What Is Medical Indemnity Insurance?

For any surgeons working in a busy hospital, medical indemnity insurance can be one of the greatest investments. This kind of policy has been something that professionals have been relying on for years now but there are still some people who have never heard of medical indemnity insurance or don’t understand the benefits.

To clear things up, we thought we would cover what medical indemnity insurance is and discuss some of the benefits. Read on to hear more about this.

What Is Medical Indemnity Insurance?

If you are completely unfamiliar with the concept of medical indemnity insurance, then you should know that this kind of policy is there to protect a surgeon if somewhere were to go wrong. This can include things like claims for physical or mental harm when they are treating a patient. In simple terms, you will find that medical indemnity insurance will cover claims of medical malpractice and it can cover a range of other things.

What does it cover?

When you find out more about medical indemnity insurance, you start to realise just how many different cases it can cover. Some of the things that this kind of policy will cover include medical malpractice, professional indemnity and liability for any slander.

As a surgeon, your reputation is also very important and so many medical indemnity policies can help you to protect this and ensure you keep your job. Of course, each policy will be tailored to your circumstances and some cover more than others.

Why Do You Need It?

There are tons of reasons why a surgeon requires medical indemnity insurance including the fact that they are dealing with another person’s life. Many patients who go into surgery are very ill and could potentially die on the operating table. This can create a very high-pressure environment and while surgeons are trained to deal with this, mistakes do happen. In this case, medical indemnity insurance would typically cover any claims.

Additionally, medical indemnity insurance can also give surgeons peace of mind when they are doing their job. If they needed to worry about potential claims and losing their job each time they went into surgery, they might not be willing to take risks that could save someone’s life.

There Are Exceptions

Like any kind of insurance policy, medical indemnity insurance does typically come with some clauses and exclusions. It is vitally important that surgeons who take out this kind of policy read all of the terms and conditions so that they know exactly what they are agreeing to. The last thing you want is to think you are covered to do a certain kind of procedure, only to find out that your policy excludes this.

Reading the terms and conditions on any contract is important but when you find out more about medical indemnity insurance, you will realise just how many exceptions there can be.

Find the Right Insurer

Now that you know a bit more about medical indemnity insurance and some of the benefits that it provides, you should consider investing in one of these policies, if you need it. Many surgeons will be required by their place of work to have a policy like this in place but not all policies are as good as each other.

Take a look at some of the options and find an insurance provider who will go above and beyond to ensure you are covered to do your job. Don’t fall for clauses in the terms and try to find something that is affordable. This way, you’ll be able to put your patients first without risking your career.