Professional Medical Indemnity Insurance - Protection for the experts, by the experts

Abstract

[3] The scope of Professional Indemnity Insurance is to provide cover for the extent of financial damage for the loss caused to the victim against unintentional errors and omissions by the doctor, insured qualified and nonqualified employees, and staff. First year membership is INR 3000, and if no claims are made, then the membership fee is gradually reduced—second year membership fee is INR 2900, third year membership fee is INR 2800, fourth year membership fee is INR 2700, fifth year membership fee is INR 2600, and sixth year membership fee is INR 2500. According to a survey conducted in 2016 by the National Law University, Bengaluru,[8] there has been a whopping rise of 400% in cases related to medical negligence filed in consumer courts. [...]the need to be financially and legally insured is gaining velocity to protect the doctors if they are sued for mistakes and negligence.