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Categories of Medical Malpractices Insurance A type of insurance that protects the physicians and licensed health care professionals from problems associated with wrongful practices resulting from bodily injury, medical expenses and property damage as well as lawsuits that are related to such claims. Below are some of the types of medical malpractice insurance and want they entail. We have claims made coverage as a type of medical malpractice insurance. Claims that was said when the policy was still working are being covered under a medical malpractice insurance known as claims made coverage. Claims that are reported after the insurance policy has expired such cases will not be dealt with. Cancelling the policy and switching to other carriers will mean that your future claims will not be covered even if you reported the claim when your request made coverage was still active. For proper record keeping ensure that the claim you made is in writing and the witnesses are included. Apart from written you can as well announce the claims verbally in front of the legal team or the board that manages it. As this will make sure that your application is official and it will not backfire.
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We also have event coverage as another form of medical malpractice insurance. A type of medical malpractice insurance that allows the claim to be filed anytime maybe when the system is still active or after the policy has expired is known as occurrence coverage. It does not matter whether the policy was cancelled or had expired by the time the claim was filed you will still benefit. The Some physicians going for this policy are many since it offers the permanent solution to their problems. Occurrence coverage provides a stable form of protection since it does not really on previous claims or actions. Because of his broad coverage and its permanent solutions it is more expensive compared to other procedures.
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Another type of medical malpractice insurance is tail coverage and prior acts. Tail coverage supplements the application made the blanket cover. It includes any claims that may be made when your request made policy is canceled or non-renewed. Apart from that it also includes any claims that may be made in future, but the incidents occurred when your system was still active. This is like a reassurance to the doctor that he will be still under protection even if the standard term of the policy has passed. The a policy that is purchased from the insurance company that provided you with the expired claim coverage plan is called tail coverage and the policy that is purchased from a different company to the one that offered claim made coverage policy is referred to as prior acts. The two systems means the same thing.