Cosmetic Surgery Insurer Absorbed
Cosmetic surgeons and patients alike worry about the cost of corrective procedures. Beautysure, the world’s first cosmic surgery insurer for patients, created a policy that would cover a patient for up to ,4,000 for any common complication. The complications included things such as capsular contracture, infections, scarring requiring surgery, and MRSA. The policy would not cover aesthetic dissatisfaction.
This insurance option was available through members of the British Association of Aesthetic Plastic Surgeons (BAAPS) and the British Association of Plastic, Reconstructive and Aesthetic Surgeons (BAPRAS). Juliet Bentley, founding director of Beautysure Insurance Products Ltd., commented in June of 2009, “Whether the patients take out the insurance themselves as individuals, or the surgeons choose the option
of insuring them all via one policy covering their entire practice, Beautysure can finally eliminate the worry all round of financial burdens, should complications occur.” She had high expectations for this insurance company.
Beautysure Insurance Products Ltd. was launched in March of 2009 and only eight months later it was shut down. Its parent company Lorega integrated and restructured the company. Lorega chairman Malcolm Harvey said in a press release, “It’s disappointing when a product that initially showed much promise falters. However as the demand is now proven we have spoken to our key introducers and taken swift action to restructure in order to more accurately meet their needs.”
Lorega was established in 1933 as a claims service for businesses and has an outstanding record for making the claims process easier. They hope to use their expertise to provide a higher level of service to the surgeons of BAAPS and BAPRAS. Lorega’s City of London based team will now administer all of the policies, since Juliet Bentley has moved on to a different area of insurance.
The idea of an insurance that will cover patients and surgeons for complications surgery is very good. Juliet Bentley can be applauded as a visionary for bringing the UK such a helpful service. Now it is up to Lorega to keep it afloat. Cosmetic surgery is a ,1.1 bn industry and insurance policies were well over due. With these
insurance policies both surgeons and patients can be confident that if complications arise then the resulting care will be covered. This insurance policy should make more people comfortable with having a cosmetic procedure done because their fears of extra costs due to complications will be assuaged.
