Understanding Medical Malpractice Horry South Carolina

Medical Malpractice Horry

As a physician in Horry, you likely already understand the importance of Medical Malpractice or have heard horror stories from peers who have experienced claims that created large disasters in their lives.   To prevent yourself from going through the same experience, you’ve sought out malpractice insurance and are attempting to identify the best Medical Malpractice Horry, SC.   The good news is, you’ve already begun to take the right steps in the direction that can help you avoid filing for bankruptcy, losing your medical license, and having to face the board for negligence.   A relief can be found when you purchase the right Medical Malpractice insurance Horry and it’s important to understand what your needs are before jumping in.   

The best way to break down the Medical Malpractice Horry, SC is through looking at contract types.   When reviewed, the legalese may become frustrating and unclear.   To clarify a few terms you’ll want to get more comfortable with reading, here is a simple breakdown of policy terms tat can be used to help you navigate the Medical Malpractice Horry, SC. 

 

Occurrence Policies

Occurrence policies exist to cover exactly what they sound like, an occurrence.   When a claim is filed, as long as the coverage was in effect during the time of the claim, the occurrence policy will be responsible for covering the damages.   The good news if you have this kind of policy is that while your contract may have already expired, if the claim is being made years later for the time the policy was active, you’ll still have access to the protection offered by the contract.   These policies are rarer and generally more costly than others.   While there are clear benefits, it can be more challenging to secure these types of policies.

Medical Malpractice insurance Horry

 

Claims-Made Policies

Policies for Medical Malpractice insurance Horry, SC are generally going to fall under this category.   Coverage generally exists for injuries or negligence while the policy is in effect and for claims made within that same active time frame.   These policies are more affordable than occurrence policies and are more common in the industry.   If you have concerns about changing insurers or the duration in general of a claims-made policy, there are additional actions that allow coverage to “follow” you as you transition. 

 

Medical Malpractice Insurance Horry

If you do end up purchasing a “claims-made” Medical Malpractice Horry, SC, you’ll likely want to also include tail-coverage.   This extends the same protection from the policy even after the term has stopped.   This simply follows you for an extended amount of time after the policy has ceased.   With that being said, this coverage can be costly and is generally purchased when the physician is exiting the contract. 

This information provided allows you to make a sound decision surrounding the purchase of your Medical Malpractice insurance Horry, SC.   While it is a big decision, it should be considered a large investment in your practice and in your future.   With the right Medical Malpractice insurance Horry, SC, you can sleep restfully and focus on the rewarding profession that you have worked hard for. 

Medical Malpractice insurance Horry