Professional liability insurance for doctors is a coverage plan that protects medical professionals against claims related to errors and omissions while rendering professional services. Also known as errors and omissions (E&O) insurance, professional liability coverage for doctors provides protection against third-party liabilities arising as a result of negligence or misdiagnosis, incorrect course of treatment suggested, consultation given, etc.
Our doctors’ liability insurance policy comes with coverage value up to Rs. 1 crore, to suit extensive risks and liabilities arising due to professional services. A physician liability insurance plan can extend to several medical professional liabilities listed below.
Doctor’s professional liability insurance coverage is extended under instances where a third party or patient claims for financial losses, harm, injury or death arising out of such omissions and errors.
The plan comes with extensive professional liability insurance coverage to suffice for risks and liabilities arising out of a doctor’s practice. Professionals can opt for the amount as per their budget, practice size and risks identified. Bajaj Finserv brings its Professional Indemnity Insurance for Doctors with a coverage amount of up to Rs.1 crore.
With Bajaj Finserv, medical professionals can avail an Indemnity Insurance plan of up to Rs.50 lakh against a premium payment of Rs.9,440. For coverage of up to Rs.1 crore, the premium amount is Rs.12,980.
Apart from financial losses arising out of practice incidents, a healthcare professional can also claim medical liability insurance coverage for the following damages:
- Losses arising from third-party
- Cost of defence involved in court proceedings
- Confidentiality breach
- Document loss
- Cost of filing a case of slander, defamation, etc. post proven not guilty
Bajaj Finserv also offers medical professional liability insurance claim redressal within minimum time. Receive settlement within 30 days of submitting the required documents, subject to meeting the terms and conditions of the policy.
Follow a few simple steps to claim your professional liability insurance amount.
Individual medical practitioners can avail professional liability insurance plan basis their history of no previous claims. Bajaj Finserv offers the healthcare professional liability insurance policy to doctors categorised as MBBS, BHMS, BPT, BDS, BAMS, MDS, MD, MPT, MS and above. For applicants with a history of past claims, the categorisation is based on the opted limit.