Medical Malpractice coverage provides liability protection to physicians and licensed medical professionals for bodily injury, property damage, patient claim legal defense related to wrongful practice claims. This insurance protects medical professionals and help medical practices to address and defend lawsuits and keep the practices running.
Doctors, nurses, and other medical professionals that are doing diagnostics or performing medical procedures are protected by medical malpractice policy. Defense costs are either reimbursed or paid directly by the insurance company.
All medical practices and hospitals must be covered under Medical Malpractice policy to protect themselves for mistakes made in practicing medical services.
Some of the factors that determines policy premiums:
- Medical professional’s previous record of malpractice cases
- Geographic area of the practice
- Practice speciality
- Length and history of practice
- Type and amount of coverage
Certain things are not covered by Medical malpractice insurance like theft, harassment, medicare fraud, mishandled patient records etc. It will be good to have a general liability policy to address these issues.