What is Medical Malpractice Insurance?
Medical malpractice coverage is for legal claims arising from allegations of medical negligence and malpractice helping to cover defence fees, expert witness costs, legal fees and settlement costs.
As a medical professional you may have coverage under the clinic or hospital where you practice but in many cases it is a requirement to take out your own policy which can protect you in the event of a claim against you. Many insurance policies for medical malpractice cover professional work as a physician or other medical professional but may also cover your work on peer review panels.
If such a decision results in a lawsuit, malpractice coverage will protect you up to the policy limit.
What Does Medical Malpractice Insurance Cover?
Medical malpractice coverage is for legal claims arising from allegations of medical negligence and malpractice. This insurance helps to cover defence fees, expert witness costs, legal fees and settlement costs.
Lockton have a dedicated healthcare team with extensive experience in the placement of medical malpractice insurance. We work with you to review your risk management program and tailor your policy to suit your needs and terms will be subject to underwriters’ review of the underwriting information.
- Loss and defense expenses for medical negligence claims
- Cover for aggravated damages and notice of contribution and indemnity (NCI)
- Free run off cover for Retired, Disabled, and the Estate of Deceased Doctors
- Extension for loss of medical records and breach of personal data
- Legal representation costs in the event of a disciplinary enquiry
- Cover for Good Samaritan acts (including inflight emergency medical treatment)
Why Do I need Medical Malpractice Insurance?
Medical practitioner may face risks arising from treatment of patients. A minor mistake may result in unexpected consequences and the patient or their relatives may demand that medical practitioner be liable to the damage incurred. Thus the Medical Malpractice Insurance will provide a solution, lessen the burden that follows, and offer them professional security when problems arise.