A new medical malpractice insurance scheme has been launched in Shenzhen, China. The liability insurance scheme covers doctors that are found responsible in medical mishaps.
The insurance is available to doctors on a voluntary basis and is applicable for medical malpractice claims all over mainland China.
Wang Tianxing, chief of the Shenzhen Medical Doctor Association, said that the insurance will help reduce the financial burden on doctors and help develop the medical sector. The amount of money doctors need to pay for medical accidents can reach up to RMB100,000 (US$15,900).
Because of the threat of a major malpractice suit, many doctors are reluctant to try new treatments, said Wang, who added that having insurance allows doctors to focus more on technical improvement.
The insurance can also ease tensions between doctors and patients.
“Disputes normally occur when the two parties cannot reach agreement on compensation,” Wang told China Daily. “Now, medical accidents will be dealt with by a third-party organization. It’s like a buffer zone being set up between the two sides.”
The product is being offered jointly by five insurers, including major players Ping An Insurance and China Pacific Life Insurance. The firms will share the scheme profits and costs. Sums insured range from RMB300,000 to RMB4 million (US$47,600 to US$635,000) per year, while the premiums are based on the doctor’s specialty and position.
Obstetrics, anesthesiology and plastic surgery are among those that have the highest risk factor, so premiums for doctors in those fields are likely to be higher.
