Introduction
Medical Malpractice insurance protects healthcare professionals and establishments against costly litigation following errors or negligence while providing medical treatment or consultancy. Tailor-made for specific risks encountered by healthcare professionals, it covers the compensation costs and legal fees that may be requested after being sued by a patient. The coverage may be for an individual practitioner or a medical facility. As each medical or healthcare professionals and establishments have a different risk profile, the Medical Malpractice insurance and premium will be personalised and catered to your needs to help you navigate through complex risks and costly litigation.
What does the product cover?
Insurance policies for the medical profession vary significantly in the breadth of coverage provided. For consideration, the top ten benefits that doctors need from their insurance include:
- Medical malpractice cover
- Covers all elements of a malpractice claim, from the initial costs of defending the claim, and amounts offered in settlement, to awarding of damages and/or costs.
- Protection for clinics and support staff
- Your practice legal entity and the support staff may come under fire. The policy extends cover to your clinic and support staff, so in the event of a claim against them, the cover will be available.
- Legal representation
- covers the costs of getting a competent lawyer to uphold your good reputation and fight your case. The policy covers the legal costs of engaging a competent lawyer.
- Singapore Medical Council (SMC) Disciplinary Inquiries
- Covers the cost of legal representation at SMC inquiries, to ensure that your interests are protected.
- Singapore Medical Council (SMC) Fines
- Should the SMC disciplinary tribunal impose a penalty that arises from malpractice, your policy will pay the fine for you if it is within the policy conditions.
- Good Samaritan Acts
- Your policy will cover you for Good Samaritan acts when you are involved in an emergency.
- Libel and slander
- The costs of defending allegations of libel and slander arising from your professional practice can be costly, but rest assured that the costs are included in the policy.
- Coroner’s Inquests
- An adequately prepared statement for a Coroner’s Inquest is a pre-emptive defence against later claims. Cover for the costs of preparing statements for the coroner, and legal representation, if needed at an inquest, is provided by your policy.
Policies for the medical profession are complex and nuanced. Always engage an insurance expert to cut through the complications before they become serious problems. Let us help you customize your policy and defend your reputation, and it all begins with comprehensive Medical Malpractice Insurance coverage with PromiseLand. Speak to us today!