MEDICAL MALPRACTICE INSURANCE
What is Medical Malpractice Insurance?
Medical malpractice insurance is a type of professional indemnity insurance that protects medical professionals from lawsuits alleging negligence or harmful treatment decisions.
It also covers claims related to patient death. Negligence can occur during diagnosis, treatment, or post-treatment advice.
Medical professionals should acquire malpractice insurance for both themselves and their health facilities, as it is essential for protection.
What Does Medical Malpractice Insurance Cover?
Medical malpractice insurance covers a range of expenses related to defending and settling lawsuits. Additionally, it also pays damages if you’re found liable. Covered costs include:
-
Lawyer’s fees.
-
Legal costs.
-
Settlement costs.
-
Compensation damage costs.
-
Medical damages.
Medical Malpractice Insurance Tips
Medical malpractice insurance has two options: claims-made policies or occurrence policies.
Claims-made policies only cover claims if the policy was in effect when the treatment happened and when the lawsuit was made.
Occurrence policies cover any claim that was made on a treatment that occurred while the policy was in effect, even if the policy has since expired.