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DOCTORS - PROFESSIONAL INDEMNITY INSURANCE

WHAT IS A PROFESSIONAL INDEMNITY DOCTORS ?

Professional Indemnity Doctors insurance covers legal costs and expenses incurred in your defense, as well as any damages or costs that may be awarded, if you are alleged to have been negligent in providing a professional services that cause the client to lose money.

COVERAGES

  • Coverage against legal liability (including Defense Costs) to pay Damages for third party
  • Claims arising out of professional services
  • Insurance Company will indemnify the Insured for those sums which the Insured, as a result of conducting the insured profession, will become legally liable to pay as damages for loss caused by an incident which takes place in the coverage territory during the policy
professional indemnity insurance for doctors - vector image of a Doctor and 3 people
professional indemnity insurance for doctors - vector image of couple and 2 kids

EXTENSIONS:

  • Medical Practitioner’s Endorsement
  • Loss of documents including Computer records, viz medical records
  • Breach of confidentiality viz personal information

TERRITORY AND JURISDICTION

  • Worldwide including USA/Canada

UNDERWRITING INFORMATION

  • Duly filled signed, stamped and dated Proposal Form
  • Name of the Insured
  • Area of Specialization
  • Details of Staff/Partners
  • Estimated Annual Revenue for the proposed period of Insurance
  • Limit Required
  • Medical Registration number
  • Number of patient’s visits per day.
  • Expiring policy copy / premium. If available
  • Past claim History-Events which may lead to claim in future
professional indemnity insurance for doctors - vector image of 3 people and 1 person on wheelchair
professional indemnity insurance for doctors - vector image of doctor

EXCLUSIONS

  • Known Prior Matters and Notifications
  • Contractual Liability
  • Insolvency
  • Patent & Trade Secret
  • Prior Claims/ Circumstances
  • Prior Acts
  • Employment Practice Violation
  • Insured versus Insured
  • Fines, Penalties , Punitive damages etc
  • Pollution

CLAIM PROCESS: STEP BY STEP

  • Receipt of Notice: Claim or Circumstance
  • Acknowledgment Evaluation of issues & understanding legal position
  • If Circumstance:
    • Request further information
    • Consideration of mitigation steps
    • Follow up
  • If Claim:
    • Initial investigation
    • Request further information
    • Appointment of Defense Counsel
  • Coverage Assessment:
    • Information Flow
    • Potential Exclusion Highlighted
  • Defense Strategy:
    • Initial investigation
    • Meetings with Defense Counsel, Insured and other Experts
  • Team Approach :
    • Meetings with Insured and Defense Counsel
    • Reports from Defense Counsel
  • Resolution:
    • All endeavors made to ensure minimization of total liability & cost
professional indemnity insurance for doctors - vector image of 2 men

The process will be discussed with the Insured in advance, to ensure that in case of a potential crisis, all parties are aware of the procedure as such.

*Deductible / Retention -0.5 % of Aggregate limit of Indemnity for each and every claim

 

 

DescriptionSum Insured
AOA/AOY5,00,00010,00,00015,00,00025,00,00050,00,0001,00,00,000
IPhysicians with/ dispensing and other facilities General

Pathologist

1,2502,0003,0005,00010,00019,000
IISpecialist- Consulting Physician

( Non- Surgical )

1,500 

 

3,000

4,5007,50015,00028,000
IIISurgeons (Excluding Specialists in Plastic Surgery), Radiologist, Lithotripsy, Dentists & similar extra corporal methods of treatment would

within this category

2,0004,0006,00010,00020,00037,000
IVSurgeons (Plastic Surgery) &

Anesthetist

2,5005,0007,50025,00046,000

**NOTE – Given Premium is excluding GST