Scope of Medical Malpractice Liability Insurance

The intent behind the concept of medical malpractice liability insurance is to provide cover to all health care practitioners against any liability claim which may arise as a result of the treatment provided by them to the patients. The claim are generally made by the sufferer, patient in this case. If the health personnel is found guilty of conducting any professional misconduct, the award for the damage claimed may reach in millions and even larger if the damages are vindictive. Thus, we can say that the medical malpractice insurance premiums acts as a shield for the health care personnel to protect him/her from bearing heavy financial claims. This is because the insurance rates are high and fallout for the same is severe. 

 

However, as rates for your auto insurance hike every time you get a ticket, the medical malpractice insurance rates also increase every time a health care practitioner found guilty of a professional misconduct. Additionally, there has been a steep increase in the cost of medical malpractice insurance rates which has caused adversity to many professional belonging to the medical community.

Health care personnel and hospitals are finding professional misconduct insurance difficult in terms of affordability and availability so much that many of the health professionals re running out of their business.