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Medical malpractice insurance

 

Medical malpractice insurance can also be referred to as liability insurance, which has been specifically created to protect the medical fraternity against any type of claims associated with negligence, error, bodily injury, wrongful practices and even death.

Medical professional liability insurance has been devised specifically to protect doctors, dentists, specialists and other medical personnel that are licensed healthcare professionals from any liability connected to wrongful practices, leading to medical expenses, damages, or injury.

Oftentimes, where there is mental anguish involved by the claimant, claims for this will also be paid out; and because it is a highly complex branch of insurance, the investigation of claims will result in higher premiums in the defence.

It is no secret that medical liability insurers spend substantial funds investigating and defending claims where there is an adverse patient outcome, not resulting from negligence.

The two different types of medical malpractice insurance claims include occurrence and claims-made.

The importance of medical malpractice insurance cannot be stressed sufficiently, should you provide any professional advice or services; cover necessary to protect your good name and your business against claims of malpractice or professional misconduct.

Medical malpractice insurance will take care of any alleged medical negligence by healthcare professionals as well as any complaints that have been lodged against the licensed medical practitioners with the professions councils involved.

Over the past couple of decades, claims against medical practitioners have grown exponentially and the size, as well as the frequency of payouts has increased, making professional indemnity and malpractice a no-brainer for healthcare professionals.

Medical malpractice covers medical professionals against damages ranging from bodily injury to alleged negligence and includes legal costs and expenses.

Therefore, if you happen to be a beautician, pharmacist, counsellor, doctor, dentist, chiropractor, optometrist, paramedic or similar, you need this very necessary cover to ensure you never fall prey to litigation which can prove to be extremely costly.