Talk to us about your Medical Malpractice Insurance
In the medical and healthcare industry, even the most experienced professionals can encounter unexpected challenges. While medical errors are uncommon, their consequences can be severe. Even when allegations are ultimately proven unfounded, the cost of defending a claim can be substantial. Such incidents not only risk patient harm but can also result in legal action and financial strain, potentially affecting both the professional’s livelihood and the reputation of their practice.
With tailored insurance coverage from Barrack Broking, medical and healthcare professionals can manage these risks effectively. Our solutions help protect against financial exposure, allowing practitioners to focus on patient care while safeguarding the integrity and credibility of their practice.
What is Medical Malpractice Insurance?
Medical Malpractice Insurance is a specialised form of Professional Indemnity Insurance designed to protect healthcare professional and organisations from claims of negligence or errors resulting in bodily injury, medical complications, or financial losses to patients.
The insurance policy includes a range of covers specific to healthcare and medical providers, and it can be adapted to the businesses specific risk profile. Medical Malpractice insurance can include cover for the following:
- Breach of duty (including duty of confidentiality)
- Claims of bodily injury caused by a medical act or omission
- Defamation
- Medical Benefits Fraud Cover (vicarious liability cover)
- Infringement of intellectual property
- Molestation Defence Costs Cover
- Litigation costs associated with court cases and statutory and regulatory inquiries.
- Fund raising & social activities cover.
- Loss of or damage to documents (to the full policy limit)
Who needs Medical Malpractice Insurance?
Medical Malpractice insurance should be considered by all businesses providing professional healthcare services or operating facilities that deliver patient care. They are responsible for patient safety and wellbeing, manage sensitive personal and medical information, and operate under strict legal, ethical, and professional standards. Their work relies on specialist expertise and professional judgment, where errors or omissions can have significant consequences.
In essence, Medical Malpractice insurance should be considered to manage the risk of being professionally accountable healthcare providers whose operations carry both clinical and financial risk.
- General Practitioners and Medical Specialists
- Surgeons, Nurses, and Hospital Staff
- Allied Health Professionals (Physiotherapists, Dentists, Psychologists, etc.)
- Private Clinics, Medical Practices, and Healthcare Facilities
- Dental Clinics and Surgeries
- Radiology, Ophthalmology, and Fertility Centres
- Day Surgeries and Private Hospitals
- Practice Owners and Managers
Whether you operate independently, as part of a group practice, or within a larger hospital setting, this cover ensures that professional risks are appropriately managed.
FAQ's
What is the difference between medical malpractice and medical negligence?
Medical malpractice occurs when a medical professional knowingly conducts their work without following the set standard of care to their patients. Medical negligence occurs when a healthcare worker unknowingly neglects the standard of work which causes harm to their patient.
What is the difference between medical malpractice insurance and professional indemnity insurance?
Medical malpractice insurance covers injury and property compensation claims of medical negligence committed by a medical professional. Professional indemnity insurance covers compensation claims that are driven by economical loss.
Why Barrack Broking?
At Barrack Broking, we understand that the medical sector requires specialised knowledge and precision. Our principal-led team works closely with healthcare professionals to:
including scope of practice, specialties, and work environments.
incorporating coverage limits, retroactive protection, and indemnity options suited to your practice.
ensuring competitive terms and comprehensive protection.
including renewal advice, risk management guidance, and claims advocacy.
Our focus is on providing peace of mind so you can concentrate on patient care, confident that your professional risks are managed.
Talk to us about your Medical Malpractice Insurance
Safeguard your professional reputation and practice with confidence.
Contact Barrack Broking today to discuss a Medical Malpractice Insurance program tailored to your specialty, practice environment, and professional needs.
