This type of insurance protects physicians, the entity where he/she works, or any one of the ancillary medical providers who also work at the practice such as Physician Assistants or Nurse Practitioners. Often times, when it comes to medical malpractice claims, lawsuits will name numerous parties who may have ever had been involved in the treatment or helped determine the outcome of the patient’s care. Sometimes, a simple review of a medical chart could be enough merit to bring that medical provider into the suit. These policies will pay for indemnity costs and defense costs associated with the claim. Often times, the defense costs/legal expenses can be just as costly as the indemnity costs alone. (Professional Liability information for non-physician groups can be found here)
Claim Examples
A Radiologist was reviewing an MRI, and faxed results to a wrong clinic. This mix-up caused a two-month delay in finally retrieving the correct records and properly diagnosing the findings. It was discovered that the patient had cancer and a metastasis to other organs developed. This resulted in a less than favorable prognosis.
An up & coming clinic decided to expand into Telemedicine and began hiring providers from other states in an effort to keep up with increased demand. The pressures of the backlog of patients resulted in carelessly hiring one provider without proper credentialing and license verification. It was found later that the provider appeared in front of a board and had his medical license suspended, all the while seeing patients for the clinic. Over the course of three months, this provider saw hundreds of patients and provided improper diagnosis.
Coverage Features
- Claims Made or Occurrence Coverage
- Consent to Settle Provisions
- Surplus Lines available for accounts with large claims
- Separate Limits or Shared Group limits available for savings
- Discounts for Part-time Credits, New to Practice Credits, No Claims History Credits, and more.
- Free Tail Coverage (Extended Reporting Period) where applicable
- And much more!
Our insurance agency serves clients in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, North Carolina and surrounding states. We pride ourselves on understanding your industry and providing simple solutions for your insurance program.
Contact us today and find out how we can help reduce your cost, enhance your coverage, or improve your peace of mind!