Medical Malpractice Insurance for Physicians

Medical malpractice insurance for physicians protects doctors from lawsuits related to negligence, misdiagnosis, or errors in treatment, covering legal fees and settlements.

Medical malpractice lawsuits can financially devastate physicians. With the average malpractice claim costing over $300,000 in indemnity payments alone, every practicing doctor must have robust coverage.

What Is Medical Malpractice Insurance?

Medical malpractice insurance is a form of professional liability coverage specifically designed for physicians. It protects against claims of negligence, misdiagnosis, surgical mistakes, prescription errors, and other patient care issues.

Why Physicians Need It

• High claim frequency – On average, 7% of doctors face a malpractice claim each year.

• Massive costs – Defense expenses can exceed $100,000 per case, even if the physician wins.

• Legal requirements – Many states, hospitals, and healthcare systems require proof of malpractice insurance to practice.

Types of Policies

1. Claims-Made Policy – Covers incidents reported during the active policy period.

2. Occurrence Policy – Covers incidents that happened during the policy, regardless of when they are reported.

3. Tail Coverage – Extends protection after a claims-made policy ends.

What Does It Cover?

• Legal defense fees

• Settlements and judgments

• Court costs

• Licensing board hearings

• Expert witness fees

How Much Does It Cost?

• Premiums range widely: $7,500 – $20,000 annually for primary care physicians.

• Specialists like surgeons or OB-GYNs may pay $50,000 – $200,000 annually, due to higher risk.

• Location and claims history significantly influence rates.

Tips for Lowering Costs

• Maintain a clean claims history

• Choose higher deductibles

• Participate in risk management programs

• Compare quotes from multiple carriers

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