ICICI Lombard Launches Professional Indemnity Insurance for Doctors
ICICI Lombard, one of the leading general insurance companies in India, has launched a professional indemnity insurance policy for doctors.
This policy will provide cover for any legal liability arising out of professional negligence on the part of the insured doctor.
Professional indemnity insurance supports doctors both legally and financially in the event of a lawsuit.
The main features of the offer include coverage against legal liabilities such as defense costs incurred during the investigation, cost of representation and compensation for death claims due to bodily injury or error, omission and negligence.
Speaking about the launch, Sanjeev Mantri, executive director of ICICI Lombard General Insurance said, “With the launch of this policy, we aim to provide complete peace of mind to doctors who are often exposed to the risk of litigation. We are confident that this policy will be well received by the medical fraternity.”
“Any victim has the right to sue them for medical negligence. In such cases, our Professional Indemnity insurance protects doctors against all occupational risks such as legal defense costs, compensation claims, injuries among others as well as invalid claims. As a company, we are committed to protecting the interests of medical practitioners and providing the best financial and legal protection as they really deserve” Sanjeev added.
The policy provides cover for any legal liability arising out of professional negligence on the part of the insured doctor, including but not limited to damages awarded by a court of law, settlements arrived at through arbitration or mediation, and out-of-court settlements. The policy also covers expenses incurred in defending a lawsuit, up to the limit of sum insured.
The company said the product is available at its traditional distribution partners as well as its website www.sme.icicilombard.com.
It will also provide coverage against invalid claims where there is no fault of the practitioner covering the legal fees and settlement compensation paid against the claims made by the court or in cases of legal claims due to allegations of medical malpractice and breach of confidentiality allegations, Sanjeev Mantri added.
This is a comprehensive policy that will protect doctors against any financial loss arising out of professional negligence.
It is available for both individual doctors as well as group/trust/society/association of individual doctors. The policy can be customized to suit the specific needs of the insured doctor.
ICICI Lombard, among other companies, delivers end-to-end wellness solutions to its valued customers through its insurance products.
The Professional indemnity insurance for doctors in the SME category is an innovative offer from this leading general insurance company and their focus on providing their clients with an excellent experience.
ICICI Lombard General Insurance Company Limited is one of the leading private sector general insurance companies in India. The company offers a wide range of insurance products for individuals, families and businesses.
Some of the popular products include motor, health, travel, home, personal accident and general insurance.
ICICI Lombard has a strong distribution network comprising of agents, brokers, corporates and banking partners.
The company also has an extensive direct channel comprising of its website www.icicilombard.com and customer care centres.
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