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PA Malpractice Insurance

Professionals in the Commonwealth of Pennsylvania need to purchase PA malpractice insurance. Depending on the field in which a professional works, the cost of insurance varies greatly. Physicians and medical personnel who work in high-risk areas, such as the emergency room or surgery unit, face much higher rates than average. The state also has many specific rules about insurance policies of this type.

Pennsylvania requires professionals to carry a liability policy. State law provides that licensees must notify the state Board within 30 days of planning to cancel a policy. If a policy is cancelled, the professional license is suspended for 60 days, after which time it may be reinstated with the appropriate procedure and fee. A waiver may be filed to prevent suspension of a license, but approval is subject to the State Board's discretion.

PA Malpractice Insurance - What You Should Know

Licensees with a professional title may also request a waiver to carry malpractice insurance permanently. If this is the case, the licensee must write to the board, requesting a waiver of the requirement. The request must contain specific and valid reasons why the waiver should be granted. It is left up to the discretion of the Board to approve or deny the request.

PA malpractice insurance companies offer two different types of policies, depending on the professions they serve. Policies may be claim-based or occurrence-based. Occurrence-based policies cover specific incidents. Each incident has a maximum amount allowed. Along with this, there is a total aggregate amount allowed per cycle. Professionals in high-risk professions usually choose a policy that allows for at least $1 million per occurrence, with at least a $3 million aggregate amount.

Claim-based policies cover specific amounts for specific incidents. However, there are no limits per occurrence or an aggregate amount in most cases. This type of insurance is beneficial because it allows for retroactive pay for lawsuits filed years after the incident. If the policy was in place at the time of the incident and the statute of limitations is still in place, the incident is covered.

PA Malpractice Insurance Tips

Professionals are advised to get a free quote from a trusted PA malpractice insurance company. Since the law requires insurance or permission to go without, this is very important. Those who carry malpractice insurance must still exercise caution in their work ethic. Multiple claims filed from malpractice lawsuits always results in a raised premium amount. Switching providers doesn't affect the premium if a professional has a damaged claim history.

Last modified: May 15, 2011