If you operate a medical practice or work as a medical professional, you may need special insurance to cover your liabilities or those of your employees. Medical professional liability insurance can provide coverage for medical malpractice claims that may be made against medical facilities, practices and individual professionals.
Benefits to Medical Practices and Facilities
Medical practices and facilities can face a risk of liability for every employee who may have contact with patients. If a patient is injured or dies because of the facility’s or a facility employees’ actions or failure to take an action. If this occurs, a patient or his family may file a lawsuit against the facility providing the medical care. Liability insurance can cover legal fees and financial liabilities awarded to the patient. Without this coverage, medical practices and facilities could be responsible for paying these fees out of the business’ funds.
Benefits to Medical Professionals
In addition to coverage for medical facilities, medical professional liability insurance can also be purchased by individual medical professionals such as physicians, nurses and therapists to cover their own liabilities. Although many facilities may have coverage that can extend to their professional employees, it can have limits and may not cover all liabilities. Without individual coverage, the medical professional could risk losing his personal assets to pay for uncovered liabilities.