Protect Yourself From Lawsuits With Medical Malpractice Insurance

Doctors spend a great deal of their time caring for other people. If you are a doctor, you likely do everything you can to keep your patients healthy and happy. However, there are times when even the most skilled doctor cannot save a patient. This can be devastating, and it is even worse when the family comes after you, accusing you of medical malpractice. These cases can happen whether you were truly at fault or not. Be sure to protect yourself from Miami medical malpractice lawsuits by getting insurance.

As you likely know, lawsuits are expensive. Even if you win your case, hiring an attorney and dealing with court costs adds up rather quickly. If you lose your case, then the costs can multiply rapidly, and it can be enough to ruin both your finances and your reputation. This can be a nightmare, so it’s important to have insurance to be sure you are protected. Because of the amount of expertise the subject of medical malpractice requires, it is incredibly helpful to have a knowledgeable insurance broker on your side.

Doctors aren’t the only people who should look into this type of insurance. Any medical professional that deals with patients on a regular basis should consider looking into insurance coverage. Nurses and other medical personnel can also be sued for Miami medical malpractice, so be sure to get the protection you need.

E&O Insurance Offers Protection When Mistakes Occur

Some mistakes are not forgiven or forgotten. Service-providing businesses are vulnerable to claims filed by disgruntled clients. With errors and omissions insurance, though, these businesses can protect themselves financially.

How E&O Insurance Protects Businesses

E&O insurance comes in several different forms, but in general, this type of coverage protects businesses that are sued for negligence or failing to provide a particular service. For medical practices this is known as malpractice insurance, and for law firms it is known as professional liability insurance. Most policies cover defense and settlement costs as well as the damages awarded to clients. Civil lawsuits can cost businesses thousands of dollars, and the insurance prevents them from bearing the full weight of this financial burden.

Why Businesses Need Insurance

Clients file claims for a variety of reasons, including:

  • Negligence
  • Inaccurate advice
  • Misrepresentation
  • Violation of good faith

By having insurance, businesses ensure that their financial assets are protected in the event of a civil lawsuit. There are various forms of errors and omissions insurance, with some protecting employers and others protecting manufacturers. When it comes to insurance, businesses are better off when they acquire a comprehensive policy.

When businesses make mistakes, they risk upsetting clients and causing claims to arise. With E&O insurance, they secure a thorough form of protection. Mistakes are always going to occur, but this type of coverage prevents them from leading to devastating consequences.

How Errors and Omission Insurance Can Help Your Company

No matter the business in question, allegations of wrongdoing can have dire financial consequences capable of devastating a commercial enterprise. This is especially true if these allegations result in legal action levied against the business, which includes steep fees for legal costs and the like.

Having reliable errors and omission insurance is essential to remaining protected from legal trouble incurred by claims of negligence or malfeasance. In addition to general insurance plans, these policies can provide coverage options for ongoing litigation, which can become extremely expensive over time.

What Does Errors and Omissions Cover?

Errors and omission insurance offers coverage for court costs related to claims of unsatisfactory services or products. This can include defense costs, as well as any damages awarded as a result of court proceedings. Because each policy is different, it’s important for clients to undertake a thorough to ensure their business’s needs are met.

What Other Polices Does a Business Need?

In addition to errors and omission insurance, clients should also considering adding onto these policies to ensure coverage is complete. Comprehensive insurance should include general liability, in addition to thing like directors and officers insurance, and coverage related to crime and theft.

The Right Policy Can Protect Your Business

A successful business should always plan for unexpected events. This includes having the right insurance plans in place to ensure your company can continue to perform vital daily tasks without obstruction.

Make Sure Your Small Business Is Covered

Small business owners know all too well the importance of budgeting. Many companies exist on a month-to-month basis, relying on contracts or large orders to tide them over until the next period. A costly lawsuit related to an error or omission can quickly devastate a small business. Having a reliable e & o insurance policy can give owners peace of mind and mitigate the financial risks of a claim.


How It Works


Most businesses already have a number of insurance policies in place, such as property insurance, workers’ compensation and liability. It is imperative to also have coverage for business malpractice, which covers a range of mistakes, such as:


  • Ruining an expensive item while performing housecleaning duties
  • Misplacing a valuable order
  • Crashing someone’s computer with software you did not know had a virus


Just about any business has inherent risks such as these, where costs can quickly escalate. Court fees alone can eat into a company’s budget, and a lawsuit will only add to expenses. E & o insurance will protect a business from the results of an earnest mistake.


Get Covered


A qualified insurance agent can perform a risk-benefit analysis to determine the type of policy that will best suit a small business’ budget. Similar to other insurance plans, there are deductibles, liability limits and other variables that can be adjusted and customized to each policyholder.


Do You Face a Risk of Potential Litigation?

Error and omissions insurance

Error and omissions insurance

Often times, new companies fail to recognize the totality of the risks involved in business ownership. They analyze every detail relating to their business, but ignore the fact that this is a very litigious society we are currently living in, and there is a significant risk in business ownership in a society such as this one. There are ways to protect against many forms of litigation, such as error and omissions insurance, but there are few ways to prevent the actions that result in litigation, making insurance a particularly valuable investment.


Who Is at Risk?


There are a number of industries that face litigation on a relatively frequent basis for a variety of reasons:


  • Real estate and escrow professionals
  • Technical and professional consultants
  • Architects and engineers
  • Legal, medical and financial professionals
  • Insurance agents and brokers


Of course, these fields are not the only ones that risk litigation, as any business that could cause financial harm through their actions or inactions can potentially face legal issues of some sort.


How Can You Protect Your Business?


Businesses protect themselves from litigious clients by investing in error and omissions insurance. This type of insurance is a professional liability coverage that ensures that a business is covered in the event of an employee mistake that caused a client to face financial harm. This type of coverage is very valuable in that it protects against potentially astronomical legal fees that could stem from a simple and honest mistake.