, including limited cover for sole practitioner practice staff. Covers claims against healthcare practice entities including legal defence costs and damages.
• Cyber Cover Referral Referral service for cyber liability insurance cover for healthcare practices, with MIPS directing members to general insurance brokers for cyber coverage not included in core indemnity membership.
• Public & Products Liability Cover Referral Referral service for public and products liability insurance, directing members to general insurance brokers for coverage not included in core MIPS membership.
• 24/7 Medico-Legal Support Round-the-clock advisory service providing members with access to clinicians, professional support officers, and legal practitioners for medico-legal advice. Included as a membership benefit at no additional charge; handles urgent matters via phone and processes incident notification forms for non-urgent matters.
• Risk Education & CPD Program Accredited continuing professional development (CPD) program including on-demand webinars, online risk education units, workshops, and live webinars. Accredited by RACGP under category 2 of the QI & CPD program and by ACRRM for rural and remote medicine; suitable for medical and dental professionals. Covers medico-legal risk management topics.
• Career Leadership Program Structured leadership development program for junior medical and dental practitioners delivered as three interactive online workshops covering self-management, communication, conflict resolution, team leadership, and advocacy. Developed in collaboration with Dr Brett Factor.
• Money Matters Financial Literacy Education On-demand financial literacy education commissioned by MIPS and designed with Kaplan covering debt management, budgeting and cash flow, and understanding insurance. Earns CPD credits and is free for members.
• Health & Wellbeing Support Health and wellbeing resources including a partnership with Australian Unity offering MIPS members a 9% discount on private health insurance and extras, plus resilience resources, mindfulness tools, and practitioner wellbeing support.
• Dr Nichola Davis Scholarship Scholarship at the University of Queensland supporting financially disadvantaged medical students from rural or remote Queensland areas. Established in 2023 in memory of Dr Nichola Davis, a former MIPS medico-legal advisor.
• Student Membership Fee-waived membership for healthcare students in medicine, dentistry, oral health, or nuclear medicine technology providing indemnity insurance, 24/7 medico-legal advice, and educational resources. Covers student placements including electives in Australia and overseas (excluding USA).
• Run-off Cover Continuation of indemnity cover for practitioners who cease practice due to retirement, maternity leave, or death, protecting against claims arising from previous practice. Medical practitioners may be eligible for the Australian Government's Run-Off Cover Scheme (ROCS).
• MyMIPS Member Portal Online self-service portal for members to update details, download Member Benefit Statements and certificates of currency, pay membership fees, and complete online risk education units.

Quantifiable outcome

• MIPS receives around 4,000 medico-legal contacts from members each year, with only a small fraction becoming claims
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Australian UnitycoreGTM or Marketing PartnerMIPS has partnered with Australian Unity to provide MIPS members with a 9% discount on private health insurance and extras. Members can access this benefit through Australian Unity's website. MIPS receives no financial benefit or commission from health insurance products sold to members.
• RACGP (Royal Australian College of General Practitioners)coreStrategic or Co-development PartnerMIPS is an accredited professional development provider for RACGP. MIPS risk education workshops, webinars, and online units are accredited by RACGP under category 2 in the RACGP's QI & CPD program, helping GPs meet their mandatory CPD requirements.
• ACRRM (Australian College of Rural and Remote Medicine)coreStrategic or Co-development PartnerMIPS education is accredited by ACRRM and is suitable for medical professionals meeting rural and remote medicine CPD requirements.
• University of QueenslandminorOthersMIPS established the Dr Nichola Davis Scholarship at The University of Queensland in 2023, supporting financially disadvantaged medical students from rural or remote areas of Queensland. The scholarship honors the legacy of Dr Nichola Davis, a former MIPS medico-legal advisor.
• KaplanminorStrategic or Co-development PartnerMIPS partnered with Kaplan, a leading provider of financial education, to commission on-demand financial literacy education units for members covering debt management, budgeting, cash flow, and insurance understanding.
• Neurosurgical Society of Australasia (NSA)minorGTM or Marketing PartnerMIPS supports the NSA 81st Annual Scientific Meeting in Adelaide, August 2026, as part of collaboration between NSA and Cooperative Trials Group for Neuro-Oncology (COGNO).
• Australian Indigenous Doctors' Association (AIDA)minorGTM or Marketing PartnerMIPS supports AIDA's annual conference in Perth, September 2026, bringing together Indigenous medical students, graduates, and medical professionals.
• The Fine Edge of DentistryminorGTM or Marketing PartnerMIPS supports The Fine Edge of Dentistry 2026 conference in Sydney, September 2026, a premier dental event for clinical skills and practice education.
• Australian and New Zealand Society of Palliative Medicine (ANZSPM)minorGTM or Marketing PartnerMIPS supports ANZSPM 2026 Conference in Launceston, September 2026, for specialist and generalist medical practitioners in palliative care.
• Rural Medicine Australia (RMA)minorGTM or Marketing PartnerMIPS supports RMA26 in Adelaide, October 2026, hosted by ACRRM and RDAA, focusing on professional development for rural medicine network.
• GP26 ConferenceminorGTM or Marketing PartnerMIPS supports GP26 in Adelaide, November 2026, bringing the general practice profession together for innovation sharing and sustainability discussions.

Scale indicators7 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Avant Mutual: Avant Mutual is Australia's largest medical defence organisation, providing professional indemnity insurance, medico-legal advice, and risk education to doctors, dentists, and allied health professionals. It is the most direct competitor to MIPS in the Australian MDO market, with overlapping product lines, member base, and regulatory positioning.
• Medical Protection Society: The Medical Protection Society (MPS) is a UK-headquartered medical defence organisation and was MIPS's founding parent until MIPS separated in 1998. MPS offers the same core professional indemnity and medico-legal support model globally, making it a close international functional peer.
• Medical Liability Mutual Insurance Company: MLMIC is a US medical professional liability insurer providing malpractice insurance to physicians, dentists, and healthcare facilities. It is comparable to MIPS in providing professional indemnity cover to individual healthcare practitioners as its core product.
• MIGA (Medical Insurance Group Australia): MIGA is one of Australia's authorised medical defence organisations, providing professional indemnity insurance and medico-legal support to doctors, dentists, and other healthcare professionals. It competes directly with MIPS for healthcare practitioner members across Australia under the same APRA-supervised regulatory framework.
• The Doctors Company: The Doctors Company is the largest physician-owned medical professional liability insurer in the United States, providing malpractice insurance and risk management services to doctors, dentists, and healthcare professionals. It is structurally comparable to MIPS as a member/physician-aligned professional liability carrier.
• Tego Insurance: Tego Insurance is a specialist Australian insurer providing professional indemnity, medical malpractice, and liability cover to healthcare professionals and businesses. It competes directly with MIPS in the Australian medical professional indemnity market with a more commercial insurer structure.
• ProAssurance: ProAssurance is a US-based specialty insurer providing medical professional liability and healthcare-related insurance products. It serves similar healthcare practitioner customers with similar professional indemnity coverage as MIPS, making it a relevant international peer in medical malpractice insurance.
• MDA National Insurance: MDA National is an Australian medical defence organisation providing professional indemnity and medico-legal support to doctors, dentists, and healthcare students. It is one of the five authorised MDOs in Australia and a direct competitor to MIPS in the same regulatory and product category.

Broad incumbents

• Bupa Australia: Bupa is a major Australian health and care insurer with significant presence in private health insurance. It is a broad incumbent in Australian healthcare insurance but does not directly offer professional indemnity to healthcare practitioners like MIPS.
• Medibank Private: Medibank is Australia's largest private health insurer and a broad incumbent in the Australian healthcare insurance market. While focused on patient health coverage rather than professional indemnity, it shares MIPS's Australian healthcare customer overlap and insurance industry positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Medical Indemnity Protection Society