Medical Indemnity Insurance is a type of insurance that is designed to safeguard medical practitioners like doctors, nurses or surgeons from legal claims. In simple words, this policy liberates you from all the risks and liabilities that may arise while performing surgery or any medical-related activity.
To understand Medical Indemnity Insurance, let’s take an example of one of the most popular Bollywood movies- Good Newz, where two married couples were unsuccessful in conceiving and tried seeking medical help for the same. However, they had ended up in a complicated situation due to the blunder made by their doctor.
In such a situation, where the patient faces any such issues due to the doctor’s or hospital’s unintended mistakes, he/she can file a claim, and the authorities are liable to pay him/ her the compensation.
In short, Medical Indemnity Insurance provides coverage in the below-mentioned cases:
As a doctor or any medical professional, it is your duty to treat your patients with utmost dedication. However, at times, in some circumstances, there is always the possibility that you or one of your team members could make a mistake unintentionally, which could create trouble.
In such scenarios, if the claim is made against you, your goodwill and your financial position could be left vulnerable.
To avoid such situations in the future, it is important to guard against the risk of legal action against you in advance with a Medical Indemnity Insurance plan. Such plans act as the safety net that will protect you from such severe actions by covering claims made against you.
Medical Indemnity Insurance is a cover relevant to all Healthcare Providers, including:
First thing first, inform your Insurer immediately of all the available details.
Submit all the documents related to the case along with the legal notice or summon, if any.
Your Insurance Company will thoroughly look into the matter and arrange for the defence of the particular case, whenever required.
Written By : Naval Goel
Last Updated : Aug, 2021
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Before choosing your ideal Medical Indemnity cover, you must ensure to cautiously evaluate the risk involved in your profession. Therefore, one must always select the sum insured that will cover any legal compulsion that you may have to face at any point of time.
Yes, in case a patient makes any false acquisitions against the doctor, the plan offers coverage to the doctor and also covers the expenses incurred in defending the claim.
No, it is not mandatory for doctors to buy Medical Indemnity Insurance. However, considering the nature of the risk of the medical profession, it is recommended to opt for a Medical Indemnity Plan.
The Sum Insured of Medical Indemnity plans is based on the limit of indemnity. The limits are:
Ratio of the limit can be chosen as the below-mentioned details-
Summing it up
In today's world, unwanted claims can cause a significant threat to the financial security for a medical practitioner. In such a situation, having Medical Indemnity Insurance is nothing less than a blessing. This plan secures you from the claims caused by unintended negligence or any accidents.
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