Medical Testing and COVID Lab Liability Insurance

January 04, 2022

Liability Insurance for Medical Testing Labs

More and more Medical Testing Labs are being asked to participate to resolve this global crisis. Those labs require Medical Professional and General Liability Insurance.

The Doctors Insurance Agency works with Medical Testing Lab clients to provide liability protection for their medical testing operations, which in the past two years have included COVID testing. 

COVID has increased premiums across the board. Clinical telemedical facilities and medical testing labs are all paying more because of the new taxonomy of malpractice claims that is a result of the pandemic. 

Recently the minimum premiums have come down below $10,000. The Lab Medical Malpractice Insurance markets have priced labs doing COVID testing between $7,500 and $12,000.

The insurance markets fluctuate like financial markets, so these prices may go down. Whether your lab is accepting  specimens from outside the state or whether it's limited to local / in person testing or at-home, self-administered test kits, the lab professional liability policy covers the owners and the entity.

We can also provide additional insured endorsements to cover landlords and all professionals and technicians involved in processing COVID tests. 

For employers, governments and physicians, COVID brings uncertainty. We've seen unprecedented claims alleging medical injury, negligence, or unmet expectations.

COVID medical liability claims come in three forms:

  1. Those with COVID that present to an overwhelmed emergency medical system and experience pain, permanent injury or death. Their loved ones, families and estates are presenting lawsuits against the health care systems and providers.
  1. Those who are not sick but continue to experience delayed and deferred health care, which in turn can cause delayed diagnosis of an advanced illness, resulting in lawsuits against their providers and healthcare systems for failing to meet their duty of care.
  1. Those who were not sick but came to the doctor for routine medical attention or were transported to hospitals because of emergency conditions unrelated to COVID and ended up contracting the virus.

These types of COVID claims have disrupted the previously stable Medical Professional Liability industry.            

 As a result, premiums that were set at $3500 as a minimum have adjusted to $5000, $5000 has been adjusted to $7500, $7500  up to $10,000, and so on. If you are a medical testing lab owner, executive or employee, 

 The Doctors Insurance Agency looks forward to working with you to bring to you the benefit of our knowledge and expertise in this specialized niche of liability insurance.