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Professional liability insurance for healthcare professionals

Professional liability insurance icon
Professional liability insurance

This policy, also known as errors and omissions insurance, protects businesses against client lawsuits claiming that work was unsatisfactory, negligent, late, or never completed.

Professional liability insurance guards against medical errors

Healthcare professionals are all too aware how a single mistake or oversight in treatment could lead to injury, illness, or even death. If a patient or relative sues, your small practice could face a financially devastating lawsuit.

Professional liability insurance for healthcare professionals, also called malpractice insurance, can offer the protection your business needs to continue providing its services while handling a lawsuit.

This policy provides liability coverage related to:

  • Incorrect diagnosis or poor advice
  • Accusations of negligence
  • Mistakes or oversights

What coverage can professional liability insurance provide for healthcare professionals?

Incorrect diagnosis or poor advice

A doctor who gives a misdiagnosis or a physical therapist who offers faulty advice could end up worsening a patient’s condition. If that patient sues and you don’t have proper coverage, you could end up paying for a legal defense with your own assets. Professional liability insurance can cover expenses related to the lawsuit, including judgments and settlements.

Accusations of negligence

Nurses, home healthcare providers, and other healthcare professionals are highly susceptible to claims of negligence. For example, a patient could claim that a nurse’s neglect caused bed sores. If the patient files a lawsuit, professional liability insurance can cover legal expenses, such as the cost of hiring an attorney.

Mistakes or oversights

Even if a claim is frivolous, an alleged error could still result in a costly malpractice lawsuit. If poor imaging leads to a misdiagnosis, for example, a radiology lab could be held responsible. Professional liability insurance can help pay for your legal costs, including attorney’s fees and court-ordered judgments.

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Other important policies for healthcare professionals

While professional liability insurance guards against work errors and negligence, it does not provide complete protection. Accidental injury and property damage are daily risks for any healthcare business. Other policies to consider include:

General liability insurance: This policy can pay legal expenses related to patient property damage and injuries, along with advertising injuries such as slander. 

Business owner’s policy: This policy bundles general liability insurance with commercial property insurance, often at a lower rate than if the policies were purchased separately.

Workers’ compensation insurance: Required in almost every state for healthcare businesses that have employees, workers’ comp can cover medical expenses for work injuries.

Cyber liability insurance: This policy helps healthcare professionals survive data breaches and cyberattacks by paying for recovery expenses and other associated costs.

Get free quotes and compare policies with Insureon

Are you ready to safeguard your medical office, acupuncture clinic, dentist office, or other healthcare business with business insurance? Complete Insureon’s easy online application today. Once you find the right policy, you can begin coverage in less than 24 hours.

Note: Insureon does not offer quotes for professional liability insurance (malpractice) for medical professionals, but we do offer quotes for other types of commercial insurance.

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