What is Malpractice Insurance

What is Malpractice Insurance
Malpractice insurance, or professional liability insurance, pays for losses resulting from injuries to third parties when a professional's conduct falls below the profession's standard of care. For example, if a doctor makes a mistake that other doctors of his specialty would not have made, his patient might sue him. A malpractice policy will pay his defense costs and any judgment or settlement. Malpractice insurance is available for doctors, dentists, accountants, real estate agents, architects, and other professionals.

 

  • Coverage for a professional practitioner, such as a doctor or a lawyer, against liability claims resulting from alleged malpractice while professional services were performed.
     
  • a professional liability coverage that insures physicians, Lawyers and other specialists against suits alleging their negligence
     
  • Insurance against the risk of suffering financial damage due to professional misconduct or lack of ordinary skill. Malpractice requires that the patient prove some injury and that the injury was the result of negligence on the part of the professional.
     
  • insurance purchased by physicians and hospitals to cover the cost of being sued for malpractice; "obstetricians have to pay high rates for malpractice insurance"

  • Taking precautions before an accident can help to keep insurance rates down. Following are steps businesses can take to lower the chance of a liability insurance claim:

    Set a high standard for product quality control.

    Make sure all company records are complete and up-to-date.

    Be sure employees are properly trained.

    Check with your insurance company to see what safety steps they recommend for your particular business.

     

     

     

    If you have insurance questions please call Les Robinson at 1-800-836-2040 or e-mail at lrobinson@thenorthwoodscorp.com

    For a quote on Commercial Insurance call Les Robinson at 1-800-836-2040 ext. 3014 or go to website at  http://www.wnyinsurance-quote.com/html/quotes.html

    Lester J. Robinson III, FICF, CC

    Insurance Broker

    The Northwoods Corp.

    8810 Main Street

    Williamsville, NY 14221

    Phone: (716) 626-0004 Ext. 3014

    Fax: (716) 626-5057  Att: Les

    lrobinson@thenorthwoodscorp.com 

    See “the ABC’s of Insurance” TV show on Time Warner Cable in Western New York hosted by: Les Robinson