If you are a medical professional, protecting yourself from legal risks is just as important as caring for your patients. One of the smartest ways to do that is by getting professional indemnity insurance for doctors. It is a type of liability coverage that protects professionals against legal claims arising from errors, omissions or negligence in their services. It covers legal costs, settlements and damages, ensuring financial and reputational protection.
While buying indemnity insurance for doctors is essential, many end up making simple mistakes that cost them later. Let’s walk through the common errors and how to avoid them.
Critical mistakes to avoid
Here are the key things to watch out for when choosing a professional indemnity policy for doctors:
Not understanding your coverage
Many doctors skip reading the fine print. Know exactly what is covered and what’s not.
Understand exclusions – some policies may not cover cosmetic procedures or overseas treatments.
Choosing inadequate coverage limits
Pick a sum insured that matches your risk level. Surgeons usually need more cover than general practitioners.
Consider your practice area, patient volume and past legal history.
Ignoring retroactive cover
Claims can be made years after the treatment.
Ensure your policy covers previous years (the retroactive date should match the start of your practice).
Not renewing on time
Gaps in your policy mean you might not be covered during that time.
Always renew before the expiry date to keep continuous protection.
Not disclosing full information
If you hide any past legal notices or complaints, the insurer may reject your claim.
Always provide honest and full details when buying the policy.
Relying only on low premiums
Cheap policies may not offer full protection.
Choose based on reputation, claim support and coverage, not just cost.
By avoiding these common mistakes, you can make sure your professional indemnity insurance truly protects you when you need it most.
Conclusion
Medical practice comes with risks. Having a strong professional indemnity insurance for doctors policy is not just wise, it is necessary. However, purchasing insurance is only the first step. It’s important to understand your specific needs and choose the right coverage carefully. Avoiding common mistakes —such as insufficient coverage, unclear policy terms or outdated coverage — can save you significant stress and financial loss in the future.
Disclaimer: The information provided in this blog is for educational and informational purposes only. It is advised to verify the currency and relevance of the data and information before taking any major steps. Please read the sales brochure / policy wordings carefully for detailed information about on risk factors, terms, conditions and exclusions. ICICI Lombard is not liable for any inaccuracies or consequences resulting from the use of this outdated information.