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Professional Indemnity Insurance Schemes: Need of Medical Professionals

Legal cases against medical professionals are on the rise in India. While medical litigations increased a whopping 400% between 2005 and 2015, compensations for medical lawsuits rose as high as Rs.5.96 crore.

Given that only 33.69% of doctors are aware of the implications related to lawsuit management, it is even more essential to have a protection plan that helps mitigate the impending risks of medical practice. Professional Indemnity Insurance plan for Doctors thus perfectly serves to provide coverage against financial losses arising as a result of lost medico-legal cases.

It is a coverage plan that protects a doctor against financial setbacks arising out of professional litigations under circumstances like alleged diagnostic errors, improper treatment, etc. The plan also provides coverage against legal costs involved.

The benefits of an indemnity insurance plan for doctors extend from high-value coverage up to practice protection and many more.

With the availability of high coverage amount, doctors can opt for a suitable insurance plan that can adequately cover the practice’s identifiable risks that doctors face if they do not have professional indemnity insurance.

The best indemnity insurance plans also extend financial protection and coverage of additional costs as applicable to pursue litigation on the basis of libel, slander, confidentiality breach, etc.

Apart from these, such insurance plans assist in the smooth running of the business while providing safety to personal or professional assets.

You can further strengthen your practice by infusing additional funds in the business through professional loans for doctors.

As for the insurance plan, opt for a financer who offers sufficient coverage for identifiable risks in your practice.

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