A type of insurance that protects the physicians and licensed health care professionals from problems associated with wrongful practices resulting from bodily injury, medical expenses and property damage as well as lawsuits that are related to such claims. Below are some of the types of medical malpractice insurance and want they entail.
Claims made coverage is the first type of medical malpractice insurance. 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. This is done for security-avoiding unexpected.
We also have event coverage as another form of medical malpractice insurance. Occurrence coverage malpractice allows for the claim to be filled anytime may be after the policy as expired or when the system is still active provided that the incident occurred when the policy was in place. It does not matter whether the policy was cancelled or had expired by the time the claim was filed you will still benefit. The Some physicians going for this policy are many since it offers the permanent solution to their problems. Occurrence coverage provides a stable form of protection since it does not really on previous claims or actions. Because of his broad coverage and its permanent solutions it is more expensive compared to other procedures.
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Tail coverage and prior acts is also a type of medical malpractice insurance. When claims coverage policy expires then you can use tail coverage. Any claims that may be made when your application made coverage has expired and has not been renewed are covered by tail coverage. Apart from that it also includes any claims that may be made in future, but the incidents occurred when your system 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 a policy that is purchased from the insurance company that provided you with the expired claim coverage plan is called tail coverage and the policy that is purchased from a different company to the one that offered claim made coverage policy is referred to as prior acts. Prior acts and tail coverage serves the same purpose.