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Medical Malpractice Policies– Don’t Get Burned

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.

Insurance companies will generally argue the limits and exclusions of your policy until a judge rules on whether they are indeed required to pay legal fees. Such a headache on top of the hassles of a lawsuit in the first place, is something every professional wants to avoid, so it’s imperative to understand what your limits and exclusions are. Even so, not every situation can be predicted or prevented. Additional coverage is needed to make sure you don’t get burned.

It is important to understand the common exclusions in medical malpractice policies.  For example, policies often exclude coverage for professional acts outside of your office or regular hours. So, if you ever have to act fast or provide medical advice outside of your normal operation, you could be vulnerable.  Malpractice policies also generally do not protect you from sexual harassment claims or judgments against you, slip and fall claims, or breach of contract or even a breach of security situation. A policy from XINSURANCE can cover the cost of your legal defense, and may also cover the difference not covered by your malpractice policy, in the case of a judgment against you.

Some policies may have a per-incident maximum which will not cover you completely in the event of a judgment that exceeds this limit.  A customized individual liability insurance policy will not only cover such gaps, but can provide legal protection from frivolous lawsuits. As one lawyer put it, you do not want to be “one lawsuit away from financial disaster.” As a medical professional, it’s impossible to predict or prevent situations that produce individual liability. Additional coverage is needed to make sure you don’t get burned.