The limit of indemnity you need as a specialist doctor in South Africa will depend on several factors, including:
- your area of specialty; and/or
- the risks associated with your practice; and/or
- the requirements of your medical association or regulatory body.
Medical malpractice insurance policies offer limits of indemnity ranging from R1 million to R50 million or more. However, it is important to note that higher limits of indemnity may be required for certain specialties or practices, such as obstetrics or neurosurgery.
To determine the appropriate limit of indemnity for your specific needs, it is recommended that you consult with a licensed insurance broker who specializes in medical malpractice insurance. They can help you assess your risks and find the right coverage and limits to meet your needs.
It is also important to consider that the cost of a medical malpractice insurance policy may increase with higher limits of indemnity. Therefore, it is important to balance your coverage needs with your budget to find a policy that provides adequate protection without breaking the bank.
Subscribe now
Share this article
Read More
More Articles
Road Accident Fund (RAF) Surety Bonds
At Shackleton Risk Management, we can assist you with surety bonds for RAF matters. Surety bonds for RAF matters are provided by Safire Insurance Company Limited (“the Insurer”) and can be lodged by us with the Master on your behalf if needed. Trustees appointed to manage a trust must furnish security to the Master’s satisfaction.…
Do Builders Need Professional Indemnity Insurance in South Africa?
Professional indemnity insurance (PII) serves as a protective measure against claims of professional negligence, errors, or omissions in services rendered. It provides financial coverage for legal costs and compensation payments arising from such claims, ensuring builders are safeguarded against potential liabilities. Legal Requirements and Industry Standards: Unlike certain professions where professional indemnity insurance is mandated…
Understanding the Distinction Between Public Liability vs Professional Indemnity Insurance in South Africa
What Is Public Liability Insurance: Public liability insurance safeguards businesses and professionals against claims for injury or property damage caused to third parties while on their premises or as a result of their operations. It covers legal costs and compensation payments if a third party sues for bodily injury or property damage incurred due to…