National Insurance Company Limited (A Subsidiary Of General Insurance

national insurance company limited (a subsidiary of general insurance corporation of india) professional indemnity insurance for doc

National Insurance Company Limited
(A Subsidiary Of General Insurance Corporation Of India)
Professional Indemnity Insurance for Doctors
Salient Feature 1
Scope of Cover 1
Exclusions 1
Special Benefits 1
Meaning of AOA : AOY 2
Main Exclusions 2
Indicative Premium Rate 2
Salient Feature
===============
This insurance covers legal liability arising from errors and
omissions on the part of Registered Medical Practitioners while
rendering professional service.
Top
Scope of Cover
==============
The policy indemnifies any act committed by the insured, who shall be
a Registered Medical Practitioner, giving rise to any legal liability
to Third Parties. The insured includes the policyholder and his
qualified assistants or employees as named in the proposal form.
It applies to claims arising out of bodily injury and/or death of any
patient caused by or alleged to have been caused by error, omission or
negligence in professional service rendered or which should have been
rendered by the insured or qualified assistants named in the schedule
or any nurse or technician employed by the insured.
a) Legal liability as fixed by courts in India to pay compensation.
b) Defence costs and expenses. This means all costs, fees and expenses
incurred with the prior consent of the insurer in the investigation,
defence or settlement of any claim made against the insured, provided
the claim falls within the ambit of the policy.
The amount of payment under (a) and (b) will not exceed the amount
insured for in the policy under the limit of Any One Accident (AOA) in
respect of any or all claims made against the insured arising out of
Any One Accident.
Top
Exclusions
==========
a. Third party public liability.
b. Fines, penalties, punitive or exemplary damages.
c. Any loss of financial nature like loss of goodwill, loss of market
etc.
d. Liability, if any, assumed by agreement and which would not have
attached if not for the agreement.
Top
Special Benefits
================
1. Retroactive Benefit
This means that the insured will be covered for any professional act
or omission occurring during the period of insurance, which means the
first date of the first policy, provided that the policy is renewed
without interruption and is in force when the claim arising out of the
act or omission is made in writing against the insured during the
poiicy period. Policy period means the period incepting from the date
and hour mentioned in the policy schedule and terminating at midnight
on the expiry date indicated in the policy schedule.
2. Notification Extension Clause
If the insured notifies during the policy period any specific event or
circumstance which the insurer accepts may give rise to a claim, then
the acceptance of such notification means that the insurer will deal
with the claim as if it has been made during the policy period.
3. Extended Claim Reporting Clause
In the event of non-renewal or cancellation of the policy, the Insurer
will allow a time limit up to 90 days, provided another policy does
not exist, for notification of claims for accidents which had taken
place during the period of insurance.
Top
Meaning of AOA : AOY
====================
AOA means Any One Accident, which may include one or more, or a series
of claims arising out of the same cause or error or omission relating
to professional service. AOY means Any One Year. The Insured can
choose an indemnity limit which can be in the ratio 1 ;1, :2,1:3,1:4
of AOA : AOY and the premium will be charged on AOY limit.
Top
Main Exclusions
===============
1. Liability arising from any criminal act or act in violation of any
law or ordinance.
2. Services rendered under the influence of intoxicants or narcotics.
3. Dental treatment under general anaesthesia except in a hospital.
4. The use of drugs for weight reduction.
5. Plastic surgery except for repair of scar being the result of
previous surgery, or in connection with burns or other traumatic
injury.
6. AIDS related conditions.
7. Due to intentional non-compliance of statutory provisions.
8. Personal injuries such as libel, false arrest, defamation, mental
injury, shock etc.
9. Genetic injuries caused by x-ray and radioactive substances.
10. Caused by intentional disregard of technical or administrative
management of the need to take ail care to prevent claims.
11. Liability to employees/apprentices/contractors/genera! third party
public.
Top
Important Conditions
1. Early written notice of any claim to the insurer. Sending of any
claim, writ, summons or process and ail documents to the Insurer.
2. No admission offer promise or payment to be made without the
consent of the Insurer.
3. The Insurer has the right to take over and conduct in the name of
the Insured, the defence/settlement of the claim.
4. The Insured shall give all such information and assistance as the
company may reasonably require.
5. No short period policy is permitted i.e. all policies will be for
12 months.
Top
Indicative Premium Rate
=======================
Varies between 0.30 per thousand rupees and 3.00 per thousand rupees
depending upon (a) Category of Doctor and (b) AOA : AOY ratio chosen.
Top