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Find the best malpractice insurance policy

If you work in healthcare, you need malpractice insurance to protect you financially from liability claims. Everyone makes mistakes, even professionals. Even though you are focused on offering the best care to your patients, accidents happen. One wrong decision or oversight could lead to a lawsuit. Medical malpractice insurance provides additional protection that is above what is covered by your business insurance policy.

At ThinkInsure, our commercial insurance brokers will help you find the right coverage and ensure you have proper protection against malpractice claims and lawsuits. Compare quotes from the top insurers in Canada and get a better rate.

Top things to know about malpractice insurance

Malpractice insurance is a type of liability coverage for health professionals.
It protects from alleged malpractice, negligence, errors, and actions injuries to patients.
Coverage includes legal fees, settlements, and other financial compensation.

What is malpractice insurance?

A male optician is examining the patient's eyes.

Malpractice insurance is a form of liability insurance that protects professionals if patients take legal action against them because of alleged mistakes, neglect, errors, and malpractice claims. Policies are customed to meet the needs of specific industries. It will help cover the cost of legal representation and settlements.

It is a type of professional liability insurance that can be referred to as:

Professional liability malpractice insurance
Professional malpractice insurance
Medical malpractice insurance

Malpractice insurance is not limited to healthcare. Lawyers, legal professionals and pharmacists may also require this type of insurance.

Why do you need a malpractice insurance policy?

Mistakes happen. There are thousands of medical malpractice lawsuits every year in Canada. Some individuals make false claims against healthcare professionals. Malpractice insurance protects you with alleged claims made against you for erroneous actions or advice. A single claim against you could put your practice at risk. A malpractice insurance policy offers financial protection.

What professionals need malpractice insurance coverage?

Malpractice insurance can be helpful for all types of health and medical professionals:

Doctors
Medical specialists
Surgeons
Anaesthesiologists
Acupuncturist
Massage Therapists
Registered Nurses
Chiropractors
Counsellors
Dieticians
Pharmacists
Opticians
Dentists and Hygienists
Speech Pathologists
Social Workers
Occupational Therapists
Health and Wellness Practitioners
Audiologists
Psychotherapist
Optometrists
Physiotherapists
Telehealth Professionals
Paramedics
Other types of Physicians

What does malpractice insurance cover?

Malpractice insurance covers you for a variety of actions, including but not limited to the following:

Negligence
Misdiagnosis or failure to diagnose
Errors and omissions
Standard of care violations
Ineffective or inappropriate treatments
Injuries from treatment
Lack of informed consent
Incorrect medical prescriptions
Failure to monitor patients
Failure to inform or communicate side effects or potential issues
Emotional damage
Putting patients in jeopardy
False accusations

If a patient chooses to sue because of the above-alleged actions, your policy will cover the legal fees to defend you. It will also cover some or all of the cost of settlements.

What is not covered by malpractice insurance?

Malpractice policies are not all-encompassing. Some exclusions could void your coverage. They include:

Fraudulent activities
Reckless acts
Illegal or criminal acts (you’ll need crime insurance)
Unauthorized disclosure of medical records
Falsifying medical records
Contractual liability
Treatment cost estimates
If you were under the influence of drugs or alcohol when providing care
Sexual misconduct

Examples of how malpractice insurance works

Example #1: A patient is given the wrong medication dosage

A nurse on your staff misreads the medication prescriptions and gives a patient the wrong dosage, causing an adverse reaction. The patient sues. Your policy covers the legal fees.

Example #2: A patient is injured during rehabilitation

In working with a patient, a physiotherapist takes a too-aggressive approach to treatment, causing additional injuries. The patient sues. Your policy will cover legal fees, medical care, and other settlement costs.

How to get malpractice insurance quotes

Our commercial insurance brokers can help you secure the right policy to match your needs. You can get a quote in three quick steps:

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Provide some details about your requirements.

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How much is malpractice insurance?

The average cost of malpractice insurance is difficult to estimate. Premiums will vary based on your profession, the services you offer, and your credentials. Generally, the greater the risk associated with your profession, the more insurance will cost. For example, a surgeon would pay significantly more than a massage therapist.

What factors affect malpractice insurance premiums?

Insurers consider many factors when determining premiums. Here are some specific to health professionals:

The risk association with your profession
The services and treatments you offer
Credentials, education and certifications
Number of employees
Hours of operation and the size of your patient list
Annual revenue
Your claims history
The location of your practice

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2024-11-28

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2024-11-27

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2024-11-15

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2024-11-05

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Malpractice insurance FAQs

Is malpractice insurance the same as professional liability insurance?

Malpractice insurance is a type of professional liability insurance. The coverage is very similar, but malpractice coverage is catered to healthcare professionals. The types of threats, plan limits, and policy details are customized for medical practitioners.

Does malpractice insurance cover criminal charges?

No. Malpractice insurance does not cover practitioners for their actions if they are criminal. This includes breaking the law, intentional acts, and fraud.

Does malpractice insurance cover legal fees?

Yes. Malpractice insurance will cover your legal fees if you are sued. You will have legal costs covered up to your policy limit. Check your policy or speak with your insurer to verify how much coverage is included in your plan.

Is negligence covered by malpractice insurance?

Yes, malpractice coverage includes professional negligence. Most will cover it if it's accidental. Deliberate acts that jeopardize a patient's well-being will not be covered.

Get a malpractice insurance quote

Compare malpractice insurance quotes to find the best policy for your practice. At ThinkInsure, our brokers help you identify threats to your healthcare business and build a plan to mitigate them. Get affordable rates from the top Canadian companies and save more. Speak with us today.

Call 1-855-550-5515 or request a quote online.

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Malpractice Insurance

Get malpractice insurance quotes from the top insurers in Canada and protect your business.

Compare rates from Canada's top business insurers

Find the best malpractice insurance policy

Top things to know about malpractice insurance

What is malpractice insurance?

Why do you need a malpractice insurance policy?

What professionals need malpractice insurance coverage?

What does malpractice insurance cover?

What is not covered by malpractice insurance?

Examples of how malpractice insurance works

How to get malpractice insurance quotes

How much is malpractice insurance?

What factors affect malpractice insurance premiums?

5 star insurance reviews

Malpractice insurance FAQs

Is malpractice insurance the same as professional liability insurance?

Does malpractice insurance cover criminal charges?

Does malpractice insurance cover legal fees?

Is negligence covered by malpractice insurance?

Get a malpractice insurance quote

More ways to save on business insurance

Malpractice Insurance

Get malpractice insurance quotes from the top insurers in Canada and protect your business.

Compare rates from Canada's top business insurers

Find the best malpractice insurance policy

Top things to know about malpractice insurance

What is malpractice insurance?

Why do you need a malpractice insurance policy?

What professionals need malpractice insurance coverage?

What does malpractice insurance cover?

What is not covered by malpractice insurance?

Examples of how malpractice insurance works

How to get malpractice insurance quotes

How much is malpractice insurance?

What factors affect malpractice insurance premiums?

5 star insurance reviews

Malpractice insurance FAQs

Is malpractice insurance the same as professional liability insurance?

Does malpractice insurance cover criminal charges?

Does malpractice insurance cover legal fees​?

Is negligence covered by malpractice insurance?

Get a malpractice insurance quote

More ways to save on business insurance

Does malpractice insurance cover legal fees?