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Malpractice Insurance

Definition

Professional liability insurance, also called professional indemnity insurance but more commonly known as errors & omissions in the US, is a form of liability insurance which helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client, and damages awarded in such a civil lawsuit.

What is 'Malpractice Insurance'

A type of professional liability insurance purchased by health care professionals (and sometimes by other types of professionals, such as lawyers). This insurance coverage protects health care providers against patients who sue them under the claim that they were harmed by the physician's negligent or intentionally harmful treatment decisions.

Explaining 'Malpractice Insurance'

Premiums are usually based on the physician's specialty and geographic location but not on claims experience. This means that even if a physician has never been sued, he or she can end up paying extremely high premiums. The premiums can become high because of factors such as amount of coverage needed, claims severity, claims frequency, location of practice and laws in the area.


Further Reading


Economics of oligopoly: Medical malpractice insurance as a classic illustration
www.jstor.org [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …

Impact of hospitalist care on hospital malpractice premiums using California hospital dataImpact of hospitalist care on hospital malpractice premiums using California hospital data
www.tandfonline.com [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …

The relationship between the markets for health insurance and medical malpractice insuranceThe relationship between the markets for health insurance and medical malpractice insurance
www.tandfonline.com [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …

Medical Malpractice Insurance and the Emperor's ClothesMedical Malpractice Insurance and the Emperor's Clothes
heinonline.org [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …

Damages caps, insurability, and the performance of medical malpractice insuranceDamages caps, insurability, and the performance of medical malpractice insurance
onlinelibrary.wiley.com [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …

“Crises” in medical malpractice insurance: Evidence of excessive price-cutting in the preceding soft market“Crises” in medical malpractice insurance: Evidence of excessive price-cutting in the preceding soft market
www.sciencedirect.com [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …

The forgotten third: liability insurance and the medical malpractice crisisThe forgotten third: liability insurance and the medical malpractice crisis
www.healthaffairs.org [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …

State responses to the malpractice insurance “crisis” of the 1970s: an empirical assessmentState responses to the malpractice insurance “crisis” of the 1970s: an empirical assessment
read.dukeupress.edu [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …

The economic consequences of medical injuries: implications for a no-fault insurance planThe economic consequences of medical injuries: implications for a no-fault insurance plan
jamanetwork.com [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …

The causes of the medical malpractice crisis: an analysis of claims data and insurance company financesThe causes of the medical malpractice crisis: an analysis of claims data and insurance company finances
heinonline.org [PDF]
… Extending malpractice insurance coverage to a health care provider under conditions of incomplete or … Indeed, no comprehensive database exists containing the malpractice experience of individual health … for health care providers that the particular insurer has insured for the …



Q&A About Malpractice Insurance


What is professional liability insurance?

Professional liability insurance protects health care professionals against patients who sue them under the claim that they were harmed by the physician's negligent or intentionally harmful treatment decisions.

How are premiums usually determined?

Premiums are usually based on specialty and geographic location but not on claims experience.

Why would a patient sue a physician?

A patient may sue a physician because he or she was harmed by the physician's negligent or intentionally harmful treatment decisions.

Why can premiums be high even if you have never been sued before?

This means that even if a physician has never been sued, he or she can end up paying extremely high premiums. The premiums can become high because of factors such as amount of coverage needed, claims severity, claims frequency, location of practice and laws in the area.

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