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Medical Malpractice Insurance

Doctors and other healthcare professionals dedicate their lives to helping others.  Unfortunately, their profession carries risks and challenges unique to their industry.  Accidents can happen in even the safest of medical environments, and, whether real or perceived, these errors can lead to costly medical malpractice claims.  Medical malpractice insurance is designed to protect doctors, nurses and other providers from the financial damage a medical malpractice claim can cause.


Why is Medical Malpractice Insurance Necessary?

Healthcare professionals understand how serious the threat of a medical malpractice claim can be.  According to a 2008 Harvard School of Public Health study, about $55.6 billion is spent every year in the U.S. on medical malpractice costs, with $45.6 billion of that spent on defensive medicine by doctors trying to avoid claims being brought against them. Simply put, it is important to avoid medical malpractice claims at all costs.  Even when damages are not awarded, legal fees, expert testimony, and court costs for these often complex cases can be astronomical. The risk to a practice’s bottom line is real, and medical malpractice insurance is designed to cover that risk.

It is important to also note that the medical malpractice insurance independent doctors receive through their employers often comes with significant gaps that still leave room for exposure.  Supplementing employer policies with individual medical malpractice insurance can help cover those gaps.

What is Covered by Medical Malpractice Insurance?

A medical malpractice insurance policy will typically cover some or all of the following costs:

  • Legal costs: Medical malpractice attorneys are often highly specialized lawyers and, as such, their fees are also typically very high. Related legal costs such as paperwork, medical records, and expert witnesses – all of which are common in medical malpractice cases – can also drive up legal costs significantly. Medical malpractice insurance is designed to cover doctors for most or all of these expenses.
  • Settlements and awards: Many medical malpractice cases are resolved through settlements. Medical malpractice insurance can also cover a portion or all of the settlement amount. Additionally, if a claim goes to trial and damages are awarded to the plaintiff, the policy can cover some or all of those damages, too.

How To Get Medical Malpractice Insurance

Medical malpractice insurance can help protect against the fallout of a claim and secure a healthcare professional’s livelihood.  AmVenture is proud to support healthcare practitioners and providers by offering insurance solutions tailored to their industry’s needs.  Contact us today to learn more about how our coverage solutions can offer protection that helps support the provision of exceptional patient care.

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