Which healthcare jobs require professional liability?

When you are a healthcare professional, you must know the legal risks you are exposed to. Any accident in this field can result in injuries, damages, or fatal consequences. Repercussions can mean the loss of your business if you do not rely on a professional liability insurance policy.

In this article, you will learn everything you need to know about liability insurance within the healthcare field. You will find out if you need professional malpractice insurance, what it covers, why it is necessary, benefits, and the risks of not having legal protection from lawsuits against you or your company.

  1. What is professional liability?
  2. What does liability insurance cover?
  3. Pros of having professional liability insurance
  4. Who needs a malpractice insurance policy within the medical field?
  5. Why should healthcare professionals get liability insurance?
  6. Risks of not being insured when you are a medical worker
  7. What are the limits of malpractice insurance in the UAE?
  8. Things to consider when choosing your insurance plan
  9. How can this agency help you obtain your professional liability insurance?

1. What is professional liability?

Professional liability is a type of insurance that grants protection and coverage from third-party suits. It protects their business from its elevated costs, as well as their reputation. Medical liability insurance offers coverage for the medical bills of the injured party, as well as attorney’s fees, compensatory damages, and other related expenses.

This way, the particular type of professional liability insurance, also called malpractice insurance, promises to help cover your company’s needs in order to continue offering its services to the public, while dealing with legal action. During the course of their career, a great number of doctors deal with, at minimum, one malpractice suit.

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As a consequence, many countries require this policy in order to protect healthcare workers from injury, poor advice, misdiagnosis, negligence, malpractice, or property damage claims. In the UAE, malpractice insurance is a legal obligation for all medical laborers.

1.2 Types of professional liability

It is vital to comprehend that there are two main types of malpractice insurance. On one side, we have “claims-made”. This policy only guarantees protection if the policy is in full effect when the accident occurred, and when the counterpart filed the suit.

For this reason, because it may have gone a long-time frame between the incident and when the victim made the claim, in order to provide proper coverage, insurance protection must extend for a prolonged period.

Therefore, several claims-made policies are made to proportionate a period of protection. Also called “tails”, these policies extend protection for a determined amount of time after a policy is terminated. In case that this is not proportioned by the original policy, tail protection can, as well, be bought separately.

On the other hand, occurrence policies cover any claim for an accident or event that happened during the period of protection, even if the injured party presents it after the policy lapse. Generally speaking, tail coverage is not essential in this type of policy. However, this type of insurance tends to be more costly and a great number of employers do not usually provide it.

2. What does liability insurance cover?

Regardless of how professional, careful, and experienced you are, human beings are likely to make mistakes. A good defense can cost you up to tens of thousands of dollars. If you end up being brought into a lawsuit because of a malpractice-related accident, such as negligence, body injury, or in the worst of cases, the death of a patient, insurance will be there to protect you.

Despite this, it is important to note that accidents such as slips and falls are not in the policy’s conditions. For this reason, you must analyze all the details specified in the terms of your policy, in order to truly understand what you are protecting with it.

In a general way, the professional liability insurance policy must provide coverage for the medical bills of the injured party, settlements, your attorney’s defense and court’s fees, court-ordered judgments, compensatory damages, and funeral expenses, if it happens to be the case. It is important to fully understand the coverage offered by your insurance provider.

However, medical malpractice insurance does not include coverage for sexual misconduct lawsuits, criminal matters, or illegal modification of medical records.

3. Pros of having professional liability insurance

Financial protection is essential when you are running a business. You cannot always prevent accidents from happening, and consequently, having a patient fill a suit against you.

This is why most medical workers choose insurance as a way to protect themselves, as they work in a field that has so much exposure to ill and vulnerable people.

As a matter of a fact, the main thing to consider when it comes to mitigating financial risk is proper insurance. If a patient files a lawsuit against you or your company, you will have the peace of knowing your insurance provider will take care of the expenses associated with it.

Although there are still medical laborers who, when not obligated, decide to not pay premiums, it is never worth it to face the risk they are exposing themselves to. When you are protected by a professional liability insurance policy, you do not have to worry about having to close your business, as you are covered from the huge financial losses that a suit carries with.

As a result, not only you will not have to close in order to pay for the expensive bills. You will be able to continue providing your services without interruption and still get to sleep at night. While paying for insurance can feel like an extra expense, the catastrophe a lawsuit can bring is never worth the risk.

4. Who needs a malpractice insurance policy within the medical field?

When an accident occurs, liability insurance helps protect licensed professionals from the elevated costs of lawsuits. No matter how careful you are, there are several risks that you will face every time someone, such as a patient or the delivery man, steps into your office. Professional liability usually covers major mistakes, such as supplying an accidental overdose.

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Nonetheless, a patient could sue their doctor for the smallest of errors. As a result, it is hard for specialists to anticipate when they may face a lawsuit. Having an insurance policy that protects you or your business, provides the peace of knowing that you are safe, even from an unforeseen lawsuit.

If an individual takes legal action against you or your clinic, you could end up covering the high costs of legal defense. Not to mention medical expenses for the injured party. This is why all healthcare laborers, and even students within the field, must consider professional liability insurance. Some of them include:

  • Nurses.
  • Pharmacists.
  • Dentists.
  • Physical or occupational therapists.
  • Physician assistants.
  • Mental health counselors.
  • Nutritionists.
  • Mental health professionals.
  • Optometrists and opticians.
  • Social workers.
  • Students.

5. Why should healthcare professionals get liability insurance?

The medical professional liability insurance is there to repay the injured party, the costs related to the accident the healthcare worker may be responsible for. In other words, the purpose of this policy is to secure the interests of individuals or companies from third-party liabilities.

Healthcare professionals are frequent targets of lawsuits because of malpractice. In order to minimize financial risks associated with it, they must be protected against them. In addition to the insurance granted by their hospital or practice, most physicians need to carry some type of professional liability insurance.

When working in this field, doctors and other health professionals will face exposure to claims of negligence and malpractice. This action can lead to very expensive suits. If not protected by insurance, can result in major losses for their business.

Healthcare is a very complex territory, with so many potential risks. Relying on a liability insurance policy is vital for all practitioners. In the case of employees of a medical facility, it is up to them to protect themselves. Despite this, they can never assure that their supervisor’s insurance will not have legal gaps.

5.5. Risks of not being insured when you are a medical worker

Something that most physicians are concerned about, is the risk of a malpractice lawsuit and the potential devastation it carries with it. Medical workers may be legally held responsible for the smallest error they make, especially as they are working with people with poor health, and if anything happens, they will be the ones to blame.

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For example, if a doctor without insurance makes a mistake, gets sued, and eventually loses the case, the court can demand him to pay thousands, hundreds, or even millions of dollars. The doctor has everything to lose, including his business, among other legal consequences he is exposed to.

If a medical laborer does not rely on an insurance policy, the consequences can be unmeasurable. This policy protects healthcare professionals from the financial catastrophe caused by a suit. For this reason, you must find legal protection. This will allow you to continue running your business even if an unfortunate event takes place.

6. What are the limits of malpractice insurance in the UAE?

Limit of Indemnity means the monetary margin up to which the insurance provider will cover claims, which include legal expenses per event or in multiple events through a policy year. The limit of liability for an insurance policy is normally fixed for a single claim (one occurrence).

According to the individual’s request, the providers can offer limits that range from AED 250,000 to AED 5,000,000.  Higher margins may also be provided. Larger companies, like large clinics and hospitals where several healthcare workers are employed, are the ones that often need them. These can be up to AED 100,000,000.

7. Things to consider when choosing your insurance plan

When you are selecting your insurance provider, there are certain aspects you should consider before making decisions. In fact, choosing the wrong plan could leave a lawsuit filed against you out of the policy’s terms, and you will have ended up paying for something you are not sure you can count on.

Things like the provider’s reputation, their financial strength, the coverage they offer, their pricing, and even legal gaps that the conditions may have, are the main aspects that you should research well, prior to any agreements.

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Legal language is often complex and difficult to understand. It is always good to see a consultant who will help you find the right insurance policy. With the help of an expert, you must analyze thoroughly anything that involves the safety of your assets.

8. How can this agency help you obtain professional liability insurance?

Medical laborers must be protected from the legal consequences of malpractice. In the UAE, it is a strict requirement for employers to provide proper insurance to their workers. If you are a medical professional, we can connect you with the best healthcare companies that will keep you protected.

In order to make sure that there will be no issues with the law, it is crucial to determine what company will better suit your needs. Despite this, ensuring your personal protection with a malpractice insurance policy of your own is never a bad move. It is always up to you to decide.

It is critical to understand the fine points of your medical malpractice coverage, as well as knowing the amount your policy offers for each incident, and any claims filed against you. When you are planning to work for a company, you must consider the legal safety that they are obtaining. Through our services, we put you in contact with companies that care for their employees.

Would you like to contact Connect Health to obtain more information about healthcare jobs that require professional liability? If you have any questions, call us on +971433166. You can email us at info@connecthealth.ae, and you will talk to one of our representatives who will answer your questions.

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