3 Important things you must check before buying a Professional Indemnity Insurance

3 Important things you must check before buying a Professional Indemnity Insurance

I get asked this by my colleagues and doctor friends all the time:

“Which indemnity insurance should I take?”

And I say the same thing —

Don’t choose based on the company. Choose based on the clauses.

These are the 3 checks every doctor MUST do before taking a malpractice insurance policy:

1️⃣ Choose a Sum Insured That Matches Today’s Reality

Many doctors still pick low coverage just to keep the premium small.

But medicolegal risk in India isn’t what it used to be. If your sum insured is too small, it’s not going to serve the purpose of taking the insurance in the first place.

For clinical branches, it’s recommendable to have a cover of 1 Cr +

2️⃣ Make Sure the Policy Covers Legal Fees — This One Is Crucial

This is the line most doctors don’t look for… and regret later.

Because even if you win a case, you still have to pay your lawyer. And if you aren’t aware, let me tell you, the legal fees can be a considerable figure in itself. If this isn’t covered, the financial burden falls entirely on you.

3️⃣ Check Whether Mediation & Out-of-Court Settlements Are Covered

Many disputes might not reach the courtroom. They maybe resolved through Mediation or negotiated settlements. If your policy does not cover this, it decreases your options.

These three points can be the difference between being insured and being truly protected.

Have you checked these for your professional indemnity policy? If you haven’t, it’s still not too late.

If this feels important, share it with a colleague — someone might really need to read this.

#Doctors #professionalindemnity #malpracticeinsurance #healthcare