How does Professional Indemnity protect doctors against unforeseen financial loss & reputation damage?

In the course of performing their responsibilities, doctors treat a huge number of patients every day. Usually, medical practitioners are in charge of their patients’ diagnoses. They provide them with advice on necessary treatment or surgeries. Often the advice given by doctors turns futile and leads to serious implications like complicated health conditions and bodily injuries. During such events, patients decide to file a legal case against such doctors on grounds of medical negligence or errors. Though the mistakes they commit are usually unintentional, they suffer a loss in credibility, with added financial damage. It is in such a situation that medical professionals seek Professional Indemnity. This is a typical insurance plan that offers legal and financial protection to doctors if their patients accuse them of any medical malpractice or carelessness. 

If you’re looking for the best Professional Indemnity that can keep your reputation and income intact, then CoverYou is here. Certified by the IRDAI, we are one of the fastest-growing insurance brokers in India to offer various kinds of Professional Indemnity schemes to doctors and other medical professionals. Since the specialization of every doctor varies, we offer them insurance plans tailored to their requirements. Want to learn how Professional Indemnity protects doctors against financial and face loss? Follow the blog till the end. 

How Professional Indemnity Safeguard Doctors?

Here are the pivotal areas where Professional Indemnity insurance for doctors can be of high relevance. 

By Acting as a Financial Aid

Claims related to medical malpractice can cause a serious financial breakdown for doctors. To fight against such allegations, you will require sufficient money to pay your lawyers. Also, if you lose the case, you may have to provide the compensation amount as claimed by your patients or their family members. It is such a scenario that Professional Indemnity acts as financial aid to doctors. This insurance covers the legal expenses on your behalf so that you don’t have to spend out of your pocket.

By Building Reputation and Patient Trust

If you have Professional Indemnity insurance, patients will have trust and confidence in your capabilities. Thereby, helping you retain your reputation. Having Profesional Indemnity insurance makes patients think about the credibility of the doctors. If you’re insured with this type of policy, it highlights that you don’t fear taking accountability for your actions. It makes them believe that you are prioritizing their well-being and would take any necessary measures to reduce risks. Everyone always respects a trustworthy doctor. Also, various medical associations want their doctors to have Professional Indemnity. Thus, to keep your practice going smoothly, consider getting one from us. After all, more than 50 medical associations across India rely on our insurance plans. 

By Being Compliant with Regulatory Requirements

For many medical associations, doctors must have Professional Indemnity. With the rising number of medical negligence cases brought by patients, many regulatory bodies have found it essential for doctors to defend themselves. This is mainly because only a few number of cases are found to be genuine in the court of the law. Professional Indemnity serves as a tool that protects patients’ requirements and strengthens the professional benchmark in the medical field. Our Professional Indemnity insurance will help you perform your duties at the highest level with a great deal of accountability and professionalism. 

By Offering Peace of Mind

In the medical profession, aspirants are provided with extensive knowledge and training, whatever specialization they’ve chosen. However, there have often been situations in which doctors have made mistakes that led to severe consequences. Generally, patients file legal claims against the doctors in charge when such a situation arises on grounds of medical negligence. This charge can disrupt your peace of mind as a doctor. To defend yourself from these charges you will require money to pay your lawyers. This is where CoverYou’s Professional Indemnity comes into play. Not only do we offer the financial aid you need to fight the case but also we can provide you with medico-legal professionals who have years of experience in dealing with such matters. While our lawyers would brainstorm on how to negotiate with your patients, you can keep doing your job peacefully. 

Conclusion

Professional Indemnity ensures to safeguard doctors and other related employees from liability claims and offers a secure working environment. With our Professional Indemnity insurance, you can concentrate on providing quality care to patients without worrying about any unforeseen events. Our 24/7 customer support will resolve all your queries about insurance policies, right from their application to issuance. To know more about our Professional Indemnity features, check out our official website.