Professional liability insurance for doctors. What you need to know.
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AT A GLANCE
Have you fulfilled your dream of setting up your own medical practice? That's a great achievement, but also a great responsibility. Whether you're a GP, a vet or a dentist – as a self-employed medical professional with your own practice, you are liable with your private assets in the event of a claim. Treatment mistakes and misdiagnoses can therefore have serious consequences. To minimise your personal and financial risk, professional liability insurance is compulsory. We explain why this insurance is so important for doctors and what it covers.
Is professional liability insurance compulsory for doctors in Switzerland?
Professional liability insurance is a legal requirement for self-employed doctors in Switzerland. This requirement applies to doctors who run their own practice or are self-employed – i.e. who work under their own professional responsibility.
Affiliated doctors ("Belegärzte") working at a hospital also need this type of cover. By contrast, doctors who are employed in a practice or hospital are insured via their employer.
GOOD TO KNOW
In many cantons, e.g. Zurich, Bern and Vaud, proof of insurance is actually a prerequisite for obtaining a medical licence.
What does professional liability insurance cover for doctors?
Professional liability insurance covers doctors against the financial consequences of mistakes they make in the course of their work – be it through incorrect treatment, errors in reports or failure to provide information. Alongside personal injury and property damage, it also covers financial losses.
What exactly is insured?
The insurance covers statutory liability claims that arise in connection with the insured person's work as a doctor, in relation to errors caused by carelessness or minor negligence. It comes into play when patients or other third parties claim damages.
The insurance also covers all practice staff and deputies. In addition to the doctor's medical practice, some insurers cover emergency medical assistance, the issuing of prescriptions and the provision of treatments that are not medically indicated as well.
GOOD TO KNOW
A requirement for cover is that the risks are named in the contract and are not explicitly excluded. You should therefore check your policy carefully.
Which claims are insured?
The insurance covers statutory liability claims in respect of:
- Personal injury: e.g. due to misdiagnosis or treatment mistakes
- Property damage: i.e. when somebody else's property is damaged as a result of your work as a doctor
- Financial losses: e.g. when errors in reports or delayed recovery processes lead to financial disadvantages, even if no personal injury or property damage has occurred
Which risks are insured?
Professional liability insurance covers both risks that occur in the course of your core medical work – for example, mistakes in diagnosis or treatment or incorrect advice – and business risks. Specifically, the insurance cover encompasses the following risks:
- Investment risk: the risk of becoming liable through the ownership or tenure (e.g. renting or leasing) of land plots, buildings, premises and other sites and facilities
- Operational risk: the risk of becoming liable as a result of operational processes in the medical practice
- Product risk: the risk of becoming liable through the sale of products (e.g. medicines that come onto the market)
- Environmental risk: the risk of becoming liable for environmental damage arising from investment, operational and product risks
How much does professional liability insurance for doctors cost?
The premiums for professional liability insurance depend on various factors. Above all, these include the scope of the cover provided, the sum insured, the deductible and any supplementary cover, such as legal protection in criminal and administrative proceedings or waiver of recourse or reduction in benefits due to gross negligence. The doctor's medical specialism and individual risk profile also affect the amount of the premium.
Want to find out the exact figure? Then arrange a personal consultation with our experts.
Which other types of insurance are recommended for doctors?
Professional liability cover is the core safeguard for every doctor – however, comprehensive insurance coverage goes much further than that. A good level of protection is essential for you to be able to concentrate fully on your work with your patients.
Here are some other important insurance policies for doctors:
- Occupational benefits insurance and accident insurance are required by law for practice owners with employees. They cover your employees' retirement provision as well as risks such as accident, disability and death. Self-employed doctors without staff can use voluntary solutions to obtain comprehensive coverage for themselves.
- Cyber risk and property insurance in case sensitive data is lost or equipment gets damaged.
- Legal protection insurance, which will help you out legally and financially in the event of disputes with patients, employees or authorities.
Want to know more? Our guide to insurance for doctors provides a good overview.
Comprehensive cover for your work as a doctor: professional liability insurance from Allianz
If you are a self-employed doctor, professional liability insurance will protect you and your practice against the biggest financial risks. Allianz professional liability insurance also offers the following add-ons:
- Emergency medical work worldwide
- Secondary professional activities in the medical field, e.g. as a public health officer, lecturer, assessor, examiner or club doctor
- Losses in connection with telemedical and video-based medical consultations and treatment
- Claims in connection with damage to, loss or destruction of laboratory samples and patient files
- Personal injury, property damage and financial losses as a consequence of a cyber event, such as the theft of sensitive data
Further advantages of our insurance solution include:
- Comprehensive personalised advice and systematic risk assessment
- Easy policy conclusion process without a duty of declaration
- Rapid claims processing by experienced specialists
- Different cover packages individually tailored to your practice's needs
- Extensions of cover with add-ons such as waiver of recourse or reduction in benefits in the event of gross negligence
Would you like a personal quote? Our advisors will be happy to help you.
Frequently asked questions and answers
No, employed doctors, medical practice assistants and other employees such as cleaners are covered by their employer's insurance, regardless of whether they work at a hospital or in a doctor's practice.
Since claims for damages can easily run into very high amounts, we recommend a sum insured of at least 5 to 10 million francs.
As a fundamental rule, professional liability insurance only covers claims from doctors practising in Switzerland. However, medical work performed in an emergency is an exception. If you are on holiday in the US and provide direct medical assistance to someone in the immediate aftermath of an accident, for example, the insurance also covers claims by aggrieved parties that are brought under US or Canadian law.
Only minor treatments that are not medically indicated, such as Botox injections, are insured. A requirement for coverage is that the insured person has appropriate training for these activities. Other aesthetic procedures, such as liposuction, cosmetic breast surgery, facelifts and nose, ear, eyelid and chin corrections, are not insured.
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The optimal insurance for you? Let's find out during a personal appointment.
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