The Different Types of Medical Malpractices Insurance

Medical malpractice insurance is a type of insurance that protects the physicians and other licensed heath officers from problems associated with wrongful practices resulting from bodily injury, medical expenses and property damage as well as lawsuits related to such claims. There are different types of medical malpractice insurance.

The first category is claims made coverage. Claims that was said when the policy was still working are being covered under a medical malpractice insurance known as claims made coverage. When the events are not presented when the system is still active the claims will not be covered. If you cancel the claim and switch to other forms of insurance coverage, the policy will not cover your future claims even if the incident occurred during the time the system 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. This type of coverage allows for the claimed to filed at any given time may be after the policy as expired or when the system is still active provided that the incident happened when the policy was still active. It does not matter whether the policy was cancelled or had expired by the time the claim was filed you will still benefit. This type of malpractice attracts many citizens because of its lasting solution to the wrongful deeds. It is also a stable and sound form of protection since it does not rely on prior claims or acts. This type of medical malpractice insurance is more expensive compared to another form since it offers permanent solutions.
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We also have tail coverage and prior acts. This kind of policy serves as the back up to claims made coverage. Claims that are made when your request made coverage has expired and has not been renewed is cared for by the prior acts coverage. It may also cover any claims that come up in future, but they happened while your policy 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 the difference between tail coverage and prior acts is that tail coverage is purchased in the same insurance company that offered you with the expired policy while prior acts are purchased from a different insurance firm to that one that offered the expired policy. Prior cats coverage and tail coverage has the same purpose the difference is the insurance firm.

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