Medical Malpractice Insurance

Medical procedures save millions of lives each year, giving patients the ability to recover from serious, often life-threatening injuries and illnesses. While most emergency and planned medical procedures go off without a hitch, not every medical professional demonstrates the care, caution and skill that are all part of making a medical procedure a success. However, if you are a physician or other healthcare professional, you know that not every operation goes perfectly smoothly. If a surgery or other procedure you perform results in complications, further injury or loss of bodily functionality, you may find yourself facing a medical malpractice lawsuit. These costly, time-intensive suits can not only cause financial distress, but can send your practice into uncertainty, turmoil and ruin. In order to protect yourself against medical malpractice claims from patients, here are some things you should know about medical malpractice insurance and how it can benefit you now and in the future.

What is Medical Malpractice Insurance?

Just as you insure your car, home and life against perils, medical malpractice insurance allows physicians and other healthcare professionals to insure their careers against potential medical malpractice claims that could be filed against you by patients who feel as though they received inadequate or improper treatment for illness or injury. Medical malpractice insurance, also known as medical professional liability insurance helps absorb some or all of the costs associated with a medical malpractice lawsuit. A medical malpractice policy not only covers any bodily injury, property damage or personal anguish associated with a claim, but also can help pay for any investigative or legal services necessary for your court case. Physicians and other healthcare professionals can rest assured that with a medical malpractice insurance policy, they are covered against a number of costly legal and medical expenses as they prepare to defend themselves against the plaintiff. Medical malpractice insurance helps make a difficult time better by mitigating the stress associated with exorbitant out-of-pocket costs for a medical malpractice lawsuit.

Types of Medical Malpractice Insurance

Two main types of medical malpractice insurance- occurrence or claims-made- exist to help you if you have been hit with a medical malpractice lawsuit. Occurrence-based medical malpractice insurance covers loss that occurs during the policy period, meaning you are protected from the moment you purchase your insurance policy, regardless of when the claim was made, even if your current policy has been cancelled.

Claims-made insurance policies covers loss resulting from a claim when it is made, as long as it is within the time frame that you own your insurance policy. The claims-made form is the preferred type of medical malpractice insurance today.

If you are a healthcare professional in or around the Washington, DC area, it’s best not to risk your career and your finances on the possibility of a medical malpractice lawsuit when you can purchase a medical malpractice insurance policy. Call the law office of Lloyd J. Eisenberg and Associates today at 301-596-3636 to learn more about medical malpractice insurance and how it can benefit you.

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