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7 risks doctors have if they don’t have a professional indemnity insurance

  • Highlights

  • Indemnity insurance protects from legal cases

  • Protects against risks of misdiagnosis

  • Covers for libel and slander

As a medical practitioner, you would never want your patient to be harmed in any way. However, there could be occurrences of errors of misdiagnosis, negligence, mistreatment. With growing patient awareness, such losses could cost your practice stalled daily operations, loss of patients and much more.

Picture this: A father brings his toddler to your paediatric clinic for a routine check-up. You diagnose her condition and prescribe a course of medication. But, the medicine doesn’t suit the toddler, giving her a bad rash and bouts of vomiting. Instead of consulting you again, the father initiates legal proceedings. Before you know it, you're being accused of negligence and misdiagnosis.

In such situations, your reputation, medical practice and business funds are at stake. Therefore, to protect your interests, a professional indemnity insurance for doctors become vital. It covers you in case of a medico-legal case, provides financial assistance and legal counsel.
Take a look at 7 risks you face if not insured with this policy.

1. Misdiagnosis

When accused of incorrect or incomplete diagnosis, like the example cited above, you can be liable to pay huge amounts. A professional indemnity insurance policy for doctors will protect you against this eventuality.

2. Incorrect dosage

Consider this: Instead of prescribing 50mg dosage of a medicine, you prescribed 100mg. Due to this, your patient experienced severe drowsiness and fell asleep for a split-second while driving. Unfortunately, this culminated in an accident. Now, the patient has sued you and demands a compensation for the damage. In such a case, an indemnity policy will help you counter legal charges and/or pay for the damages.

3. Surgery-related procedures

In case you miss a step while performing a surgery or perform the wrong procedures, the patient may sue you and/or the hospital. For example, a sponge or piece of cotton left behind in a patient’s body after the surgery can be fatal. This may need another surgery to remedy the situation. In such cases, the patient can sue you. Investing in professional indemnity insurance for doctors covers you against such a risk so that you can focus on running your medical practice without worrying about legal hassles.

4. Wrong course of treatment

Different doctors may have different approaches to treatments. As a dermatologist, you may have administered certain treatments that may have not suited your patient’s skin. He/she might consult another doctor who has a different way of approaching the problem. The patient might put two and two together and sue you for prescribing wrong course of treatment.

How doctors can take their practice to the next level

5. Libel and slander

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.
Pre-empt all such damages and take necessary corrective measures by investing in a Professional Indemnity Policy for Doctors which is a policy offering enhanced coverage, while giving you access to lawyers to take up your case.

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