Medical Malpractice Insurance Services
Who Needs Medical Malpractice Insurance?
- Medical malpractice insurance can benefit physicians, nurses, dentists, optometrists, and other medical professionals.
- Most states require physicians to carry medical malpractice insurance. However, even where it is not legally required, coverage is a smart idea.
What Does Medical Malpractice Insurance Cover?
- If you are sued, medical malpractice insurance can pay for your defense costs, including attorney and court fees.
- Medical malpractice insurance can also provide coverage for settlements, medical expenses, and damages.
Most states require that physicians obtain medical malpractice insurance to offset the risk and costs of potential lawsuits. The risk is great enough that even in states that lack this requirement, physicians rarely practice without it. In addition to physicians, there are other professions that should carry medical malpractice coverage, including nurses, dentists, optometrists, therapists and other medical professionals.
Types Of Medical Malpractice Insurance
- The coverage of medical malpractice insurance is dependent on when the incident occurs and when the claim is filed.
- Occurrence-Based: Occurrence-based policies provide protection against incidents that occur while the policy is active, even if a claim is reported after the policy ends.
- Claims-Made: Claims-made policies are the most common and provide coverage for a set period of time. If the claim is made outside of that timeframe, it will not be covered.
- Tail Coverage: Tail coverage is used to extend coverage in a claims-made policy so that an incident is covered if it occurs during the coverage period, but a claim is made after the policy ends.