Liability Coverage and Why Doctors Need It


Liability coverage is something that doctors need to have when practicing medicine to prevent damages from lawsuits. People make mistakes, even medical professionals. Doctors can face lawsuits when evidence points to problems with treatment or care, whether it’s their fault or not. In addition, life doesn’t go as planned, leading to unexpected events or results. In today’s world, errors and unanticipated paths have consequences, some of which cost money and jeopardize careers.

Liability Coverage

Physicians who face extensive claims without medical professional liability insurance see devastating effects, such as closing practices and financial difficulties. Therefore, safeguards remain critical in maintaining operating status. Investing in appropriate coverage provides that protection. Understand liability insurance and why it’s vital today.

Why Doctors Need Liability Coverage

Medical staff makes decisions regularly, using knowledge, experience, and awareness. Many choices work out; some do not. Patients may require tweaks in their medication, need additional procedures or suffer adverse reactions. Families and individuals often understand that adaptation and effects happen, willing to work with other options or accept the situation.

At some point, people experience a negative result or possibly death. Even if doctors followed protocol and did everything right, these unfortunate events can lead to a lawsuit from the family or the patient. The Insurance Information Institute notes that most professionals experience a least one suit within their careers. The field doesn’t matter. Furthermore, studies from the American Medical Association emphasize that at least 34% of doctors had patients declare a suit against them. At least 16.8% had it happen more than once. The field doesn’t matter—those working in healthcare face this risk.

Without a policy, doctors and their groups pay out of pocket for legal fees and the costs if a verdict sides with the plaintiff. Amounts for claims vary but can get costly, seeing final tabs from several hundred thousand to upwards of one million.

Liability Insurance for Doctors

Because doctors can’t control every situation, medical professional liability insurance exists. Physicians pay premiums to the insurance agency. In turn, the insurer assumes the risk. Doctors focus on patient care, and if a claim arises, the agency steps into the situation to work with the case.

Work with an agent to discuss the type of policy available and its coverage. Basic guidelines provide security for working with patients but do not go beyond that. However, doctors do more than that. They train residents, interact with other personnel, participate in research studies and white papers and hire staff. Like other facilities, problems can happen with equipment or technology. Discuss if liability insurance assists with these issues as well. 

Winning a suit means not paying out the final tab; however, the battle in offices and courtrooms quickly adds up. Liability insurance could offset these costs as well.

Doctors shouldn’t look over their shoulders with every decision. With medical professional liability insurance, physicians gain a reliable and solid defense against claims, allowing doctors to focus on their jobs and minimize the financial impact of settlements.

About The Hilb Group

Deciding what coverage you need and what limits and deductibles make the most sense can be tricky. Founded in 2009, the Hilb Group has been helping clients to make sense of their options and make the smartest choices for their circumstances. Whether you need Warehouse Insurance or any other type of business or personal coverage, we encourage you to contact our friendly, experienced, and capable team today. Call us at (800) 776-3078 for a consultation.