Medical Malpractice Insurance

medical malpractice insuranceMedical malpractice insurance, is in practice a hybrid of public liability insurance and professional indemnity insurance, responding to claims arising from both bodily injury, including mental and psychological damage, from both physical procedures and from advice, or indeed a combination of the two.

What is medical malpractice insurance?

Generally speaking a professional indemnity insurance policy will not respond to claims for bodily injury, and a public liability policy will not respond to claims arising from advice. Medical malpractice insurance bridges the gap between the two covers.

Policies vary from underwriter to underwriter, and from profession to professions, but fundamentally fall into two categories;

Medical Malpractice Insurance

Based in professional indemnity and responding to the policyholders legal liability arising out of any bodily injury, mental injury, illness, disease or death of any patient caused by any negligent act, error or omission committed by the insured in or about the conduct of the insured’s occupation or business as stated in the schedule, or Good Samaritan Acts.

Treatment Risks Insurance

Fundamentally a public liability insurance policy extended to include breach of professional duty consequent upon any neglect, error or omission in providing advice, treatment or prescriptions or professional services.

Claims Made vs Claims Occurring on Medical Malpractice Policies

One major difference between the two standard forms of contract is the basis upon which a claim may be made. Malpractice insurance, similar to professional indemnity is generally written on a claims made basis, whilst Treatment Risks are written on a claims occurring basis.

These important distinctions relate to the claims to which a policy responds. Claims occurring means that the policy responds to claims that actually occur during the period of insurance, this being the situation that most general insurance clients are familiar within other classes of insurance. Claims made means that the policy responds to claims that are actually brought against the policyholder during the period of insurance.

Where policies are written on a claims made basis, consideration must be given to retroactive cover, to provide for claims that may arise from previous work.

Medical Malpractice Run Off Insurance

It is also important to appreciate that upon retirement or cessation of business, if insurance has been held on a claims made basis, run-off cover will be required to protect the policyholder in future years against new claims.

For further information on medical malpractice insurance from Blackfriars Group please contact us on 0161 300 2930 or apply on-line.

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