Malpractice is a word doctors, dentists, nurses and others rue, but having the proper insurance protection in place means more than just finances are protected against a possible lawsuit that could devastate the assets of even the wealthiest care providers. A good medical professional liability policy will keep personal assets and homes secure against lawsuits, which so often arise during the typical career of a doctor or other health care provider.
Because people are prone to making mistakes, there is a great need for insurance coverage to protect against lawsuits arising from errors made while treating a patient, and such lawsuits can add up to high amounts if negligence is proved and a high judgment is levels by the court. And many insurers offer varying types of policies to keep doctors and other safe from lawsuit settlements that might otherwise cause them go to bankrupt and maybe even force the sale of the family home.
Some insurance companies provide physicians, surgeons and dentists medical professional liability insurance that gives individual coverage for specified care providers against lawsuits arising from making a mistake that causes some form of harm to others. If someone is prescribed the wrong type of medication and has a bad reaction that disables them for life, the insurance plan would pay up to policy limits while keeping the medical professional secure financially.
Coverage also can be extended to assistants and others involved in the care-giving field. If a nurse mistakenly administers the wrong dosage and someone is stricken as a result, the policy would pay up to stated limits. Even if paperwork is filled out improperly by an assistant and it somehow results in a loss, the plan would cover that, too.
Health care pros also can find themselves providing services while traveling. In such instances, a policy rider can cover any losses arising from giving care while away from traditional office and hospital settings and while traveling in other states. Some doctors might specialize in a particular field and have demands for their services in several locations. In such instances, a multi-state rider would be an ideal solution to transporting policy coverage beyond the home state.
There are many reasons a health care provider might find himself or herself targeted by a costly legal case that could wipe out personal savings as well as force the sale of the family home if a bankruptcy should ensue. But a good medical professional liability plan can keep such people safe from financial harm while engaged in providing care for others.