What is Medical Malpractice Insurance?

Medical malpractice insurance Hong Kong

Medical malpractice insurance is a specific type of professional indemnity insurance for medical professionals. This insurance coverage protects medical professionals against patients who file suits against them regarding allegations that they were harmed by the professional’s negligence or intentionally harmful treatment decisions. Medical malpractice insurance also covers claims that may occur due to the death of a patient.

Medical negligence can happen during diagnosis, treatment, or post-treatment advice.

Purchasing malpractice insurance is essential for medical professionals worldwide. Hence Medical professionals should seek insurance coverage for themselves as individuals, as well as for their health facility.

It is crucial to understand that both professionals and health facilities need to purchase medical malpractice insurance.

What is covered?

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.

What should you know?

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 overs any claim that was made on a treatment that occurred while the policy was in effect, even if the policy has since expired.

Which Healthcare Facilities Needs Medical Malpractice Insurance?

As mentioned, the insurance can be bought by facilities too, which  include:

  • Hospitals and Clinics
  • Dental Clinics
  • Chinese Medicine Clinics
  • Aesthetics and Beauty Centers
  • Physiotherapy and Rehabilitation Centers
  • Health Check and Diagnostic Centers
  • Medical Laboratories
  • Elderly Homes



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Medical Malpractice Insurance: A Must in The Medical Industry

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The medical industry is full of medical professionals who are experts in different skills. Each medical professional's duty includes interacting with patients to advise them, perform surgery, or provide medical treatment. The profession is gratifying when things go as planned, but sometimes things do not go the right way. Experts and companies directly involved in the medical industry have risks that can ruin careers and company reputations. Fortunately, medical professionals, hospitals, medical centres and clinics can purchase medical malpractice insurance. There are several vital reasons to purchase the insurance, which make it a must in the medical industry. What [...]