There has been a 110% rise in cases of medical negligence against doctors according to a study conducted by an eminent advocate, Mahendra Kumar Bajpai. Therefore, a professional indemnity insurance scheme has become a necessity for them.

‘Indemnity’ is when one party makes compensatory payments to another for losses the latter suffered. In legal terms, an indemnity insurance scheme can thereby be described as when a third party offers compensation for the losses suffered by a professional in legal proceedings. These legal proceedings, however, have to be related to cases against the individuals in the course of their profession.

What does indemnity insurance for doctors cover?

The following is all you want to know about indemnity insurance for doctors, and what it covers – 

  • Professional negligence: In the busy lives of doctors, it can often happen that they mistakenly neglect a tiny aspect of their duties. If such negligence affects a patient in any way, they might file suit against that doctor. Therefore, most professional indemnity insurance provide insurance if the case goes to the court or incurs any expense form the doctor’s end. 
  • Loss of documents: A doctor might misplace an important document for which a patient’s health-related position might be jeopardised. The patient might level allegations against the doctor or take the matter to court. 
  • Lack of proper treatment: One of the most cases filed against doctors is that they did not provide proper treatment. It might happen due to inadequate medicine or improper diagnosis. If that is the case, even though the doctor will be compensated for his losses by the insurance policy, there will be similar allegations in the future. Hence, medical professionals can avail a loan for a doctor to buy the latest technology for proper diagnosis and offer better services.
  • Slander or libel: Patients often try to sully the image of a doctor by spreading slanders or libels against them. A doctor can take legal actions against the people in question. Any fee to pursue those actions thereby is covered by indemnity insurance scheme. 
  • Breach of confidentiality: An insurance scheme for indemnity covers the losses for legal proceedings when a patient charges a doctor for breach of confidentiality. 
  • Employee fraudulence: A doctor can take legal actions against an employee if he/she exercises any fraud or dishonesty, which affects the former. An insurance scheme covers the fees regarding such legal pursuits.

Every doctor should care about professional indemnity insurance, whether they are big or small in stature as those things can happen to anyone. 

What does professional indemnity insurance exclude?

  • Illegality: In case a doctor involved in any illegal activity, it will not be covered by indemnity insurance policy. 
  • Intentional harm: If the doctor intentionally causes damage to a patient, legal fees for such charges will not be covered by a professional indemnity insurance scheme. 
  • Employment disputes: When a doctor and his employees engage in disputes, and it is taken to the course or pursued legally, any fee against the same is not covered by this policy. 

Apart from these, everything else that occurs in the course of a profession is covered by the indemnity insurance policy. Therefore, a doctor runs great risks if they don’t have a professional indemnity secured. 

What should a medical professional do to avoid legal charges?

It is not convenient for doctors to take time out from their schedules to attend legal proceedings. It not only affects them but also the patients who rely on the doctor for their health. Along with these factors, a doctor’s image also suffers as they continue fighting cases.

As most cases happen due to technological shortcomings, doctors should consider incorporating state-of-the-art equipment at their disposal such as nanotechnology in India.  

However, these technologies come with a substantial cost, which is why they should consider availing loans. NBFCs like Bajaj Finserv provide pre-approved offers on loans which make the process of availing these much faster and quicker. These offers come with home loans, personal loans, business loans, and several other financial products. You can know about your pre-approved offer by entering your name and mobile number. Similar to nanotechnology, doctors can also opt for mHealth if they don’t have ample time out of their schedules to deliver treatment.

However, even after all these precautions there might be chances where legal allegations are levelled against a professional. Which is why, every professional should have a professional indemnity insurance policy against their name.