Malpractice Insurance

If there’s one thing sure in this world, it’s that anything can happen. You may be a well-lauded professional today and then wrongfully sued for malpractice the next. How do you prepare and protect yourself and practice from this? 

This is where having a malpractice insurance policy can give you peace of mind. KASE Insurance is a leading provider of malpractice insurance in Toronto.

What Is Malpractice Insurance?

Malpractice insurance is a type of professional liability insurance. It protects professionals in the event that a dissatisfied client or patient makes a formal case against them under the account of neglect, violation of the standard of care, or erroneous treatment decisions that as a result caused physical or emotional injury or jeopardized the overall welfare of the client. Malpractice is not limited to the medical field. Pharmacists and lawyers can also be sued and taken to court by aggrieved clients.

Why Is Malpractice Insurance so Important?

Through the years, there have been countless studies that have looked into the prevalence and risks of medical malpractice. All evidence suggests that a practicing physician will, in fact, benefit from having medical malpractice insurance at some point during his entire professional career.

A 2018 Johns Hopkins research claims that over 250,000 patients in the U.S. die every year from medical errors, which can happen any time from diagnosis, the actual treatment, up to post-treatment care. Medical malpractice has been touted as the third leading cause of death next to heart disease and cancer. During the same year, the Canadian Patient Safety Institute, a non-profit organization, revealed that about 28,000 patients die because of preventable medical malpractice in the country, too.

From these incidents, tens of thousands of medical malpractice lawsuits are filed each year, with billions of dollars spent on settling patient claims. Without malpractice insurance in place, it’s not hard to imagine how one unfortunate incident can dry up your savings and drag your professional career down the drain.

What Does Malpractice Insurance Cover?

Most malpractice insurance in Toronto typically covers acts of error and omissions. The insuring agreement should specify the exclusions, conditions, and definitions involved.

While some details may vary depending on your insurance provider and the unique conditions in the province or state where you are practicing, standard malpractice insurance generally provides coverage for the following:

  • Settlement claims the insured is required to pay to the plaintiff by law because of a proven malpractice case. The claim should be made during the validity of the policy.
  • Legal fees to defend you against the covered claims. Your provider will assign an attorney to help you out with your case. If you decide to get your own attorney, you will have to pay for his incurred fees out of your own pocket.

It is crucial to note that purchasing malpractice insurance in Toronto does not give you the license to put yourself in compromising situations. As we have mentioned, there are exclusions that can disqualify your malpractice insurance claims. Here are some examples.

  • Incidents that occur while you were under the influence of drugs or alcohol
  • Any case that is sexual in nature
  • Fraudulent and illegal acts
  • Claims from specified procedures in the contract
  • Claims from unauthorized disclosure of medical records

As with all insurance contracts, be inquisitive and outspoken if there are terms that seem vague or confusing as they play a huge role in the specifics of your scope of coverage. Logically, medical malpractice insurance has annual limits. Depending on the policy, the limit may add the legal assistance cost on top of the damage payments, which can exhaust your coverage immediately. Ideally, the best option is to shop for malpractice insurance that has a separate limit for it.

Who Needs Malpractice Insurance?

Malpractice insurance falls under a professional liability policy. It can be customized to fit various industries for the benefit of any licensed professional. Here are some examples.

Medical Malpractice Insurance

In the healthcare industry, medical malpractice insurance is also known as medical professional liability insurance. It is highly recommended to general physicians and medical specialists, opticians, obstetricians, pediatricians, surgeons, gynecologists, and dentists.

On the other hand, if you employ other healthcare practitioners, whether as full-time staff or independent contractors in your practice, purchasing medical malpractice insurance with vicarious liability coverage is encouraged. This feature protects you from claims due to their medical errors.

Legal Malpractice Insurance

Attorneys are also at risk of being taken to court by disgruntled clients who are unhappy with how their case was handled. They can sue you, whether rightfully or maliciously for legal malpractice. This mitigates claims of professional negligence against you; protects your reputation, practice, staff, and associates; and gives you the confidence to concentrate on cases.

Pharmacy Malpractice Insurance

Pharmacists are also susceptible to malpractice complaints, which can be due to releasing the wrong drug to the wrong person or giving incorrect dosage. Any individual who works at a pharmacy and dispenses drugs or administers doses to customers could benefit from a pharmacy malpractice insurance. Some state laws obligate hospitals, nursing care facilities, and community-run pharmacies to provide malpractice insurance to their employees. This, however, is not the case for those working as contractual, part-time, or consultants.

Why Choose KASE Insurance?

KASE Insurance is a top-rated provider of malpractice insurance in Toronto. We are most notably known for our one-of-a-kind insurance policies that are specially developed to serve the risks and requirements unique to each business niche and industry.

To know more about us and our different professional liability insurance and malpractice insurance coverage, we encourage you to reach out to us. Our knowledgable staff would be more than happy to respond with a free quote or schedule you for a no-commitment consultation with one of our lead brokers to discuss your concerns in detail.

Contact KASE Insurance now!


Read what clients have to say about KASE

By far the most professional and trustworthy insurance brokerage I have known. We have been working with this firm for number of years now and I have nothing but good to say about their team and services. Stan and his team won't stop until we are fully satisfied. They are always on top of things, super fast in their assistance and very professional. I highly recommend this firm to anyone seeking for great insurance brokerage to work with. Big Thank You to Stan and Kase Insurance for many many years of great service!

Reviewer: Alex K


5 out of 5 stars

Stan and is team at KASE Insurance have been fantastic in explaining what insurance we needed for our business. Very hands on approach and detailed. I work highly recommend KASE Insurance for any business owner looking for great service.

Reviewer: Kyle Grooms


5 out of 5 stars

The KASE team is very easy to work with. They answer your questions quickly, walk you through the process patiently, and find you great rates. We've been working with them for a few years and we haven't felt the need to shop elsewhere because of their customer service.

Reviewer: Sasha Boersma


5 out of 5 stars

Read what clients have to say about KASE