Malayan offers medical insurance

MANILA, Philippines - Medical professionals can be protected in the event of being sued for committing wrongful or negligent medical services by purchasing medical malpractice liability insurance.

Medical malpractice arises when there is a mistake committed by a physician, or doctor or other medical professionals, which leads to an injury or death of a patient. Medical malpractice may also refer to the mistake committed by a medical facility such as hospitals.

In a medical malpractice cover, the insurer pays for the legal cost of the doctor or healthcare facility and pays for the damages as may be awarded by courts.

Although this is a highly valuable cover and has been available in the local market for a long time, it is not as popular even among the healthcare providers.

Malayan Insurance Co. said that it is important for medical doctors and other healthcare professionals to get malpractice insurance to serve as a buffer in the event that they will face litigations arising from their line of work.

Malayan’s MedProtect, for example, offers insurance liability limits ranging from as low as P1 million to P10 million, or even higher, depending on the case. MedProtect covers both the legal costs for the defense and settlement, in case the court awards in favor of the complainant.

As with any other professions, it is important that one’s operation is fully covered to ensure its business success. In the case of a legal conviction, a financial buffer exists to protect one’s assets.

Examples of common medical malpractice covered by MedProtect are failure to diagnose a disease or disorder, providing wrong diagnosis, medication errors, and surgical errors and improper treatment.

A duly licensed medical practitioner who has been practicing for at least a year is eligible to apply for a policy. For more information about MedProtect, visit www.malayan.com or call 242-8888.