Describe the following types of insurance: a. liability, b. malpractice, and c. personal injury. Discuss with...

Describe the following types of insurance: a. liability, b. malpractice, and c. personal injury. Discuss with your classmates why a medical professional would want to purchase these types of insurance.

Expert Solution

Liability insurance is a kind of general insurance in which the insurer covers all the claims caused by injuries and provides protection against damage to people or property. This type of insurance covers all the legal costs and payouts that the insured is eligible for. However, claims against intentional injury or damage, contractual liabilities, and criminal prosecution are not entertained under Liability Insurance.

When we talk about malpractice insurance, it is designed as a type of liability insurance for healthcare professionals. When a client file a lawsuit against any healthcare personal for the harms that occurred due to medical negligence and caused any serious health issue or even death, this insurance protects the healthcare personal from most of the expenses required to defend and settle the malpractice suits and covers cost like Attorneys' fees and court costs.

Personal injury insurance which is more commonly known as Personal accident insurance entertain claims when the insured party suffers from some serious injury or death due to an accident and protects them and their family against the loss of income, and compensate for all the related bills and other expenses.

Nightingale answered 4 months ago

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