Know about the Finance and Investments Terms

The healthcare industry is experiencing several amendments to regulate the concepts of insurance policies. Non-banking financial corporations have introduced several innovative products with custom-made features and benefits. 

Medical practitioners can now avail policies like an indemnity insurance plan for doctors to safeguard themselves against various professional risks. 

Incidents like misdiagnosis, incorrect consultation, negligence, surgery-related errors, etc. can lead to huge expenses. A customised insurance policy financially protects a medical professional against such incidents effectively. 

While various products are available, there are 3 significant policies currently trending in the market. Firstly, a malpractice insurance plan offers coverage against a patient’s claim of omission during treatment, medical negligence, intentional errors, etc. 

Secondly, professional indemnity insurance policies cover risks such as inappropriate treatment, incorrect medication, surgery-related process, negligent misdiagnosis and others. Thirdly, a professional liability insurance plan provides coverage against losses incurred due to errors and omissions. 

Eligible professionals can avail coverage of high value up to Rs.1 crore against nominal premiums. 

Leading financial service providers provide additional benefits, including minimum documentation, speedy claim redressal, comprehensive coverage and excellent customer support.

Additionally, medical experts can avail customised loans for doctors to address their monetary needs or keep the practice running. Healthcare professionals should, therefore, be aware of the trending malpractice insurance policies and secure themselves for unexpected financial liabilities.