Professional Indemnity Insurance-Medical Malpractice Insurance in Hong Kong
Hong Kong has one of the most advanced medical systems in the world. Every year, millions of people successfully receive treatment through Hong Kong’s private and public healthcare systems. But we all know that accidents happen. Even the most highly trained professional makes mistakes from time to time.
Whether you’re a doctor, dentist or Traditional Chinese Medicine (TCM) practitioner, physiotherapist, psychologist or osteopath you face the risk of litigation on a daily basis.
Your Legal Duty
As a medical professional, you’re responsible for the health and wellbeing of your patients. You have a legal duty to exercise due care (sometimes referred to as reasonable skill, care and diligence) in your treatment of patients to ensure they are getting the right advice and they are not harmed by your negligent actions or omissions.
If you breach this duty, a patient may sue you claiming medical negligence and you may be found liable and be forced to pay damages.
The Impacts of Medical Liability
Patients rely heavily on your expertise when you’re treating them. And they can sue for several things, some of the most common include: carelessness during surgery, failure to warn patients of the risks of certain procedures, wrongful diagnosis, among other things.
While it’s hard to determine the financial impact a medical liability claim would have, patients in Hong Kong will generally sue for pain & suffering (including loss of use of certain functions), loss of earnings, out of pocket expenses, and legal costs.
If your patients died, they can sue for funeral expenses as well as support for their dependents and loss of future earnings/savings.
Medical Malpractice Insurance
In order to protect yourself from these lawsuits, it behoves you to purchase Medical Malpractice Insurance, a specific type of professional indemnity/liability insurance for medical professionals.
On top of providing you the money needed to pay the amounts you are found liable for in court, the insurer will also provide you with expert legal representation and often times reputation management services as well.
Depending on what type of medical professional you are, there are different policies with coverages and premiums tailored towards the specific needs of your specialization. To find out more about how we can help you protect your practice, contact us.