What is medical malpractice insurance?

What is medical malpractice insurance?

Medical Malpractice insurance provides insurance coverage to protect healthcare businesses and operations. If you work within the medical industry, then making sure that your medical malpractice insurance is appropriate for your operations. 

Medical malpractice insurance is insurance that is specifically designed to be useful if you operate a healthcare business such as a:

  • Hospital: both private and public
  • Medical clinics and medical centres
  • Medical and surgical practices
  • Day surgeries and specialist facilities
  • Working as a doctor or a surgeons
  • Cosmetic surgeons and practitioners
  • Beauty salons


In addition, Medical Malpractice insurance can offer insurance protection for medical professionals if they are liable due to a breach of professional duty. 

The depth and breadth of medical malpractice insurance that you require may change and can depend on the individual needs of your medical practitioners, the focus and capabilities of your medical facility and the level of coverage you require. Given the unique variables associated with each medical facility and medical practitioners, it is important to consider engaging a specialist insurance broker to help you navigate your needs and match a medical malpractice insurance policy to your requirements.


What may medical malpractice insurance cover?

Legal fees: If you are engaged in legal proceedings due to a claim arising regarding your professional medical conduct. Then your Medical Malpractice Insurance may include coverage for your associated legal fees up to certain pre-prescribed limits. 

Professional liability: Any professional liability that may be exposed to can be covered or reduced through appropriate medical malpractice insurance. 

Business interruption: When your medical practice or facility suffers a listed interruption. Then your medical malpractice insurance may provide coverage for any lost or reduce income as a result of the interruption. 


What events may trigger a medical malpractice insurance policy?


Medical Malpractice insurance may be triggered by events such as:

  • Breaches of professional duty
  • Administrative errors or omission
  • Fraud caused by employees
  • Unintentional breaches of privacy law or disclosure of patient records
  • Exposure aligned to Work, Health and Safety (WH&S) complaints and prosecutions


For more on how to consider what Medical Malpractice insurance is suitable for you. Please contact the team at Insurisk Insurance Brokers.


General Advice Warning: This advice is general and does not take into account your objectives, financial situation or needs. You should consider whether the advice is appropriate for you and your personal circumstances. Before you make any decision about whether to acquire a certain product, you should obtain and read the relevant product disclosure statement.

Anush Kumar, Insurisk Solutions Pty Ltd, ABN : 84 616 172 877, AFSL : 233750 , AR Number: 1251501, CAR Number: 1251503

Advisr does not provide advice and does not hold a financial service license (AFSL). All information above has been provided by Anush Kumar.

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Anush Kumar

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