Bajaj Allianz Professional Indemnity Plan

Among all the professions, doctors are the ones who face high financial risks and can be sued financially and legally for cases of errors or negligence. The Professional Indemnity Insurance plan offered by Bajaj Allianz covers the liability of doctors caused due to errors and omissions while delivering their services.

Key Features & Benefits

• 

  High Coverage & Best Premium Rates

  The Professional Indemnity Insurance for Doctors offers high coverage up to Rs. 1 crore. You can arrive at the coverage amount based on the size of your practice, the identifiable risks and your budget. Bajaj Allianz offers the best in market premium rates starting from Rs. 9440.

• 

  Loss of documents

  Any loss of documents by the practioner which may lead to an allegation/ demand compensation from a third party are covered under this policy

• 

  Breach of confidentiality

  Any unintentional breach of confidential information from the Doctor which leads to an allegation from a third-party stands covered under the policy

• 

  Libel and slander Defamation

  Libel and slander can go a long way in tarnishing your reputation and hampering your business. But, with a professional indemnity policy you will have the funds and the legal counsel to take necessary action.

• 

  Exhaustive coverage against legal liability

  The policy offers liability coverage for a wide range of professional risks like:
  • Defence costs
  • Third-party damages
  • Breach of confidentiality
  • Libel and slander
  • Loss of documents
  • Claims arising out of professional services
  • Damages for loss arising out of a professional incident which takes place in the coverage territory during the policy period

BAGIC Professional Indemnity Policy
Policy Type	Individual
Starting Premium	Rs. 9440
Renewal	Lifetime Renewable
Tenure	Annual
Sum Insured	Rs. 50 lakh and Rs. 1 crore

Professional Indemnity Insurance Plan helps doctors to be protected against professional risks such as negligent misdiagnosis, incorrect medicine dosage, surgery-related procedures or wrong course of treatment suggested, etc. The plans are available starting from Rs.9440, with maximum coverage of Rs. 1 crore.

The policy can be taken by the following professionals:

• Only individual doctors can apply
• Applicant to have nil claims in the past

Preferred Category	Referred Category	Declined Category
With no claim history	Degrees - MBBS, BDS, BPT, BHMS, BAMS, MD, MDS, MPT, MS or higher	Lifestyle-related cosmetic surgeons
Proposer with past claimsy	As per limit opted

   

How to buy the policy

• To apply the Professional Indemnity Plan, click on the “Apply Now” button and fill in your basic and health details. Our representative will get in touch with you to provide further assistance.
• Ensure that the information given in the form is complete and accurate.
• You may be required to undergo a pre-policy medical examination at our network diagnostic centers.
• Policy schedule, policy wordings, cashless cards and health guide will be sent to your mailing address.

   

List of documents to buy the policy

The following mandatory documents will be needed to purchase the policy:

• Photograph of the Applicant
• Age proof such as birth certificate, Voter’s ID, PAN card, passport etc.
• Identity proof such as passport, Aadhaar card, PAN card, Voter’s ID, etc.
• Income Proof such as Form 16, salary slips, employment certificate etc.
• Address proof such as telephone bill, electricity bill, passport, bank statement, Voter’s ID, etc.
• Medical Test that the insurer requires you to undergo.

 

How to process the claim

You need to follow three simple steps to process the claims:

• Immediate claim intimation
  Give immediate written notice to the Customer Experience team with all the available details.
• Document submission
  Submit documents relating to the claim viz., claim form, incidence report, documents / details in relation to the reported claim, etc. considering the nature of reported claim.
  Our claims team will advise the exact list of requirements based upon the nature of claim intimated.
• Claim settlement
  Once your claim is assessed and scrutinized, the settlement amount will be confirmed within 30 days of receipt of all the details/documents as per policy terms and conditions.

 

Deductibles

Coverage amount (in Rs.)	Premium incl. GST (in Rs.)	Deductible for every claim (in Rs.)
50 lakh	9,440	2 lakh
1 crore	12,980	3 lakh

 

Major Policy Exclusions

Professional Indemnity Insurance for Doctors does not cover the below:

• Medical treatment given for weight loss, plastic surgery, genetic damages, and conditions associated with AIDS
• Criminal act, penalties, fines, punitive, and exemplary damages
• Intentional non-compliance, willful neglect, deliberate act
• Loss of goodwill
• Medical practice done under the influence of alcohol or narcotics
• Losses arising due to an act of war/terrorism/invasion
• Losses arising due to fraudulent claims or contractual liability
• Claims based upon/ or losses/liability arising due to any actual or alleged unfair competition
• Losses arising due to insolvency or bankruptcy
• Refer the policy brochure for the complete list of exclusions.