In this assignment, you will consider liability in the context of liability insurance. To get started, go online and follow these steps to navigate to an article on malpractice insurance:
Go to www.ncbi.nlm.nih.gov (Links to an external site.)
In the dropdown menu to the left of the Search window, select PMC.
Enter the following article number into the Search window:
Click the Search button. In the results, look for a link titled “Malpractice Insurance: What You Need to Know.”
Read through the article, and then write a response to each of the following questions:
After reviewing the article regarding physician’s liability insurance, describe how claims-made and occurrence-based policies differ. Which type of policy might a doctor who has been in practice for 20 years at three different organizations prefer? Why?
Why might a “consent to settle” clause be a good thing for a doctor (or other profession) to agree to in an insurance liability contract? What might be bad about this clause?
What is your opinion about caps on medical malpractice liability awards? (The article mentions that some states cap these awards, making the insurance for doctors practicing in those states cheaper than for doctors in other states.) Would you prefer going to a doctor where caps exist, or where they do not exist? Why?
Your response should be one to two paragraphs in length.