What Is the Definition of Malpractice Insurance?
Each time a health care professional is sued for malpractice, there is a minimum average cost of more than $24,000 associated with establishing a defense alone, reports the U.S. Department of Health and Human Services. Mapractice insurance helps protect health care professionals from these costs.FunctionMedical practice insurance is a type of protection that covers the cost of legal fees or settlements and damages awarded as a part of a court case.Types of ProfessionalsWhile most people think of malpractice insurance for doctors, other health care workers may purchase the coverage as well, including nurses, occupational and physical therapists, physician’s assistants and pharmacists.CostIn exchange for the coverage provided by malpractice insurance, health care providers pay a premium or fee, which typically starts at around $35,000 per year and may cost hundreds of thousands, reports the U.S. Department of Health and Human Services. The cost of the coverage varies based on the provide
