Medical Malpractice Insurance
Medical negligence, neglect, misdiagnosis or a lack of duty of care can all lead to significant claims for compensation. Medical professionals face a variety of risks every day, it’s essential to be well-protected.
We can offer bespoke yet cost-effective medical malpractice insurance for a range of professions. You’ll have the benefit of one of the broadest wordings on the market (which means wider and more flexible cover) and the reassurance of specialist medical underwriters behind your cover.
Our medical liability insurance can protect both you and your business (including worldwide, if that’s what you need), and meets NHS contractual requirements. We also provide specialist advice on risk management, helping you to prevent claims before they can arise did something wrong.
Medical Malpractice Coverage
Medical malpractice policies cover liability associated with any form of wrongful practice (intentional or not), with a particular emphasis on bodily injury, property damage, and medical expenses. They also cover defending against lawsuits related to these (many of which can take more than a year to reach a successful conclusion).
There are two major types of coverage:
- Occurrence policies cover against losses that happen during the period that a policy was in force, since many people may not file suit for more than a year after the alleged malpractice incident. Once the suit is filed, it may take more than two years to resolve.
- Claims Made policies cover any claims that are made during the time the policy is in force (and usually for a set period of time afterward, in the case of ongoing litigation).
A majority of malpractice cases can and will be settled out of court, without ever having to risk the high claims of a trial The CFI Agency agents try to work towards this outcome whenever they can—settlements rarely happen until late in the process, but they allow for lower payouts when necessary. This helps us keep your premiums low, and protects you from the anxiety (and interruption of your business) that a trial can bring.
Be sure you know which type of medical malpractice insurance you have and how long it covers you for, since this can determine whether or not you have any coverage at all if a suit is brought against you. If you're not sure how long you'll need coverage for, one of our agents can talk with you about your plans for the future and how much insurance you need.