Professional Liability Insurance is essentially an insurance that protects a professional individual from any claims they are held responsible for. For those in the health and medical field, there are times that unsatisfied clients will hold them responsible for malpractice or failure to perform as expected from their particular practice. This leads to legal issues and litigations that cost thousands upon thousands of dollars. If you are protected by professional liability insurance, your coverage will cover your legal defense expenses, whether there are even any grounds or merit for the charges or not.
These days, as long as you practice healthcare or medical profession, it is in your best interest to get a professional liability or Proliability Insurance for Health and Medical professionals. Even if you practice as a nurse, as a pharmacist, as a social worker, or as a forensic scientist, you still need the protection of a proliability insurance. This after all is your protection from any legal issues that may arise from your performance as healthcare and/or medical professional.
Professional Liability Insurance for medical professionals is often termed as malpractice insurance. This basically covers the insured from medical professional claims and damages that may arise from their professional actions or omissions on their part. Even though many of the claims really do not have any merit, this type of insurance is still a safeguard protection from such.
Due to growing population, healthcare and medical professionals may not have enough rest on their part. Stress and lack of rest or sleep sometimes lead to some types of misdiagnosis, incorrect prescription, wrong treatment, as well as surgical errors. These are all medical considered medical malpractices. If you have been sued and proven to have performed malpractice, you will surely get bankrupt if you do not have the protection of liability insurance. Worst case scenario is, you may even get your license as healthcare or medical professional get revoked. This is why it pays to have professional liability insurance as protection.
Even if the company, hospital, or healthcare facility you are working for has some type of insurance, it still pays to have your very own proliability insurance. After all, the insurance that they have is in their interest and not yours so surely it does not have enough coverage to protect you from different case scenarios.