Malpractice insurance for medical professionals is the industry’s liability insurance, but finding the right policy can prove challenging, especially in states where premiums are high. Using the services of a broker places the job in the hands of an expert.
Protecting Your Practice
In the course of your career, there is a distinct probability that you will be faced with charges of negligence, substandard care or errors that result in a patient’s injury or death. The results can be ruinous unless you carry an adequate policy. With the right insurance, you can expect coverage for:
- Court costs
- Attorney’s fees
- Awarded settlements or damages
Finding the Right Insurance
Premiums for malpractice insurance can vary widely, as can the quality of coverage. Med mal insurance brokers do the research for you. It is their job to know the legal structure regulating malpractice suits in their state of operation, a factor that contributes to policy standards and premium structures. Your advisor will work directly with the insurance agents to obtain the highest quality policy for the lowest possible costs to you. The brokerage fee is already built into the price of the insurance, whether you do the work yourself or utilize the services of a professional; thus, there are no out-of-pocket expenses.
If you work in the medical field, procuring a high-quality policy is a necessity to prevent financial devastation should a lawsuit be awarded in the plaintiff’s favor. Medical malpractice insurance brokers provide you with an invaluable service and peace of mind.