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ICICI Lombard Launches Professional Indemnity Insurance for Doctors; Check Details

ICICI Lombard said the insurance product is available with its traditional distribution partners as well as on its website.

ICICI Lombard said the insurance product is available with its traditional distribution partners as well as on its website.

Professional indemnity insurance supports doctors both legally and financially in the event of a lawsuit

Private general insurance company ICICI Lombard has launched a professional indemnity insurance for doctors, which covers all specialisations and provides instant policy issuance. It comes equipped with transparent and competitive pricing, a hassle-free claim process, and legal counsel services support in case of claims.

“As professionals, doctors are vulnerable to human errors where they can be held liable by the kin of the patients. As a solution to situations of such nature, this policy has been curated to provide support to medical practitioners against the scope of various human errors that can happen while rendering professional services to patients,” ICICI Lombard has said in a statement.

Professional indemnity insurance supports doctors both legally and financially in the event of a lawsuit. The key features of this offering comprise coverage against legal liabilities such as defense costs incurred during investigation, cost of representation, and compensation for claims arising out of bodily injury or death caused due to error, omission and negligence, according to the statement.

The company said the product is available with its traditional distribution partners as well as on its website www.sme.icicilombard.com. It will also provide coverage against invalid claims where there is no fault of the practitioner by covering the legal fees and settlement compensation to be paid against the claims awarded by the court, or in cases of medical malpractices allegations and legal suit due to breach of confidentiality allegations, it added.

Sanjeev Mantri, executive director of ICICI Lombard, said doctors and healthcare professionals are prone to uncertainties and risks while they are at the forefront to save lives. Error, omission, or at times unintentional negligence are a part and parcel of their professional life.

“Any aggrieved person possesses the right to claim damages for medical negligence against them. In such cases, our Professional Indemnity insurance safeguards doctors against all professional risks such as legal defense costs, compensation claims, injury among others, as well as against invalid claims. As a company, we are inclined towards protecting the interests and providing the best financial and legal security to the medical practitioners as they truly deserve the same,” Mantri added.

ICICI Lombard General Insurance Company customers a comprehensive and well-diversified range of products, including motor, health, crop, fire, personal accident, marine, engineering and liability insurance, through multiple distribution channels.

ICICI Lombard, among other companies, delivers end-to-end wellness solutions to its valued consumers through its insurance products. Doctors are focused on giving their best when it comes to saving lives. “However, there are uncertainties which can put their job at stake. The professional indemnity insurance for doctors under the SME category is an innovative offering from this leading general insurance company and goes on to show their focus on delivering a stellar experience to their customers.

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first published:May 22, 2022, 16:24 IST