Medical practice carries a variety of risks which are inherent to the job, including malpractice, negligence, and claims that arise from liabilities or breaches of professional duty. With an ever rising number of lawsuits against medical professionals and institutions, Medical Insurance can soften the financial impact of a legal defense and help you achieve a settlement with the claiming party. Whether you're a private practitioner or are the administrator or owner of a hospital, clinic, or care home, Medical insurance will keep you covered from any potential lawsuits or claims.
Medical professionals face a real challenge to their practice and livelihood. There’s no doubt that it’s your job to assist people with their medical needs, and you probably complete this task without equal. Nevertheless, you are human and humans are not programmed to be perfect. It’s not a matter of “if” you’ll make a mistake, but “when” it will occur. Even if a patient perceives you’ve made a mistake, the pending lawsuit could substantially affect your career. Be prudent and protect yourself before it happens with a sufficient medical malpractice insurance policy.
That’s where we come in. One of our agents can review your needs, identify your risks and suggest and secure the appropriate policy to cover your needs and risks. Our experts can show you a comparison of plans offered in your area, then assist you in procuring the proper plan that not only protects you, but also protects your budget. Contact Medmal 4U today for professional service.
It’s technically titled medical professional liability insurance but most commonly known as medical malpractice insurance. It’s liability coverage offered to medical professionals, like doctors, nurses, dentists, etc., that provides insurance coverage in the event of any malpractice or suspected malpractice that results in harm to the patient. It’s an insurance designed for medical professionals because it caters to the hazards of the medical profession.
Often employer-sponsored insurance isn’t enough, which is why we advise all of our clients to obtain their own liability coverage. If you are ever accused of wrongdoing by a patient, they will either sue your liability insurance or they will sue you. In the event that you’re sued, your medical malpractice insurance will provide adequate representation on your behalf and cover the cost of potential settlements.
It protects the legal liability of medical practitioners. It covers the cost of your legal defense provided by your insurer and will cover the costs of a settlement if one is reached, up to the limits set forth in your policy. Any lawsuit can be expensive but medical malpractice suits tend to have higher monetary costs for the medical professional. This is why it’s pertinent to have a plan in place that effectively protects you.
Additionally, medical malpractice insurance will help with the costs associated with conduct reviews performed by peer panels. It will even provide supplemental income should the peer review result in missed work and lost wages. It’s rarely enough to rely on employer-sponsored coverage. Before you know it, you could end up with a malpractice lawsuit and find yourself footing the bill all on your own because of some ambiguous exclusion in your employer’s policy. You have to remember that your employer’s policy was put into place to also protect the company. There can be gaps and fine print in your company coverage of which you are not aware. This is especially the case in conflicts of interest cases where the employer’s coverage must put the company first. By utilising our expert agents, we will review your current employer coverage and stack a policy on top of this coverage that’s tailored to your needs, not the company’s needs.
Any medical professional that deals with patients on a daily basis should get medical malpractice insurance. In our highly litigious society, a lawsuit by a disgruntled patient could cost you a fortune or even your career. So make sure that you have the right medical cover for your profession.
For licensed practitioners like dentists and general practitioners, it’s mandated by medical regulations. But for assistants, nurses, and other specialised professions, it’s strongly recommended that you are also covered. All it takes is one allegation by a disgruntled patient to trigger a lawsuit and the subsequent court costs. Always consult your regulatory body for further direction.
Policy premiums vary greatly based on the location of the medical professional and based on the practice in questions. In other words, a nurse’s insurance rate will be less than that of a cardiologist because of the greater risk posed by the heart doctor. However, lawsuits show no favorites.
Premiums will also fluctuate based on the limits of your policy.
Finally, rates can be subject to prior claim history. If you’ve had multiple successful claims against you in the past, this elevates your risk rating and can thusly result in a higher premium. When you work with MMI 4u, we will review these topics including others to sort out the most practical protection for you. It’s never a good idea to automatically select the least expensive plan without investigating the potential of the risks for which you need covered.
This is one reason for having a dedicated agent on your side. We help clients like this find the appropriate coverage by shopping many companies that provide liability insurance. There is never a guarantee regarding getting approved by any insurance company, but it does make it easier to locate coverage with an expert by your side.
Affordable medical malpractice insurance quotes can be had when working with Medmal 4U. We’re partnered with many leading organisations to help us find the best bang for your buck while fully protecting your risks. We want you to focus on the needs of your patients which is why we’re dedicated to securing the right coverage to fit your needs.
Your insurance policy could begin retroactively to the start date of your current policy, provided there have been no gaps in coverage and no claims filed against you. Underwriters will make the final decision as to whether an individual qualifies for a prior start-date.
The company that insures you cannot be held liable for any claim, defense costs resulting from any circumstance, omission, act, error or event prior to your policy’s effective date. If you would like to more information about retroactive dates, we recommend to look here
Run-off coverage protects you for a limited time even after you’ve left the medical field in case any claims are formulated against you by previous patients. In most situations, medical malpractice insurance ends when you exit the medical profession. Run-off coverage is used as a precautionary measure to provide you with extra peace of mind in the event a former action, event or patient alleges malpractice against you.
If you have indemnity arrangements that are not an occurrence based product – for example, claims made products – you will require run-off cover, unless the terms of your cover specify any defined circumstances where this would not be required. If you are unsure of your current indemnity arrangements then you should contact your existing indemnity provider.
MMI 4u provides an insurance policy on a "claims made" basis, which means that it responds to claims that are first made against you and notified to insurers during the period of the policy and the run‐off period.
A letter of good standing is a claims summary which details any previous complaints and claims, if applicable.
It is usually held by your medical defence organisation (MDO) or insurer (if already in the commercial insurance market).
There are two options to get your letter of good standing:
If you switch positions or are promoted within the medical community, we’ll likely need to revisit your policy and determine if your current coverage is still adequate. If you exit the medical field, you may need run-off insurance coverage. It’s always good practice to notify your agent before deciding on any changes.
If you're working in a public health institution there's a big chance that you're already covered by the National Health Service (NHS). The NHS covers most of its medical staff and offers some cover against liability claims. However, it does not offer full protection so you will still be vulnerable to malpractice claims if you don't get additional cover. Which is why it's recommended that you get additional cover to seal any legal gap in your insurance.
Doctors and dentists are covered by the NHS but those working for other professional health centers need to get extra cover in order to be fully insured. Private insurance offers extra cover for medical professionals practicing outside of their workplace, including commercial legal protection for those doing volunteer work or administering emergency care while off-duty in accordance with the Good Samaritan acts.
Doctor assistants and nurses are generally covered under their employer's insurance. However, certain claims filed by patients may be targeted against specific nurses or doctor assistants, and not just against the employers. Which is why you should check if you're covered under the NHS just to be sure.
Pharmacists working in professional health care centers will most likely be covered under their employer's insurance. Still, pharmacists have special cover needs to protect themselves from a wide array of claims which can arise from supplying the wrong dosages, mixing medications, or giving careless medical advice.
Our team of experts are dedicated to protecting your livelihood and your reputation. Our special relationship with various underwriters at Lloyd’s and London Company Markets (A Rated) allows us to offer comprehensive medical indemnity insurance and protect medical professionals against professional negligence claims.
From 1st April 2019, NHS Resolution will be operating a new state-backed indemnity scheme for general practice in England called the Clinical Negligence Scheme for General Practice (CNSGP). For full information we recommend to check the Resolution NHS website directly at https://resolution.nhs.uk.
If you are carrying out an activity that consists of, or is in connection with, the provision of primary medical services under a GMS, PMS or APMS contract, any clinical negligence liability incurred by you which arises from that activity is covered under the scheme.
If you are carrying out an activity that is not being delivered under the above contracts, you will be covered by the scheme if the answer to all the following questions is affirmative:
For full information we recommend to check the Resolution NHS website directly at https://resolution.nhs.uk.
It all depends on the nature of the enquiry and advice required.
We have dentists who provide advice and also healthcare lawyers.
Certain contractual situations would be more suited to a lawyer where treatment advice would be better dealt with by a dentist.