In medicine, we hear a lot about preventative care. In matters of asset protection, doctors would do well to follow their own advice. Physicians should prevent their assets from becoming vulnerable to a frivolous lawsuit. Being sued leaves much more at risk than a medical practice. Injured parties are seeking compensation for injuries received and in many cases a civil action against the physician to prevent further malpractice by the medical professional. Personal assets of the physicians are always looked at as a possible means of receiving compensation. Personal assets come into play in one of two ways:
If a judgment exceeds your medical policy limit
If the action in question falls under one of the policy exclusions
You know how difficult it is to apply sunscreen to your own back. No matter how much you stretch and contort, there is always a spot that you miss- right down the center. And after a day in the sun, that is the spot that causes you to lose sleep at night from the burning, prickly heat of a sunburn. Your discomfort is due to leaving that spot open and vulnerable. Unfortunately, some medical malpractice policies can leave you just as open and vulnerable to getting burned.