Features and benefits of malpractice insurance
High sum assured
Obtain financial protection of up to Rs. 1 crore for legal liabilities arising out of malpractice claims.
Avail malpractice coverage to stay financially protected against specified claims with premiums starting at just Rs. 9,440.
Get coverage for a wide range of professional risks such as losses due to defamation and breach of confidentiality.
A malpractice insurance policy is a financial coverage plan that aims to protect medical practitioners against financial losses while rendering professional services. Being a type of professional indemnity insurance plan provides coverage against a patient’s negligence claim.
The applicability of a malpractice liability insurance plan extends in case of lawsuits filed by patients against a medical professional, claiming financial losses suffered due to neglect, intentional errors, or omissions during treatment. An experienced malpractice insurance plan thus protects a doctor against such contingent financial losses.
Professional risks covered under a malpractice insurance plan
Coverage under malpractice insurance for healthcare professionals extends to the following practice risks:
- 1 Cost of defence involved in litigation
- 2 Financial damages from third-party claims
- 3 Losses sustained due to breach of confidentiality
- 4 Financial losses incurred due to defamation, misrepresentation, reputation damage, etc
- 5 Claims resulting in a lawsuit against professional services rendered
Healthcare professionals can claim damages incurred during the insurance policy period and within the coverage territory.
Enjoy a fast-tracked claims redressal by following a few hassle-free steps and submitting the necessary documents.
Areas malpractice insurance does not cover
Malpractice insurance coverage for medical professionals does not cover medical treatment for weight loss, plastic surgery, genetic damages, and AIDS-related conditions. Additionally, the insurance does not cover criminal acts, penalties, fines, punitive or exemplary damages, intentional non-compliance, wilful neglect, or deliberate acts. Furthermore, loss of goodwill is not covered, nor is medical practice while under the influence of drugs or alcohol. Losses arising from acts of war, terrorism, or invasion, as well as losses caused by fraudulent claims or contractual liability, are not covered. Claims resulting from actual or alleged unfair competition are excluded, as are losses from insolvency or bankruptcy.
Frequently Asked Questions
Yes, medical malpractice insurance is necessary for doctors in India to protect themselves against legal claims arising from malpractice or negligence. In some states, it is mandatory for doctors to have malpractice insurance before starting their practice. Malpractice insurance helps cover legal defence costs, settlements, and damages to patients, ensuring that doctors can operate without worrying about the financial impact of a malpractice claim.
The malpractice insurance starts at a policy premium costing Rs. 9,440 for a coverage of Rs. 50 lakh. For a higher coverage of Rs. 1 crore, the premium is Rs. 12,980.