What does Medical Malpractice Insurance mean? Read on to discover the definition & meaning of the term Medical Malpractice Insurance - to help you better understand the language used in insurance policies.
Medical Malpractice Insurance
Coverage for the acts, errors, and omissions of physicians and surgeons, encompassing physicians professional liability insurance, hospital professional liability (HPL) insurance, and allied healthcare (e.g., nurses) professional liability insurance. Although the majority of policies are written with a claims-made coverage trigger, such coverage is sometimes available on an occurrence basis. Typical exclusions are for: intentional/criminal acts, punitive damages, sexual misconduct, and specialized procedures (e.g., radial keratotomy) for which coverage may be "bought back" in return for additional premium. In addition to commercial insurers, medical malpractice coverage is also available in most states through physician-owned insurance companies known as "bedpan mutuals."
We hope the you have a better understanding of the meaning of Medical Malpractice Insurance.