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Malpractice Insurance Info |
Malpractice insurance is a type of insurance bought by
professionals, like medical specialists, layers and policemen, and
provides financial cover for them in case an action against them for
malpractice is being brought. Malpractice is an act which causes damage
to any person or a
group of people and which is a result of careless implementing a
professional
duty or deliberate wrong-doing. Medical personnel often
need to buy malpractice insurance; it is also known as personal
liability insurance or medical malpractice insurance.
Malpractice insurance provides protection from lawsuit; sometimes other
coverages can be included into the policy, property
insurance for
example. The policy can cover the insured person up to several million
of dollars. However, the necessary coverage amount can vary from
country
to country or from state to state in the US. It depends also on a
professional's occupation, doctor experience, amount of insurance
needed under the malpractice law and the type of insurance, e.g.
individual or group.
But in general, malpractice insurance is the most expensive type of
insurance. The highest premiums are paid by surgeons and obstetrician,
who are sued by their patients more often. Nevertheless, nurses,
therapists,
dentists benefit from malpractice insurance as well. Medical schools
have to also carry this type of insurance policy to cover their
students and
departments. |
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