Professional Liability Insurance

For medical professionals

What is Professional Liability Insurance?

This type of insurance is also known as errors and omissions insurance (E&O) and malpractice insurance. It basically covers any negligence or mistakes made by the medical professional during their practice. It differs from General Liability insurance which covers the business, while professional liability covers against the mistakes or omissions made by the individual professionals who work in that business. 

What does professional liability cover?

Professional liability cover professionals against claims involving injury or death which was the direct result of mistakes or negligence by a medical professional while performing their job duties. Professional liability also covers the claimant’s legal costs, but does not cover the cost of defending against the claim, or managing the claim. To help clients overcome those charges, which can add up, Westwood created a Legal Defense Insurance package, incorporating professional liability insurance, with legal defense and a third-party administrator to administer claims against you.

While, this is currently only offered for Skilled Nursing and Assisted Living Facilities in Florida, the program may be expanded in the future, depending on the availability of suitable carriers.

 

Our Professional Liability coverage gives you superior claims handling, effective risk management resources, by “A” rated carriers, with a history of financial strength.

The Benefits

  • A selection of “A” rated carriers
  • Access to a single-source solution covering a spectrum of liability risks.
  • Traditional approaches, including first-dollar coverage, deductible options, and excess & surplus lines coverage
  • Alternative risk programs, including a turnkey captive solution, complex risk valuation solutions, and loss portfolio transfers.
  • Risk financing programs for potential rewards, including  retrospective rating programs
  • Risk Purchasing Group programs available.
  • Timely risk reduction strategies for emerging trends like telemedicine.
  • Fair treatment in the ever-changing healthcare environment.
Professional Liability Insurance

Every medical professional should have professional liability insurance coverage in today’s climate of uncertainty.

Who needs professional liability insurance?

Any professional working in medicine should have professional liability coverage in today’s climate of uncertainty, particularly with juries increasingly handing out generous awards to injured parties. The potential for lawsuits and financial damages is much higher in the medical field than other industries.

This is true for general medical professionals like  physicians and  physicians assistants. Executives like medical directors should also be covered as their decisions impact on a large number of people and affect the actions of medical professionals in their team.

Specialists like  phlebotomists, respiratory therapists, surgical technicians, optometrists, pharmacists, and imaging technicians should have professional liability cover, as they can be sued for actions taken in the course of their duties.

Professionals working in the field of psychological and mental health, including psychologists, psychotherapists and mental health technicians should also have professional liability cover, as should those working in alternative medicine, including massage therapists.

Does malpractice insurance cover telemedicine?

Traditional malpractice insurance often does not explicitly cover telemedicine or telehealth services. In many cases, these services are actually excluded in the policy’s fine print. As healthcare increasingly adopts digital technologies, it’s crucial for healthcare providers to ensure that their professional liability coverage extends to their telemedicine activities. Specialized Telemedicine Malpractice Insurance policies are available to fill this coverage gap, offering protections tailored to the unique risks associated with providing healthcare services remotely. If you’re considering adding telemedicine to your practice, it’s essential to consult with your insurance broker to review your current policy and explore additional coverage options specific to telemedicine.

How do I get general liability cover?

Click the contact button below and contact Westwood. We’ll pass your information to one of our agents in your area. Our agent will be able to advise you of the best amount of professional liability coverage and help you put together an application that will prevent you overpaying premiums. 

We look forward to working with you. 

Contact Michael Richards now

Michael Richards, President, Westwood Insurance Group

Michael specializes in insurance for this particular group. You can call him on the number below or fill out the form and he will get your message directly:

insurance for hospitals

Hospital Insurance typically covers all or part of the potential liability for hospital services. It includes medical malpractice, accidents involving hospital employees and equipment, care during surgery or any other invasive treatment, after-hours care arrangements by staff who need help with their children and more.

insurance for long term care facilities

Long term care facilities must protect themselves against potential liability arising from incidents within their facility. Westwood can help you negotiate a package tailored to your long term care facility client.

traditional insurance products

Westwood have fostered exceptional relationships with underwriters and we go to great lengths to keep abreast of their latest products, changes in requirements and restrictions, including having weekly calls with the carriers, which you can see here, by joining our insurance insider group.

    Insurance products at Westwood Insurance Group

    You can find more information on the Insurance Products main page.

    If you have any questions on the different policies, check out our Insurance FAQ’s

    alternative structures

    Westwood President, Michael Richards has extensive experience in setting up alternative structures for larger clients. Here are some examples:

     

    If you think your client could be large and stable enough to benefit from starting or participating in a captive or has a special need for another alternative structure, contact Michael Richards now by phone: 855 351 7487.