U.S. Medical malpractice insurance
Around 19,000 lawsuits are brought against physicians in the U.S. every year. In the United States, a practicing physician is required to have medical malpractice insurance. Physician malpractice insurance can be costly. Nurse practitioner malpractice insurance is also available at an affordable cost.
Types of Policies
Medical malpractice insurance companies offer two types of liability insurance. They are claims made and occurrence. Most doctors and nurses today have claims made policies. Male practice insurance for nurses is different than for doctors. You can learn more about nursingmalpractice insurance cost by using our online tools.
Claims Made Policies
This type of policy only covers incidents that happen when you are covered under the health care provider. This means that the injury and claim must be made while that policy is good. In the event that the claims made policy is dropped, you will not be covered any longer unless you pay for tail coverage.
Occurrence Policies protect you against incidents that happen during the period in which the policy is in effect. For example, if you had a policy in 2008 and the malpractice lawsuit was not filed until 2013 for the incident that took place during 2008, the policy would protect you, even if you no longer have a policy with the carrier.
Over the beginning years of the plan, a claims-made policy is cheaper, since the possibility of claims increases the longer you hold the policy. The first year of the policy may only cost 10 to 20% of the mature rate.