Malpractice insurance is a type of professional liability insurance that provides coverage for damages resulting from claims of negligence or misconduct in a professional setting. For medical professionals, malpractice insurance covers legal fees, settlements, and judgments in cases where patients allege harm due to negligence.
Other professions, such as lawyers and accountants, may also carry malpractice insurance to protect against claims of professional errors.
Malpractice insurance is important because it ensures that professionals can defend themselves against claims of negligence without facing financial ruin. For injured parties, the presence of malpractice insurance often facilitates settlement negotiations and guarantees compensation if liability is established.
In personal injury cases, malpractice insurance often plays a central role in determining the resources available for settlement or judgment.
When dealing with malpractice insurance in personal injury claims:
Malpractice insurance provides financial security for professionals while ensuring compensation for victims of negligence.
