For any business owner, insurance can be a necessary safeguard for preventing any problems with your services. For example, retailers that sell products to their customers can purchase product liability insurance to help them if a customer raises a claim against them for supplying a defective product. For medical practitioners, the most effective kind of insurance is medical malpractice insurance, helping you get the support you need when facing a medical malpractice claim.
What Is Medical Malpractice Insurance?
One of the most important, yet tricky-to-understand types of insurance that healthcare providers can purchase is medical malpractice insurance. If a patient files a medical malpractice claim alleging negligence on your staff’s behalf that leads to injury or harm, medical malpractice insurance carriers issue policies to defend doctors, clinics, and healthcare facilities. Medical malpractice insurance will most often cover instances of:
- Any harm that was done during a procedure
- Medical expenses related to an accident, if the medical practitioner is found to be negligent
- Property damage associated with the claim
- Medical expenses incurred due to the injury at the center of the claim
Admitted and non-admitted carriers are the two different categories of insurance companies that offer medical malpractice insurance in Georgia. The primary distinction between both is how each is authorized and controlled. An insurance broker can help you navigate these factors and decide which course of action is best for you. Depending on the coverage you may need, there is a wide array of programs to choose from, all beneficial for establishing your coverage in the event of a malpractice case.
Why Is Malpractice Insurance Important?
Just like other forms of insurance, medical malpractice insurance makes sure that medical professionals have the coverage needed to handle these claims. If they are accused of negligence during a procedure, medical professionals are helped by medical malpractice coverage to avoid legal liability. For example, if a surgeon is accused of malpractice by a former patient who alleges that the surgeon did not properly execute the procedure, that surgeon can use their malpractice insurance to help settle the claim.
Medical malpractice insurance serves to guarantee that patients receive the care they require without having to worry about the standard of care, as well as protecting doctors and other healthcare professionals. Most hospitals demand malpractice insurance before hiring a new doctor or surgeon. In Georgia, the majority of providers are required to hold medical malpractice insurance with a minimum limit of $1,000,000 per incident and $3,000,000 cumulatively every year/policy period. As a result, all healthcare providers must be covered by malpractice insurance, with no specialties or practices being excluded.
What if I Don’t Have Malpractice Insurance?
One prevalent misconception is that Georgian physicians are all covered by malpractice insurance. This makes many individuals believe there will be insurance to cover damages if a doctor does them harm. Georgia law does not mandate that medical professionals carry malpractice insurance, but most hospitals are recommending that doctors purchase malpractice insurance to aid in their practice.
Although slightly more involved than typical malpractice cases, going into legal proceedings without malpractice insurance is possible. Insurance companies can expedite the claims process, making these cases easier to settle than without. If you as a medical professional do not have medical malpractice insurance, it is in your best interest to purchase a plan to pay for these damages.
Seeking Legal Help With a Malpractice Claim
Medical malpractice is serious on both sides of the case, and as a medical provider, getting ready for any malpractice-related claims can be an essential, reputation-saving step for your practice. At Lamar Law Office, we can help you navigate your medical malpractice insurance coverage. For a consultation with our firm, contact us to get started.