What is an Aggregate Limit of Liability?

Professional liability insurance protects your business by reducing its financial burden in the event someone sues your company. But there are limits to how much an insurer will pay out on your behalf for a single claim or series of claims. A single-occurrence limit refers …

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What You Need to Know About Medical Malpractice Payouts

The concept of medical malpractice applies to the conduct of any professional who provides a health care service. Not surprisingly, most states require medical professionals to carry malpractice insurance. According to industry estimates, a majority of physicians will face at least one malpractice claim in …

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Medical Malpractice Liability Limits

A medical malpractice liability limit is the total amount of money that an insurer will pay to cover claims on behalf of the insured in any given year of the insurance policy. When choosing a policy, it’s important to consider coverage limits so that you …

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Can Nurses Be Sued for Medical Malpractice?

Like physicians, nurses are held to certain standards of medical care and professional practice. Standards of care are derived from professional literature, protocol, and expert opinions. Standards of practice are based on facility policies and procedures, job descriptions, professional standards, and the scope of nursing …

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What Are Medical Malpractice Exclusions?

Medical malpractice insurance protects physicians and other licensed health professionals from claims that they were negligent when providing diagnosis or treatment. Medical malpractice policies do not cover all types of mistakes or acts of wrongful practice, however. An insurance carrier will put in place policy …

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What is Third-Party Liability Insurance?

Third-party liability insurance is any type of insurance that protects you if you’re held legally responsible for someone’s physical injury or damage to someone’s property. Also known as legal liability insurance, third-party coverage is purchased by an insured (first party) from an insurer (second party) …

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Requirements for a Medical Malpractice Claim

Medical malpractice is a legal cause of action that occurs when a medical or healthcare professional fails to provide proper treatment, thereby causing harm to a patient. In general, the courts understand that medical care has no guarantees and unexpected or unsuccessful results do not …

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Common Myths About Medical Malpractice Insurance

As a medical professional, you’ve heard time and again that medical malpractice insurance just makes good financial sense. But, while shopping around for coverage, you’ve probably encountered a few statements that caused you to question that idea. That’s not surprising. Malpractice insurance can be complex, …

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What Is Tail Malpractice Insurance?

To understand what tail malpractice insurance is, it helps to first know that there are two main types of malpractice coverages: claims-made and occurrence.  A claims-made policy covers events that occur during the policy period and are reported while it’s still in effect. In contrast, …

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What Is Errors and Omissions Insurance?

Errors and omissions insurance, also called E&O insurance, is a type of professional liability coverage that protects your company in the event that a client sues over a professional mistake or oversight. Generally, any business that provides a service or offers advice needs E&O insurance. …

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