MEDICAL MALPRACTICE INSURANCE IN VERMONT

What is Medical Malpractice Insurance?

Rendering medical is an honorable and much-needed service, but it’s also an act that comes with significant responsibility. In addition to the moral responsibility that medical providers feel, they also have a legal obligation to render proper care. Should a provider make an error, they might be held financially responsible for any negative effects of the mistake. Medical malpractice insurance won’t stop something tragic from happening, but it can help shield providers from financial consequences if they make an error.

Medical malpractice insurance policies are specialized professional liability policies that are intended for medical providers. Because the insurance is so specialized, medical providers ought to consult with an agent who’s specifically familiar with these policies when comparing coverage options.

How Much Medical Malpractice Protection Should Providers Carry?

Because medical malpractice lawsuits can be expensive to both defend and settle, it’s generally wise to select a medical malpractice policy that has high limits. Exactly how high those limits should be depends on the particulars of a person’s situation and level of care rendered. A policy that provides professional liability insurance for doctors who perform surgery will likely need higher limits than one that covers an EMT.

Providers should work with a knowledgeable insurance agent when determining what limits their coverage should come with. An agent who knows medical malpractice policies will be familiar with various potential claims, and they can illustrate how costly various potential scenarios could be.

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What Medical Providers in Vermont Need Medical Malpractice Protection?

In general, most medical providers who render care in Vermont should have medical malpractice coverage that protects them. Providers in many positions are required to carry coverage, and these providers frequently purchase more coverage than is legally required so that they’re better protected.

Importantly, this coverage isn’t necessarily just for doctors. Although medical malpractice may be most well-known as professional liability insurance for doctors, providers at any level might need or want coverage. There are policies available for:

  • Primary care physicians
  • Specialists and surgeons
  • Physician assistants and nurse practitioners
  • RN, LPN and other nurses
  • EMTs and paramedics

Because the vast majority of providers need coverage, medical malpractice policies are often purchased by organizations. For example, there are also policies tailored for:

  • Doctor offices
  • Outpatient clinics
  • Hospitals
  • Healthcare groups
  • HMOs
  • Weight loss centers
  • Skincare centers
  • Medical spas

What Medical Malpractice Protection Do Employers Carry for Providers?

While many employers in the medical field have malpractice policies that extend coverage to their employees, not all providers receive the same amount of protection. Providers should check with their employer to find out how well employees are protected, and then providers can work with an insurance agent to purchase their own policy if they want more protection.

Additionally, providers should be aware of what claims an employer’s policy may or may not cover. Provider-sponsored policies commonly only cover care that’s rendered within the scope of employment, and they typically won’t extend protection to side work or charitable endeavors. Any additional paid-for or pro-bono care that’s rendered generally should be covered by another malpractice policy, which may be offered by another organization or purchased by an individual.

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How Much Are Premiums for Medical Malpractice Policies?

Premiums for medical malpractice policies are substantial, especially when purchasing professional liability insurance for doctors. The policies may provide a lot of protection, however, and premiums are normally affordable for a medical provider or practice.

For an accurate idea of how much a policy would cost, providers and practices can talk with an independent insurance agent. Independent agents are able to compare policies from several insurers in Vermont, thus showing what different policies would cost in a given situation.

How Can Providers in Vermont Get Medical Malpractice Insurance?

For help finding medical malpractice insurance in Vermont, contact Paige & Campbell Insurance. Our independent agents have worked with many providers in the state, and we’ll help make sure you’re well covered.

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