Medlegal | Indemnity Insurance

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What is indemnity insurance?

Indemnity insurance is a contractual agreement in which one party guarantees compensation for actual or potential losses or damages sustained by another party. Professional indemnity is an insurance plan to financially safeguard medical practitioners against legal costs and claims for compensation by the patients in case of a legal row. It is specifically designed for the professionals to cover them against the liabilities arising out of an error or omissions committed while rendering their services to their respective clients

Why it is necessary in present scenario? (Here you can mention the risks doctors have during the professional life)

Due to the rise in litigations and frivolous charges, doctors are driven to take indemnity insurance, every year, some of them to the tune of lakhs of rupees. Thus, in today's litigious world, claims can pose a significant threat to the financial security for a medical practitioner.Indemnity insurance protects against claims arising from possible negligence or failure to perform that result in a client’s financial loss or legal entanglement. A client who suffers a loss can file a civil claim, and in response, the professional’s indemnity insurance will pay litigation costs as well as any damages awarded by the court.

What is covered under indemnity insurance?

The policy covers - Legal liability arising in the event of a third party submitting a complaint (claim) against you for the losses arising out of actual or alleged negligent act, error or omission in the provision of the Professional Services rendered

Legal cost and expenses on reimbursement basis included within Limit of Liability
Cover limited to Named medical practitioners registered with Medical Association of India and duly licensed physician/doctor under national legislation, ethical codes and rules
Professional Services – All professional and Medical Services as rendered by the Insured Doctor registered with Medical Council of India
- Professional Service rendered by Ayurveda/Ayush practitioners registered with Central Council of Indian Medicine or any other required regulatory by authorized by GOI
- Dental treatments (under Anesthesia) given by Insured doctor registered with Dental Council of India
Unintentional breach of duty & breach of confidentiality
Unintentional breach of duty & breach of confidentiality
Cover for Loss of Documents sub limited to 1% of Sum Insured
Cover for out-of-court settlement & court awards
Policy will be primary and non-contributory
Dishonesty of Employees Extension
Un-Intentional Libel, Slander & defamation extension
Claims under National Human Rights Commission, Consumer Protection Act and any other such applicable law
Cover for corrective cosmetic surgeries (plastic surgery in connection with burns or other traumatic injury only)

What is not covered under indemnity insurance

This policy does not cover liability arising out of or in connection with: -

Criminal act or any act committed in violation of law
Services rendered under influence of intoxicants or narcotics
Treatment related to HIV/AIDS and weight loss
Cosmetic plastic surgery (viz. hair transplants, punch grafts, flap rotation, silicone implants and similar surgeries referred to as “Cosmetic”) with carve back for Corrective cosmetic surgeries – in connection with burns or traumatic injury only
Third party public liability
Assumed liability by agreement which would not have attached in the absence of agreement
Willful conduct
Punitive Damages
Claims arising out of genetic injuries caused by X-Ray treatment/diagnosis or treatment with radioactive substances
Injury/death of any person under a contract of employment or apprenticeship with the insured when such injury/death arises out of the execution of the contract
Blood and Blood Products Exclusion
Claims arising from any condition directly or indirectly caused by or association with Human T cell Lymphotropic Virus Type III (HTLV 111) or Lymphadenopathy Associated Virus (LAV) or the mutants derives or variations thereof or in any way related to acquired Immune Deficiency Syndrome or any syndrome or condition of a similar kind howsoever it may be named
Liability arising from clinical research or clinical trials
In-vitro fertilization and wrongful life claims

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