MEDICAL MALPRACTICE INSURANCE
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MEDICAL MALPRACTICE INSURANCE
Malpractice insurance is professional liability insurance that doctors, dentists, nurses, and other medical professionals must carry that will pay a patient for wrongful or neglectful practices when the outcome causes bodily injury to the patient or death of the patient. This insurance is very expensive and in most states, it is a legal responsibility. However, in the state of Florida, that is not always the case.
Based on Florida Medical Malpractice Statutes, there are certain situations where a doctor can describe himself as a “part-time” doctor and he is not required to carry malpractice insurance. He does have to have a line of credit but the amount is substantially lower than a doctor must carry in a hospital. He also must put up a sign in his lobby. The sign does not have to be pointed out to the patient neither does he have to acknowledge that he saw or read the sign. It simply must be there somewhere.
This may not sound like a big issue at face value but consider this: if you are in an accident caused by a doctor driving an automobile that kills someone in your family and seriously injures you; you are going to be compensated for the death of your family member, for medical bills, lost wages and even for pain and suffering. Why? Because we have laws that state you must have insurance to protect people from accidents you have while operating a vehicle. Now consider that the same doctor can perform surgery on you and not have insurance to cover you if he makes a mistake.
Attorneys in Florida have a good record of suing doctors and medical professionals who choose to conduct business without malpractice insurance. Most attorneys take cases concerning uninsured doctors in Florida on a contingency basis. This means they do not get paid unless they collect. This also means they front all the expenses involved in legal action against the doctors. If an attorney agrees to a case for damages against a doctor in Florida, he feels he has an excellent chance of winning.
Suing a doctor is not just filing a case. The attorney could be out thousands of dollars before settling or going to trial. He must obtain medical records, copies of x-rays, MRI’s and scans. He must have professional medical professionals examine the patient and verify that the injury was caused by the neglect or unintentional act of the doctor. The time involved is a major expense as well. All these things must be done with-in two years of the injury according to state laws.
While there are good doctors in the state of Florida and most carry malpractice insurance, it is wise to know who you are dealing with before you choose a doctor for any procedure. If you are unsure, ask the doctor if he carries the insurance. It is simply good business to be covered and it is wise to know you have a doctor that feels that your health merits such coverage.
Coverage for Medical Professionals
It is estimated that there are 85,000 medical malpractice suits filed every year. You can see why patients or their families would initiate legal proceedings against clinics and doctors. As a professional, you know the risk that is involved. A claim made against you could be catastrophic for your business. In some cases, the financial cost could be career-ending. There’s also a lot of stress that comes with fighting a case. If you don’t have financial support, then that stress will only multiply.
If you want to protect your business as well as your own personal interests, you need to have medical malpractice insurance in Florida.
Moran Insurance is a leading commercial insurance broker. We specialize in all forms of business insurance, including medical malpractice insurance in Florida. We can help you to find the perfect policy that meets your needs and your financial situation. We can even provide packaged insurance options so that you get all your commercial coverage under a single policy. This can reduce the time it takes to compare and buy insurance, without compromising on any of your unique needs.
We are an insurance broker, so we act independently of the insurance companies. We work with a large network of insurers to find policies that work for you. With our service, you can save money on your yearly insurance costs, while getting access to policies that aren’t advertised through the standard public market. If you have compared ‘cookie-cutter’ policies and found them to be lacking in any area, then working with a broker will be a breath of fresh air.
Some things to think about before you purchase a policy include:
- Details on claim settlements. Some policies will allow an insurer to settle a claim without consulting you. This may or may not be the best option for you. In any case, you should have the final say. You can purchase insurance with a clause that prevents claims from being settled without your consent. This can help to protect your reputation and your future insurance costs.
- A policy should cover malpractice for you and all of your staff members. This is a detail that matters, as anybody working within your practice could be hit with a lawsuit. At the end of the day, if they are acting as your representative, then the claim would directly impact you. Talk to us to find out about group coverage to provide complete peace of mind.
- You can combine your insurance with errors and omissions insurance, workers compensation, property insurance, auto insurance, and any other policy type that is needed by your medical practice. We are Florida’s best commercial insurance broker.
Moran Insurance is the best and simplest way to get medical malpractice insurance coverage in Florida. Talk to us today to explore the best policies that are affordable and suited to your needs.