General surgeons are medical specialists who focus on surgery involving the abdomen, such as the esophagus, stomach, liver, pancreas, appendix, and gallbladder. There are many subspecialties to general surgery, including hand surgery and pediatric surgery.
Approximately 85% of all general surgeons face medical malpractice claims. More than fifteen percent of them face a claim each year. Research shows that of those claims, 4.2% result in damages. For surgeons, the median indemnity payment is about $178,000 and the mean is over $290,000.
Furthermore, the advancement of surgical technology in recent years and in the future has led to more responsibility and thus liability on the part of general surgeons. Thus, an important part of being a general surgeon with such inherent high risk is pursuing extensive protection from medical malpractice claims.v
Malpractice insurance on average costs from $25,000 to $70,000 each year for surgeons. This covers all legal fees. Insurers can also individualize their policies for the needs and circumstances of each surgeon.
Insurance costs are influenced by the specialty of the general surgeon, namely the type of procedures the surgeon performs. There are many other factors, such as:
Claims-made and occurrence coverage are the two options of malpractice insurance. Claims-made policies only protect against claims that occur and were filed during the time the policy is active. Claims-made policies with additional "tail coverage" include protection for an amount of time after the policy ends. Occurrence policies protect against malpractice claims that occur during the time the policy is active, even if they are filed after the policy has been discontinued. It is important that general surgeons also have individual insurance in addition to an employer's policy to ensure full protection against malpractice claims.
Capson offers malpractice insurance to general surgeons across the United States. If you need to set up your practice with insurance, contact us now to get your fast, no-obligation insurance quote. We are dedicated to providing quality insurance with low premiums to caring people who are exemplary doctors.