Medicine is a noble profession. The job entails treating patients suffering from health complications. However, sometimes, it becomes a case of life and death, and since doctors are human beings first, it is normal for them to make mistakes. Yes, despite years of training and knowledge, doctors can also make errors. Mostly, these mistakes are unintentional and occur due to negligence. Sometimes, the support staff or assistant neglects the matter. There are also instances where a patient dies due to severe complications. In all these situations, the doctors encounter liability allegations from patients or their families, which results in financial loss.
To protect the doctors from such a loss, insurance brokers like CoverYou have designed Professional Indemnity. It is a type of insurance policy exclusively curated for doctors to fight court cases brought by patients alleging medical negligence on doctors’ or their assistants’ part.
Why Are Doctors Seeking Professional Indemnity?
As public litigation has become more accessible, patients are holding doctors accountable more frequently than before. Mostly, patients file lawsuits against doctors on grounds of medical malpractice, errors, omissions, and carelessness. Following up with such legal allegations for doctors is daunting, expensive, and time-consuming. This is where Professional Indemnity comes to the rescue. It is a typical insurance plan that pays your legal expenses, and in some scenarios, the insurers will also provide you with legal assistance and infrastructure. If you’re proven not guilty or you are at fault on a surface level, then the insurer might pay for the claims brought by the patient parties as well.
The need for Professional Indemnity among doctors is increasing day by day. Several factors are responsible for it. Some of them are mentioned below.
- There has been a whopping rise in the number of medical negligence claims and lawsuits.
- People are now more aware of their legal rights and options.
- It is essential to pay compensation when such lawsuits are filed against doctors, and in that dynamic, Professional Indemnity can be of great help.
- Nowadays, it is significant for hospitals and healthcare organizations to ensure that the doctors affiliated with them hold Professional Indemnity as part of their employment agreement.
All these reasons have impacted more and more doctors who buy professional indemnity insurance to safeguard themselves from alleged financial and legal liabilities. At CoverYou, we provide Professional Indemnity to doctors, and our features have satisfied at least 1.5 Lakh doctors across India. If the patients and doctors agree to make a settlement out of the court, we also offer doctors the required funds up to the coverage amount.
Benefits of Professional Indemnity for Doctors
The Professional Indemnity for doctors is proving to be beneficial at different levels. Here are a few ways in which Professional Indemnity for doctors can be advantageous.
Credibility
Professional indemnity ensures that doctors retain their trustworthy image. It offers you credibility as a doctor, and you are believed to come out of any eventuality. Furthermore, by purchasing Professional Indemnity insurance, you will be ready to compensate your patients and family members if they are dissatisfied with your services. This insurance policy also instills confidence in doctors, helping them perform their responsibilities without worrying about potential risks.
Safeguards Reputation
If a dissatisfied patient files a complaint against the treatment or service that you’ve provided, then you have to compensate them. Court cases can be an expensive affair. Save your reputation, you will have no other choice but to fight the case. In such a situation, CoverYou’s Professional Indemnity can be your best friend. It will protect you from the massive financial blow arising from the lawsuits brought by patients.
Financial Protection
An essential advantage of Professional Indemnity is financial security. Since legal cases can be expensive, this insurance comes as a safety net for doctors. In the medical profession, negligence can be fatal, and the allegations brought upon doctors can be costly. But, if you’re insured with Professional Indemnity, you can leave all your worries behind. At CoverYou, we’ve got everything covered for you. We will provide 360-degree protection from legal expenses, compensation fees, and defense costs.
Saves Time
If you’re insured with Professional Indemnity, the insurer generally will take up the claims against you and would discuss facts, prepare legal files, and negotiate compensation. Of course, for that, huge expertise is required, and that is where CoverYou can help you. We offer our clients lawyer allocation within 2 hours, allowing them to discuss the matters with them and figure out a solution at the earliest. This process can save you time and allow you to continue your job easily. For 2nd level opinion, we also boast a panel of 200+ senior doctors who will guide you in the right direction.
Conclusion
It is expected that patients file complaints against doctors if they face any inconvenience with their services. After all, it is a free country, and we cannot stop people from exercising their rights. However, it is also important to protect the doctors from the huge financial loss that they might face, given the acquisitions put forward. Since doctors can also make mistakes and the legal costs and compensation fees can be exorbitant, they must have Professional Indemnity Insurance from CoverYou. To know how to buy one, visit our website.
