Does an Insurance Cover for Medical Practitioners Makes Sense?

We often raise doctors to a status of god as having someone’s life in their hands is no child’s play. Mistakes are bound to happen sometime in their medical career, as doctors are human too.  If the error is minor, it does not harm the patient or anyone else; if it is something huge, the consequences can range from death or disability for the patient to financial and social damage for the doctor himself.

We expect doctors to do their best to be alert, cautious, up-to-date on the latest research and treatments, and treat their patients with the best of their abilities. However, what happens when an irreversible mistake occurs? A Medical Indemnity Insurance covers the medical practitioner against such errors as the consequences can be of massive amounts. 

Why Medical Indemnity Insurance?

Medical Indemnity Insurance protects medical practitioners financially against any medical negligence or poor services, and provides legal support if required. The insurance is applicable for dentists, nurse, cardiologists, anesthetists, medical practitioner, or any staff of the hospital, including people in the management. 

It is not always the medical practitioner who is liable for the loss or damage. The patient party tries to harass them as well. Medical Indemnity insurance can be a boon for doctors and medical practitioners as they always have legal risks in their profession. Many insurance providers provide comprehensive medical liability insurance plans, and a little research can help you get the best policy without spending much. 

There have been many cases of medical negligence in India, which had severe consequences causing disabilities and even death.

One such tragic incident took place in Delhi recently where a four-month-old baby was given pain killers following which he became completely silent. After an hour, the doctors declared him dead. The family filed a police complaint under medical negligence against the hospital and the doctors involved in the treatment of the baby. 

Another case took place in Bihar, this March where a nurse gave a woman acid instead of water. There are many such cases of gross negligence that often costs people their lives. 

Risk and uncertainty are inevitable in healthcare organizations. Human nature, the provision of intricate and multifaceted care, and the highly complex system of healthcare guarantee that healthcare entities will face adverse circumstances. However, these occurrences can be mitigated with risk management techniques. 

Features of Medical Indemnity Insurance

Medical Indemnity Insurance, also known as Professional Indemnity Insurance for Doctors (PII) or as Errors & Omissions (E&O). This insurance is a liability insurance cover that protects individuals from professional risks and related legal expenses. It provides the medical practitioners’ indemnity in case a third-party sustains injury, harm, death, or damage to property due to the professional service or advice provided by the insured. Most common accusations are for negligence or malpractice. 

It provides the following benefits:

  • Cover

Medical Indemnity Insurance covers any legal liability arising out of errors, omissions, or negligence of a medical professional while rendering a service, which causes injury or disability to a third party or even death. 

  • Group Policies

Group policies are also available for medical indemnity cover. Members of one profession will be covered. Many hospitals provide Medical Indemnity Insurance cover to its employees to avail the extra benefit. 

  • Defense Expenses If Any

Medical Indemnity Insurance also covers defense costs. All the fees applicable to the defense of the insured in court is payable out of the sum insured. 

  • Exclusions

A Medical Indemnity Insurance policy only covers civil liability claims. If the claim arises out of a criminal act or violation of the law, then it is not covered under this policy.

Following are the general exclusions under this policy:

  • A criminal act, fraud and other violations of law
  • If the insured is under the influence of drugs or alcohol while rendering the service.
  • Any condition which is associated or caused by AIDS
  • Legal liability arising out of personal injuries such as false arrest, slander, wrongful detention, libel, defamation, wrongful eviction
  • Infringement of copyright, plans, trade name, patent, registered design, or trademark
  • Willful or deliberate non-compliance of statutory regulations
  • Financial loss is borne by the insured, such as loss of goodwill
  • War activities

We, at SecureNow, provide quotes for Professional Indemnity Insurance for Doctors that will help you compare and choose the best cover for yourself. We offer  Insurance recognized by hospitals that you work in, in India and overseas. 

The Medical Indemnity Insurance covers claims made by your patients for negligence, wrong treatment, or mishaps. The insurance will pay the costs of litigation, court fees, and settlements. Some insurers also provide you legal advice and support to defend yourself. 

Reference for Information:

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