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Protection for the medical profession Insurance for doctors

Comprehensive coverage for your medical occupation
Financial protection against liability cases
Individual insurance and retirement solutions
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Key points at a glance
  • Comprehensive coverage for doctors: Working in the medical profession involves a number of risks – from improper treatment to liability claims. Individually tailored insurance coverage will safeguard you financially. 
  • Mandatory and supplemental insurance: While some policies are prescribed by law, others provide additional protection, such as against cyber attacks or legal protection cases. 
  • Financial stability and retirement planning: In addition to protection against unexpected costs, it’s important to start saving early for retirement to avoid financial difficulties. Comprehensive coverage for doctors can help you with this. 
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Insurance doctors should have

Whether you are self-employed or the head of a medical practice, the right insurance depends on your particular business. While self-employed doctors are not required by law to have insurance, it’s still a good idea to insure yourself against financial risks. Professional liability insurance and daily sickness benefits insurance are very highly recommended.

Medical practices with employees are required by law to have mandatory accident insurance for their employees. Cyber insurance is also important to have in order to minimize business risks. We’ve put together a list of the insurance that’s right for your business:

Professional liability insurance

The medical profession requires extreme precision and the utmost responsibility. Even so, mistakes cannot be ruled out. A misdiagnosis or an error in treatment can have grave consequences for patients. This is why self-employed doctors in Switzerland are required by law to have professional liability insurance. It covers claims for damages and helps minimize financial risks. 

Accident insurance and supplemental accident insurance

Whether an injury occurs because of an incision with a scalpel, a needlestick or a fall in the doctor’s office, accidents are part of routine medical care. Employers are required to insure their employees against accidents in the workplace. Government-mandated accident insurance covers occupational and non-occupational accidents.  Supplemental accident insurance also insures higher salaries and provides additional benefits to ensure comprehensive protection. Accident insurance is also a good idea for self-employed doctors so they can insure themselves against a loss of income. 

Daily sickness benefits insurance

A lengthy absence due to illness can result in substantial financial strain for doctors and their practice. Daily sickness benefits insurance provides a secure income during an illness so that no financial difficulties arise. This coverage is essential for individual practices or smaller teams in particular. 

Cyber insurance and services

Patient data must be especially well protected. At the same time, the risk of cyber attacks aimed at medical establishments is on the rise. Cyber insurance for doctors covers financial losses that are caused by data protection violations or hacker attacks. It pays for the costs of IT security experts, data recovery and potential claims for damages to get the practice back up and running as quickly as possible. 

Commercial legal protection insurance

Not only do medical errors or cyber attacks involve risks, legal disputes within the practice can also become expensive. Whether you have disputes with patients, labor conflicts or problems with suppliers, commercial legal protection helps safeguard your interests and avoids financial strain due to attorney fees and court costs.  Legal protection insurance  provides additional support to doctors involved in legal disputes, taking the pressure off them so they can secure their business.

Property insurance

As a doctor, you shoulder a great deal of responsibility – not only for your patients, but also for your practice. Your medical facility is more than just a workplace. It’s a highly specialized environment with expensive technical equipment, sensitive data and proven processes that can save lives. An accident can not only be costly, it can also lead to lengthy business interruptions. This is why property insurance is strongly recommended for doctors.

Claim scenario

A doctor prescribes a medication although she should be aware that the patient cannot tolerate it. The patient has an allergic reaction and needs to be taken to the hospital.  The medical bills start piling up and the patient misses several days of work. The health insurer pays for the patient’s medical bills but then submits them to the doctor for reimbursement. The doctor’s liability insurance pays the patient’s medical bills and loss of income.

Retirement solutions for doctors

In addition to protecting against risks, doctors must start saving for retirement as early as possible. Careful retirement planning offers financial stability – while you’re still working and after you retire. This is divided into two main options: 

Occupational benefits

As soon as a medical practice hires its first employees, it is required to offer them Pillar 2 pension fund solutions. This basic coverage can be enhanced in a targeted fashion through additional offers. 

The following applies to self-employed doctors: If your practice is a sole proprietorship, enrollment in Pillar 2 is voluntary for you. If you own a GmbH or AG and draw a salary, you are required to be insured. 

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    Pension solutions for companies

    Learn more about the retirement planning options for medical practices and find your ideal solution.

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Private pensions

Pillar 3 private pensions enable doctors to build wealth for their retirement as an addition to Pillars 1 and 2. It’s divided into two alternatives:

  • Pillar 3a: Tax-advantaged savings solutions with fixed terms until retirement. This is a smart way to enhance occupational benefits for the self-employed in particular.
  • Pillar 3b: Flexible savings and investment options without legal restrictions, ideal for supplementing individual retirement plans.

Summary: What insurance should doctors have?

What insurance you need depends on what you do and your type of position. While self-employed doctors are free to choose their insurance, practices with employees are required by law to have certain insurances.

Insurance for self-employed doctors

  • Recommended: Professional liability insurance, mandatory and supplemental accident insurance, daily sickness benefits insurance, cyber insurance, commercial legal protection insurance, property insurance 

Insurance for medical practices with employees

  • Mandatory: statutory accident insurance
  • Recommended: Supplemental accident insurance, daily sickness benefits insurance, cyber insurance, commercial legal protection insurance, property insurance 

Tailored insurance coverage protects against financial risks and gives you peace of mind. Our advisors will be happy to help.

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