If you are a health care provider, then you need to have malpractice insurance to protect yourself and your practice. Nearly all states in the United States require that physicians have malpractice insurance. Even in states that do not have the requirement, nearly all physicians will have malpractice insurance in order to be able to see patients at a hospital.
Malpractice insurance for physicians is available from commercial insurance companies or physician-owned mutual companies. Many physicians either opt for individual or group practice insurance. Hospitals and health care facilities that employ physicians usually purchase their own malpractice insurance so that they and the physician are covered. However, if a physician is working for the federal government, he does not need malpractice insurance because when he is sued, the plaintiff is effectively bringing a case against the federal government. This is also true for state employed physicians, who receive coverage from the state.
For many physicians, choosing malpractice insurance can be quite expensive and time consuming. However, the best way to go about is shopping around and getting quotes from different insurance companies, including physician owned mutual companies. Insurance companies that reach their new business quota will not accept new clients. So, be careful about this aspect. In addition, insurance companies tend to favor one medical specialty over another because a particular medical specialty may be exposed to too many malpractice lawsuits. Make sure you select a malpractice insurance for physicians that best suits your needs and is offered at an affordable rate.
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