Importance of Physician Malpractice Insurance

Importance of Physician Malpractice Insurance

When people hear about medical malpractice insurance, they usually think of physicians, surgeons and hospitals. Well, there is certainly an element of truth; still many other professionals need protection against malpractice lawsuits. Whether you are just a physician assistant or a physician in small town, your only way to stay financially invulnerable and be secured in case you are sued is physician malpractice insurance. Medical facilities and groups as well as lawyers, medi-spa and even workers need to purchase malpractice insurance.

If you are practicing physician you need to have individual physician malpractice insurance. It may be tempting for you to think that you are protected by the employer’s insurance policy, it’s a mistake. Majority of insurance policies for medical groups and facilities really offer protection but it is limited and there is often a cap on how much the policy will pay out for each employee. Therefore, in most cases, you are considered to come up with at least an additional insurance in case you are sued and the jury awards a plaintiff that will exceed the amount of hospital’s protection.

The thing is, every doctor cares about his/her own negligence and is responsible for it. Thus, even if you think that you are protected under an umbrella policy, you can still be held guilty for any negligence. Sometimes doctors might have to indemnify his/ her employer for the malpractice claim they were covered earlier; or the employer may try to separate the claim filed against doctor from the claim against practice. That’s why, doctors must have individual physician malpractice insurance and be independently protected and financially stable during their medical practice.

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