Medical malpractice insurance covers doctors and other professionals in the medical field for liability claims arising from their treatment of patients.
Liability arising out of rendering or failing to render services of a professional nature - is excluded under Comprehensive General Liability policies. Special Professional Liability policies have been developed for many professionals, such as physicians, surgeons, dentists, lawyers, insurance agents, architects, accountants, and directors and officers of corporations. Each policy is tailored to fit a specific occupational need.
Professionals have two kinds of legal duties to their clients. These are to perform the services for which they were hired and to perform them in accordance with the appropriate standards of conduct.
Professional Liability policies can go by several different names. Malpractice insurance is the term commonly applied to Medical Liability policies written for medical professionals or institutions. This includes physicians, nurses, dentists, opticians, optometrists, chiropractors, and veterinarians. Errors And Omissions (E&O) insurance is a broad term that refers to Professional Liability policies written for other professionals, such as accountants, architects, attorneys, insurance agents, stockbrokers, and engineers.
If an insured wants full coverage against liability exposures arising from business, it is advisable for the insured to maintain both a Commercial General Liability policy and the appropriate Professional Liability policy.
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