What is indemnity insurance? What does it do? Indemnity insurance is a binding legal obligation of one party (typically the policyholder) to reimburse the other party (typically the insured) for any losses incurred as a result of another party’s negligence or acts. Statutes are intended to allow the insured party to recover damages from negligence and are also used in instances when the insured is being held liable for past or future claims, regardless of whether the insurer’s responsibilities to protect have been met. In other words, indemnity insurance helps to cover the risk of liability. This is why doctors should all have some kind of coverage to protect them from claims of harm or negligence.
The type of cover required will differ depending on the area of medical expertise and whether patients are seen, for example. This important cover should be in place as soon as a doctor begins to practise. To ensure the right type of cover, consider Medical Indemnity Insurance from a site like https://www.mprs-uk.com/products/general-practice/medical-indemnity-insurance/
For doctors working in the NHS, this insurance is provided but a medical professional must arrange their own cover if they offer any private practise, even if this takes place inside NHS property. For protection, it is imperative that medical professionals avail themselves of indemnity insurance to cover all the different aspects of their clinical practice.