What role does an insurance coverage play when a medical malpractice takes place? The role of an insurance coverage is essential in any medical error case. A victim of a medical mistake will have to be dealing with the insurance company of the defendant, which is not an easy task. Insurance companies always try to avoid paying what is owed to the victim or try to limit the amount that they will receive. For this reason, the best road to take is seeking the help of an experienced error within the medical field attorney that will be able to deal with the tactics that these insurance companies will use.
A victim of a medical mistake needs to understand the various policies, limits, and factors associated with the insurance coverage. Being knowledgeable of such facts can help the victim understand where they stand and permit them to recover as much as possible. Any knowledgeable medical malpractice lawyer would be able to assist the plaintiff in learning every fact associated with their medical malpractice case.
Insurance Policies Associated With Malpractice
Medical malpractice cases can consist of various types of policies. There are two most common insurance policies that are used for malpractice cases, those include occurrence-made policies and claims-made policies. With an occurrence-made policy, regardless of when a claim is made against them, the physician would be covered for accidents that took place at the time when their policy was in effect. With a claims-made policy, the physician would be covered as long as their policy was in effect during the time that the claim was made and when the medical error took place.
Coverage Limits Associated With Malpractice
Mistakes in the medical field have two types of coverage limits, those include aggregate coverage limit and per-occurrence coverage limit. Aggregate coverage limit refers to the total amount that would be paid by the insurance company over a period of time. Per-occurrence coverage limit means that amount of money that the insurance company would pay for a single claim. Let’s say that a physician has a $2,000,000 per-occurrence coverage with a $4,000,000 aggregate yearly limit. In this case, the insurance company would not pay more than $4,000,000 in one year for all claims and no more than $2,000,000 for one claim made against them.
Facts to Consider in Medical Malpractice Insurance Policies
Other factors that should be taken into account for insurance coverage’s whether the physician has a personal coverage, a group coverage, or an exclusion. Insurance plays a vital role in medical malpractice cases, especially for the victim. The firm of Percy Martinez battles against these insurance companies to compensate their clients fairly. The best medical malpractice attorneys always suggest to those who are injured by a medical professional to not attempt to deal with the insurance company on their own.
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