Malpractice insurance is a vital type of coverage necessary for health care professionals. These policies essentially provide professional liability insurance tailored toward the medical field. As such, its primary purpose is to protect health care providers—such as doctors, nurses and physical therapists—if a patient alleges they were harmed by improper care or negligence.
What Does Malpractice Insurance Cover?
Despite your best intentions, many things can go wrong while working in health care. Even the most mindful and diligent medical professionals may make an error that harms a patient and leads to a lawsuit. Fortunately, by having an adequate malpractice insurance policy, you may be covered for certain expenses, such as:
- Medical damages
- Arbitration and settlement costs
- Legal representation and court fees
- Punitive and compensatory damages
How to Obtain Malpractice Insurance
Health care professionals may be able to acquire malpractice coverage through various means, including:
- Purchasing an individual or group policy from an insurance provider.
- Working for an employer with its own policy, such as a hospital.
- Joining a medical risk retention group’s policy.
Our insurance agents are well-equipped to go over your company’s specific needs regarding coverage options.
Protect Yourself With the Right Coverage
The medical field can be rewarding, but it’s also possible for even minor and well-intentioned errors to leave patients suffering the consequences. If you are found liable for such a mistake, there may be a significant impact on your practice, company and career. With that in mind, it’s necessary to have optimal insurance coverage. Contact Elite Insurance Group today to learn more.