Dr. Jackson has been a doctor for sixteen years, and has had his own practice for three years. He has patients every day and is successfully running his practice. One day, Dr. Jackson suffers a headache but pushes through his day seeing as he only had one more patient to see. He treated the patient and went about his day.
The next week, the patient came back with a lot of side effects from the medication he prescribed. He took another look at the medication and noticed he wrote down the incorrect dosage. By this point, the patient had already taken all of the medication and is left with long-term health issues as a result of the incorrect prescription.
This has never happened to Dr. Jackson, but now he has to suffer the consequences of the small mistake he made when he had a migraine.
The patient was understandably upset and decided to take legal action against the original doctor for medical malpractice. Because it was his mistake, Dr. Jackson has to pay the patient compensation for their suffering. Dr. Jackson couldn’t afford the large sum of money, and he had to close down his practice. If Dr. Jackson had E&O insurance, he would’ve had financial support to cover these costs, and he wouldn’t have had to close his business.
Errors and Omissions Liability Insurance (E&O), also referred to as malpractice insurance, secures individuals and businesses in case of mistakes or negligence when providing professional services. E&O insurance can vary depending on the policy and the profession of the insured. It’s important to note that E&O is not a one-size-fits-all solution, but here at SOGO we can help you determine the appropriate coverage for your specific needs.