Sure, there are different kinds of insurance.
Some we would need continuous coverage from, like health or life insurance. Some we would need only during a short or limited period of time like a travel insurance. But for medical professionals, more specifically for doctors they need an insurance that would help them well in their quite challenging profession.
The Challenging Life of a Doctor. The life of a doctor can be a truly challenging one. While they are agents of healing and recovery, they also make decisions and take action in life and death situations. And this can happen quite often as they exercise their profession. Some of these decisions and actions may adversely affect the quality of life of their patients and may even lead to fatal consequences.
After all, doctors are human, too.
They are as human as you and me who may not be in the medical field. And being human means they can, unfortunately, make mistakes. They can try to make the best course of action for a patient to heal and recover. But yes, they can make a wrong call in a given situation. And when this happens, it is best that they have this kind of insurance.
The Need for a Malpractice Insurance. This is the kind of insurance that doctors need. Doctors and even nurses need a malpractice insurance, specifically a medical malpractice insurance.
In the Philippines, Malayan Insurance offers different kinds of insurance and one of them is the medical malpractice insurance. This insurance is one of type of liability insurance. A liability insurance pays for the cost of damages as well as defense cost resulting from the negligent acts or omissions of the Assured. Specifically, the medical malpractice insurance covers liability arising from any failure to render medical services or an error in rendering medical services which resulted to death, sickness or bodily injury of the patient. Now while this product is available for doctors, Malayan also offers it for hospital establishments as well.
It Can be Worth It. Getting a medical malpractice insurance can certainly be helpful for doctors and hospitals and in the end even for the patient. It will cost something to get one but in the end, the benefits may prove to be worth it.