Importance of Malpractice Insurance For Newly-Licensed Doctors

Newly-licensed doctors face a high risk of liability upon entering their profession. At the beginning of a doctor’s career, an oath is taken to serve all patients responsibly. This means promoting good health, caring for the ill, and alleviating pain and suffering to the best of their abilities.

However, doctors are human. Because of this, it’s essential to understand what malpractice insurance is. It is a type of professional liability insurance that protects them from liability associated with unlawful practices. As a professional starting out, it’s better to have security for personal assets.

With that, here’s why having malpractice insurance benefits newly-licensed doctors and the risks they take without it:

Benefits

The main benefit of having protection is safety from losing personal financial assets. Malpractice insurance protects you from false recommendations in patient treatment, wrong diagnoses, etc. If claims are made against a newly-licensed doctor, legal fees are also covered no matter what. 

As a professional with years ahead of you, having a medical malpractice insurance policy covering you is the best way to start. With the help of an established non-life insurance company in the Philippines, you will maintain peace of mind knowing that your livelihood and assets aren’t at stake.

Risks

Most people are unaware of how often medical errors occur. It is a necessity to be aware of what mistakes you could be protected from. Here are the wrongful practices doctors are protected from by having malpractice insurance:

• False diagnosis of a patient’s condition (wrong recommendations)

• Unnecessary medical expenses from ill-advised treatments

• Bodily injuries

• Property damage

Without any assurance, a newly-licensed doctor is left unprotected from the cost of legal fees related to such claims. Secure your future in the medical field with the aid of a recognized non-life insurance company in the Philippines today.