Question

Discuss the different types of malpractice insurance and the different types of additional coverage.

Answer 1

Malpractice insurance is a type of errors and omission coverage.It protects physicians and other health care professional against claims alleging their negligent acts caused injury to patients.

Different types of malpractice insurances are

Stock,

Mutual,

Reciprocal malpractice insurance,

Risk retension group insurance : It is an insurance company formed by a group of professional for the purpose of providing liability insurance to it's members.

Risk purchasing insurance : paying to risk group person from insurance company formed by professionals.

Additional coverage medical malpractice insurances: These are two types

Claims made insurance: It covers the insured for an incident that occurred during policy period and was reported as a claim while the policy remained in force.The renewed claims made policy covers claims that come in during the policy year for incidents that occurred on or after the retro active date.

Occurrence malpractice insurance coverage:This endorsement allowes an insured to continue to report claims after policy is cancelled.