What is comprehensive cover in DPI (Doctors’ Professional Indemnity)?
A Doctor’s Professional Indemnity Insurance Policy is a must for protecting the interests of medical practitioners. Doctors and medical practitioners are human beings who, despite their best experience and intention, might make mistakes in their profession. They might, unintentionally, cause severe physical injuries or even death of their patients. In such a scenario, the patient or their family might file a lawsuit against the medical practitioner for negligence or wrong treatment or both. These lawsuits might incur very heavy expenses which prove financially distressing for doctors and medical practitioners. This is where having coverage from a doctor’s professional indemnity policy is essential for any medical consultant.
A doctor’s professional indemnity insurance policy covers the legal costs faced by doctors when a lawsuit is filed against them for professional errors and mistakes. The settlement cost that might become payable to the aggrieved third party also comes under the scope of the policy coverage.
A comprehensive doctor’s professional indemnity insurance policy covers all possible scenarios due to which doctors might face a professional or legal liability. Coverage under a comprehensive doctor’s professional indemnity policy includes the following –
- Legal costs incurred by the insured doctor would be covered subject to the consent of the insurance company. These legal costs should have arisen due to unintentional errors committed by the insured doctor when rendering professional medical treatments and advice.
- The settlement payable to the third party is also covered under the policy. This settlement should also be a result of any mistake committed by the doctor
- The court fees incurred for defending the insured doctor in case of a litigation would be covered.
- Claims are also covered on a retroactive basis. This means that if the policy is allowing coverage in the present year and a claim is made for any previous years when the policy was applicable, such claims would be covered. There are certain conditions however that can apply here.
- Many insurance companies also enhance their scope of coverage by providing doctors with professional legal counsel and support so that the doctors can be effectively defended in a lawsuit which has been filed against them.
- Though the standard doctor’s professional indemnity insurance policy covers almost all types of claims, there are further policy extensions which enhance the scope of coverage. Through extensions, one can cover claims made by foreign individuals, negligence by employees or staff of the medical practitioner, loss of documents, etc.
With all these coverage features that are provided by a doctor’s professional indemnity insurance, the Doctors’ PI policy proves very useful as it provides financial security to doctors and medical practitioners who would be otherwise exposed in paying for their negligence from their own pockets. By meeting the defence costs and paying the often huge settlements incurred in case of negligence, the policy protects doctor’s financial interests. Further a good PI policy would save the Doctor time by providing a ready panel of experienced lawyers across the country.
Doctors and medical practitioners, therefore, should buy a doctor’s professional indemnity insurance policy and ensure coverage against the potential liabilities which arise due to the nature of their profession. SecureNow provides an excellent Doctors’ PI policy with best-in-class features at an unmatchable price. It is available for various types of medical specialisations eg. consultants such as General Physicians, specialists such as Radiologists, Pediatricians, Cardiologists and also various tpes of Surgeons, Dentists and others. You can explore the benefits of this policy and even buy it online at our website at https://securenow.in/commercial-liability-insurance/doctor-professional-indemnity