Medical Malpractice Insurance

What is Medical Malpractice Insurance?

Medical Malpractice insurance is a professional indemnity insurance policy specifically designed for healthcare professionals. It protects an Insured from financial liability arising from claims of negligence, errors, or omissions associated with the provision of healthcare services.

What is covered?

The key features of Medical Malpractice insurance cover the costs of legal defence incurred through allegations of malpractice, negligence or misconduct, provides funds for settlements/compensation awarded to plaintiffs, and coverage for public relations expenses to manage the impact on the reputation of the healthcare provider.

Who needs Medical Malpractice Insurance?

Medical malpractice Insurance is important for doctors, nurses, dentists, allied health professionals, and other healthcare providers, including alternative and natural medicine practitioners, NDIS Service Providers, aged care facilities, and diagnostic screening services.

Client Example

The Insured is a practicing general surgeon who performed a routine gallbladder removal surgery on a patient in a private hospital. The Insured inadvertently caused an injury to the patient’s bile duct which led to unexpected complications and required additional surgery and a prolonged hospital stay.

The patient made a medical practice claim against the Insured seeking compensation for medical expenses, pain and suffering, and lost wages.

After a thorough investigation, the Insurer negotiated a financial settlement with the patient and covered the legal defence costs. The total amount paid by the Insurer was in excess of $300,000 which protected the Insured from financial hardship and helped to mitigate the financial impact of the claim.

Medical Malpractice Insurance

What is Medical Malpractice Insurance?