Injured patients or families who have suffered wrongful deaths due to malpractice can file medical malpractice claims to pursue the compensation they need for medical bills, lost wages, pain and suffering and other damages caused by the negligent actions of the at-fault care provider. Malpractice insurance protects doctors, hospitals, medical networks and other employers and healthcare workers in the event they are subject to a malpractice claim.
Being injured by an insured medical provider does not necessarily mean plaintiffs can easily receive the compensation they are justly owed. Insurance companies aren’t known for parting with money when they can prevent it, which is why they often fiercely contest even legitimate malpractice claims.
Why Is Medical Malpractice Insurance Important?
Although doctors and hospitals are known for having deep pockets, they may still balk at the damages sought in medical malpractice claims. This is because their negligence can have profound lasting ramifications for patients and result in hundreds of thousands or even millions of dollars in legitimate damages.
Medical malpractice insurance shields healthcare professionals and employers who may not be able to afford to pay for a costly legal battle or settlement out of their own pocket. Without malpractice insurance, they might be at risk of declaring bankruptcy, which could significantly limit a plaintiff’s ability to recover fair compensation.
In other words, medical malpractice insurance protects both the doctor and the patient, ensuring that both have a safety net in case of professional negligence.
What Medical Malpractice Plaintiffs Should Know About Claims-Made vs. Occurrence-Based Insurance
Coverage Period
Medical professionals either have claims-made or occurrence-based medical malpractice insurance. Claims-made insurance encompasses incidents reported during the policy period, while occurrence-based insurance covers those that occurred during the policy period.
Under the claims-made system, if the insured provider switches to a different insurer or retires, they may need to purchase tail coverage to ensure coverage for past instances of malpractice.
This isn’t an issue if the doctor has occurrence-based insurance. As long as the insurance policy was still in effect when the incident happened, they will be covered regardless of when plaintiffs file a claim.
However, simply having more time to file doesn’t mean it’s a good idea for plaintiffs to wait. There are several reasons why filing sooner rather than later is beneficial, even if you still have time according to the statute of limitations.
Statute of Limitations
For both claims-made and occurrence-based insurance, the statute of limitations for filing a medical malpractice claim begins when the incident occurred or when the plaintiff knows or reasonably should have known of the injury.
The statute of limitations can complicate matters if the provider had claims-made insurance, especially if the plaintiff only realized the full extent of their injury well after the event took place and the relevant policy is no longer in effect.
Premium Stability
The liable medical professional’s premium rates might affect how much they have saved to compensate people they injure as a result of malpractice. Compared to occurrence-based medical malpractice insurance, claims-made insurance almost always has lower initial premiums. However, these premiums tend to increase more over time than occurrence-based policies, which may have fixed premiums.
Retroactive Date
Cases that transpired prior to the relevant policy may not be eligible for coverage under claims-made insurance. This isn’t a problem for occurrence-based insurance since they track when the claim happened instead of when it was reported.
What Do I Need to Prove in My Medical Malpractice Claim?
At the Weycer Law Firm, our attorneys are committed to establishing solid foundations for claims with clear and decisive evidence, including finding and working with expert witnesses.
The testimony of a doctor in the same field as the liable medical professional is essential to your claim’s validity. A qualified medical professional can provide insight into the right course of action given your situation and shed light on the responsible party’s negligence or misconduct and their betrayal of professional care standards.
With any type of injury that changes your life and the life of your family forever, it’s important to leave no stone unturned when establishing a full and clear picture of an injury’s ramifications.
We’ll illustrate the full extent of damages you or your family have suffered, including medical bills, lost current and future wages, lost potential career advancement, long-term physical and psychological therapy costs, pain and suffering and much more.
Our Experienced Attorneys Who’ve Won Similar Cases for Houston Malpractice Plaintiffs
Filing a medical malpractice claim is challenging for anyone without a legal background, but it can be especially difficult if you’re also trying to recover from an injury or adjust to a new disability at the same time.
At the Weycer Law Firm, our lawyers are ready to defend your rights and take the legal battle off your shoulders. We’ll navigate the complicated claims landscape on your behalf, work with expert witnesses and pursue maximum recovery while you can focus on your recovery.
Call (713) 668-4545 today to schedule a free one-on-one case consultation with experienced legal representation.
