INSURANCE is a necessity in daily life in this sophisticated world Life insurance automobile insurance health insurance disability insurance home owner`s insurance ete.. there are so many kind of insurance to protect you from unexpected mishaps or disasters In medical paractice there can not be exception and professional liability insurance (Malpractice insurance)is an essential necessity in medical practice whether you are in private practice or working for institution such as university medical center In may parts of the world malpractice insurance and mediating agencies such as patient compensation panels do not exist In these countries it is not uncommon to see a big headline in the newspaper that physicians accused of malpractiec by the patients arrested and indicted with unfounded accsations Mediating organiztions provied benefits for the physician patient and society in general These agencies or panels are usually composed of members with the expertise to determine the merit of the claims filed These organizations make possible for the physician to practice medicine without unjust interference from disgruntled patients and to reder his professional service to society