Policyholder vs. Insured
Upon graduating from residency, a doctor will have many different practice opportunities. When a doctor is joining a medical group, the medical professional is more than likely not going to be making decisions about what healthcare professional liability insurance protects them. While they may not be a decision maker in the insurance purchase process, the provider will be added as an insured.What is a “policyholder”?
A policyholder is the person who is the first named insured on policy documents. As an example, if there is a medical group named “ABC Medical Group” and they have 10 doctors: ABC Medical Group is the policyholder, and the 10 doctors are endorsed on the policy as insureds.
What is an “insured”?
An insured is a person or entity protected under an insurance contract. Insureds may also be added by definitions provided in a policy form.
Why do I need medical malpractice insurance?
If an insured is sued for medical negligence, this coverage will most likely apply. Other things this kind of insurance may cover include assistance with: