Insurance coverage designed to protect healthcare providers from liability associated with patient injuries resulting from medical errors, negligence, or omissions in the course of treatment.
The amount of money that a healthcare provider pays to an insurance company in exchange for coverage under a medical malpractice insurance policy.
A type of insurance policy that provides coverage only for claims made during the policy period, regardless of when the incident leading to the claim occurred.
A type of insurance policy that covers claims arising from incidents that occur during the policy period, regardless of when the claim is filed.
Additional coverage purchased to extend the reporting period of a claims-made policy beyond its expiration date, ensuring protection for claims filed after the policy lapses.
A provision in an insurance policy that requires the insurer to obtain the consent of the insured healthcare provider before settling a claim or lawsuit.
Strategies and protocols implemented by healthcare providers to identify, assess, and mitigate risks associated with patient care, with the goal of reducing the likelihood of medical malpractice claims.
The process of documenting and reporting adverse events, near misses, and other incidents that may lead to medical malpractice claims, as part of a healthcare organization’s risk management efforts.
The maximum amount that an insurance policy will pay for covered claims, typically stated as a per-claim limit and an aggregate limit for the policy period.
The process by which an insurance company evaluates the risk associated with insuring a healthcare provider, including factors such as specialty, claims history, and practice location, to determine the premium and terms of coverage.