Reasons You Need a Customized Errors and Omission Policy
When you are a professional in the medical world, an errors and omission insurance medical professional policy becomes a necessity. You never know when a mistake can happen—from a misdiagnosis to advice gone wrong. You need an insurance policy that can help cover your mistakes before they occur and also protect your employees from accidental mistakes that financially affect your clients.
Cover Mistakes Before They Happen
It’s all right if you have an insurance policy in place and never need to use it. However, not having a policy when you need it can be financially devastating—especially in medicine. If a misdiagnosis or certain advice leads to the illness, injury, or death of a patient, the financial burden will likely come back to haunt you. The right E & O insurance can help to cover the costs of things like punitive damages or medical malpractice in such cases.
Protect Your Employees
The employees of your business may be at risk as well. If a simple computational mistake leads to either miscommunication or mistreatment that results in financial or medical harm to a patient, the result could be a lawsuit. You’ll want a policy that helps protect your employees from honest mistakes, too.
Although you might not want to use it, having an errors and omission insurance medical professional policy really is necessary. Do what you can to help your patients live long, healthy lives, but protect yourself in case something unexpected happens.