About Optometric Malpractice Insurance
Malpractice Insurance (i.e., Professional Liability Insurance) is an essential coverage for any professional who offers services, treatment, or counsel. Because your patients turn to you to take care of their eyesight, you could be sued if your treatment (or negligence) causes their vision or health to suffer.
Say, for example, you evaluate a child during a routine eye exam. You prescribe corrective lenses and think nothing of it. But in a few months, her pupil turns white — and when the parents get a second opinion from an ophthalmologist, she's diagnosed with a retinoblastoma. Turns out, if you had performed a dilated fundus examination using binocular indirect ophthalmoscopy, you would have properly diagnosed the problem from the beginning. And because she was a new patient, you should have performed the dilation, according to the standard of care. The parents decide to sue your practice for $1 million for the suffering and financial losses your oversight caused.
If such an incident happens, your Optometric Malpractice Insurance can cover lawsuits over…
- Professional negligence.
- Failure to adhere to accepted standards of care.
- Provision of inaccurate or shoddy services.
- Misrepresentation of services to a patient (such as an inadequate informed consent document).
When your practice is sued, Malpractice Insurance for Optometrists can cover lawyer's fees, settlements or judgments, and other court costs (up to your limits). But because the insurance is claims-made coverage , you must have the same policy in force when the incident occurs and when the claim is filed. If you fail to meet both conditions, you won't receive the compensation you need to weather the costly suit.