Professional Liability for Medical Laboratories

Medical laboratories professional liability insurance is also known as malpractice insurance coverage. This insurance helps protect you from suffering severe financial hardships when allegations of mistakes are brought against your company. Even if you are not at fault for the claims made against your company, you will still have to spend a lot of time and money to legally defend yourself.

For example, many companies require employees to be drug tested regularly. If your lab makes a mistake in processing and gets a false positive result, the company may fire their employee for drug use. That person may sue your company for losses in wages, pain and suffering, reputation damages and more. Medical laboratories professional liability helps protect your company from lawsuits of this sort.

Depending upon the level of coverage you choose, your medical laboratories professional liability policy will pay for the legal expenses that arise when lawsuits are filed. If applicable, it can also pay for legal judgments, settlements and awards.