The trusted insurance partner of medical and dental professionals for almost a century
More than just an insurance partner – PSA Insurance really is unique
The origins of PSA Insurance lie in a company formed nearly 100 years ago: Victorian Medical Insurance Agency Ltd (VMIAL), the company behind the name PSA Insurance, was established in 1926 for the express purpose of setting up a general insurance scheme for doctors and subsequently dentists. Known back then as the British Medical Insurance Company Ltd (BMI), this company was modelled on a similar scheme set up in New Zealand by returned servicemen for the exclusive benefit of the 400 members of the NZ branch of the British Medical Agency.
From humble beginnings, BMI gradually expanded its product range to include all types of insurances benefiting doctors and dentists. Its knowhow and focus were developed in conjunction with the needs of members of the Victorian dental and medical associations. These close relationships provided BMI with a most comprehensive appreciation of the particular insurance requirements of these professions.
Part of Victoria’s Medical and Dental Heritage
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Over the years and with an expanding insurance base and a change of name, VMIAL extended its exclusive focus on doctors and dentists by contributing funds towards projects that directly benefit various causes in support of the medical and dental professions.
These philanthropic endeavours started as early as 1945 when BMI (now VMIAL) donated funds to the Medical Society of Victoria (predecessor to today’s AMA Victoria) for the purchase of a property for their use.
Over the years several other larger donations were also made to this Society for successive offices and buildings. In 1950, BMI also awarded a number of grants including ones to the College of Nursing of Australia and the Australian Dental Association for the establishment of their libraries, as well as to the ADA for their annual congress.
- Scholarships for medical and dental students at The University of Melbourne and Monash, La Trobe and Deakin universities, thus covering all medical and dental schools in Victoria,
- Projects focussed on the wellbeing of members of the Victorian Branches of the Australian Dental and Medical Associations
- Scholarships and Fellowships aiding senior doctors in the development of their expertise and specialisations at the Peter MacCallum Cancer Centre, St. Vincent’s Hospital in Melbourne and the Baker Institute,
- Contributions towards the development and growth of the Victorian Cerebral Palsy Register at the Royal Children’s Hospital,
- A three-year training course for new doctors at Austin Health aimed at dealing with the pressures and stresses of their internships,
- Contributions to the Victorian Doctors Health Program,
- Grants to PSA Insurance policyholders in support of specific medical or dental projects to which they contribute time and resources in a volunteer capacity.
Remarkably, the legacy of the Company’s founders and forefathers remains virtually unchanged to this day which truly makes PSA Insurance unique.
The Victorian Medical Insurance Agency supports the following institutions via dedicated project donations and grants.
