Medical Malpractice Insurance

Medical Malpractice Insurance

Medical Malpractice Coverage

You spend your life working to help others when you’re a healthcare provider. If you make a mistake, you have the risk of facing a medical malpractice lawsuit.  Medical malpractice insurance could be the sole thing in between you and having to shut down your whole practice.

Resolving a case of medical malpractice can be very difficult. There’s a lot of costs that go into the investigation of claims and deciding whether or not malpractice happened. If malpractice didn’t occur, there is no basis for a lawsuit.

If there isn’t a basis for malpractice, our agents will help you through the defense process to assist with losses if you were found liable for malpractice. There is no branch of medicine that isn’t at risk for malpractice lawsuits. There is always the risk of something going wrong, or patients believing you are in the wrong.

Medical Malpractice Coverage

Medical malpractice insurance will cover the liability related to any kind of malpractice (whether intentional or not), with extra focus on property damage, medical expenses, and bodily injury. It also covers defending lawsuits that are related to those issues.

These are the two biggest coverage types:

  • Claim Made policies that can cover claims made during the time the policy is active (it’s usually for a selected time period afterward, in the situation of continuing litigation)
  • Occurrence policies cover against loss that happens during the time where the policy was active, since a lot of people might not file suit for over a year after the alleged malpractice incident. After the suit has been filed, it could take over two years to be resolved.

Most malpractice cases can and are able to be settled out of court, without needing to risk the very high claims of trials. Our agents at Noltensmeyer Insurance Services work tirelessly for this outcome when they can. Settlements rarely occur until later in the process, but they offer lesser payouts when it’s necessary. This helps to keep your premiums low, and saves you from the distress that trials can bring to your business.

Make sure you’re aware of what kind of medical malpractice insurance you have and how long it is covering you for, this can help figure out if you have any coverage if a suit is brought towards you or not. If you are unsure how long you need coverage for, one of our representatives can discuss with you what your plans are and how much insurance you will need.