Although a noble profession, medical practitioners increasingly face complaints and legal cases of negligence. A study showed a 400% rise in medical negligence cases were reported in consumer courts. This makes the best professional indemnity insurance plan in India a necessity for doctors.
Indemnity cover is a specialised insurance policy which provides financial coverage against various professional risks and losses incurred. It comes with attractive features like high coverage amount of up to Rs.1 crore, quick claim redressal, minimum documents, the easy application process, etc.
Apart from these, there are various other reasons why medical practitioners should purchase a professional liability insurance plan. Firstly, the quantum of compensation that patients claim is based on the extent of damage, stress, and anxiety they went through.
As no specific formula exists, doctors end up paying exorbitant amounts. Furthermore, they need to bear other legal expenses such as lawyer fees, court charges, investigation costs, etc.
An indemnity insurance policy also ensures to keep your practice running and protects your reputation in public. Nowadays, leading financial service providers bring tailored insurance plans at competitive premiums.
You can also address additional financial requirements with a loan for doctors effortlessly. While it is not mandatory, having an insurance policy cover makes you confident enough in your medical profession.