Anesthesiologist Malpractice Insurance

Anesthesiologists work hard to keep their patients safe. However, no matter how careful you are, mistakes, unfortunately, can still happen. From allergic reactions to wrongful death, patients can sue you for a number of reasons. That's why it's critical to protect yourself with the right coverage.

Luckily, a local independent insurance agent can help you get set up with all the anesthesiologist insurance you need. They can help you shop and compare policies to find the ideal amount of coverage. Until then, here's a breakdown of anesthesiologist insurance, what it covers, and more.

What Is Anesthesiologist Malpractice Insurance?

Anesthesiologist malpractice insurance is a special form of professional liability insurance designed for workers in the anesthesiology field. This coverage is also often called anesthesiologist professional liability insurance.

These policies can reimburse you for expenses related to mistakes, accidents, errors, and omissions on the job. Just one patient lawsuit can cost tens of thousands of dollars or more to defend, so having enough coverage is critical.

What Does Anesthesiologist Malpractice Insurance Cover?

Having anesthesiologist professional liability insurance is the only way to get the reimbursement you need after an expensive lawsuit involving a patient or their family member. It's impossible to predict when problems may arise during surgery, and since each patient reacts to anesthesia differently, protecting yourself is a must. Your professional liability insurance can pay for the following.

• The cost of arbitration and settlement
• Defense costs, including attorney and court expenses
• The cost of punitive and compensatory damages
• The cost of medical damages to your patients

An independent insurance agent can help you get set up with the right anesthesiologist malpractice insurance.

Why Do Anesthesiologists Need Malpractice Insurance?

Even when you have the best intentions in providing patient care, mistakes are bound to happen sometimes. If you administer too much or too little anesthesia, you could cause the patient harm, ranging from minor pain to death. The patient or their family may, in turn, sue you, and these lawsuits can be extremely costly.

Without the right malpractice or professional liability insurance, you'd have to pay for your legal defense and settlement expenses out of your own pocket. For many people, just one lawsuit could lead to bankruptcy without enough coverage.

Common Liability Claims Against Anesthesiologists

Unfortunately, anesthesiologists can be sued for many different reasons. Some of the common claims against them are as follows.

Protect yourself against these common liability claims against anesthesiologists with the right malpractice or professional liability insurance. An independent insurance agent can help you get covered today.

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Our independent agents shop around to find you the best coverage.

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What's Not Covered by Anesthesiologist Professional Liability Insurance?

While this coverage provides a lot of critical protection, it also comes with various exclusions to be aware of. These often include:

• Factual misrepresentations on insurance applications
• Illegal conduct
• Alleged sexual misconduct
• Malicious and intentional acts
• Claims covered under general liability insurance

A general liability policy can protect you against bodily injury or personal property damage to third parties not related to your work. An independent insurance agent can help you review your anesthesiologist malpractice insurance policy and outline its specific exclusions.

What Kind of Anesthesiologist Malpractice Insurance Do You Need?

Often, anesthesiologist malpractice insurance policies specify two different coverage limits, including the individual limit, or the maximum amount that will be paid for an individual claim, and the aggregate limit, or the maximum amount that will be paid by your policy for all claims within the policy year. If your policy states it has limits of $1,000,000/$3,000,000, this means it will pay, at most, $1 million per claim and up to $3 million for all claims during the policy's term. There are also multiple forms of malpractice insurance you can choose from.

• Claims-made policies: These policies reimburse you only if the service you provided and the patient's claim were made while the policy was in force. Tail coverage may also be included in your policy, which extends protection for a set period, such as a few years, after the policy's end date.
• Occurrence policies: These policies reimburse you if the service you provided took place while the policy is in force, regardless of when the patient's claim is filed.
• Modified occurrence policies: Also known as tail coverage, this extends a policy's protection after its term ends. After that coverage has expired, you can choose to add unlimited tail coverage. When retiring, many anesthesiologists rely on tail coverage to protect against claims that can still arise from past services.

Your independent insurance agent can help recommend the right type and amount of anesthesiologist professional liability insurance.

How Much Does Anesthesiologist Malpractice Insurance Cost?

The cost of your anesthesiologist malpractice insurance can vary based on many different factors. These can include:

• The type and amount of coverage you need
• How many hours you work per week
• Outstanding claims
• Whether you assist surgeons with minor or major surgeries
• Whether you belong to a medical group

A local independent insurance agent can help you find affordable anesthesiologist malpractice insurance near you.

Save on Professional Liability Insurance

Our independent agents shop around to find you the best coverage.

Request a quote

The Benefits of an Independent Insurance Agent

When it comes to helping insurance customers find the absolute best anesthesiologist malpractice coverage, no one’s better equipped to help than an independent insurance agent. Independent insurance agents search through multiple carriers to find providers who sell anesthesiologist professional liability insurance, deliver quotes from a number of different sources, and help you walk through them all to find the best blend of coverage and cost.