What does it cost to defend a malpractice claim?

A question that comes up regularly is that of “defense” costs. Ask any person involved in an insurance claim that required a defense attorney how much the insurance company spent defending your case, and I doubt you will find anybody who knows know the true cost. [More]

When and Why to Shop for Malpractice Insurance

The question I get from my existing client base on a yearly basis is "why do we shop for malpractice insurance and when do we shop?" I’ve developed what I think is the best way to approach this question. [More]

The never-ending issues of “tail coverage”

If you’re a physician purchasing tail coverage or a physician who is changing the carrier you’re insured with, you should be reading this. Fully understanding how your tail coverage works and the intricacies behind it, from a coverage standpoint, should be fully understood by you or by the person helping you (your broker). I’ll give two examples about what I’m referring to and why it’s important. [More]

Why shopping for tail coverage matters in today’s malpractice insurance marketplace

So you have to purchase “malpractice tail coverage”
The medical malpractice insurance marketplace continues to evolve as more regulations and government oversights place more pressure on traditional medical practices to evolve, join a larger group practice, or sell out to the local hospital system. Although this issue brings up a number of items to potentially dive into, the one I would like to focus on today is the question I most often receive from my clients: “What about my tail coverage?” With the changing healthcare landscape, insurance companies have begun to develop more “product offerings” to increase their revenue capturing opportunities. Not only are they looking to capture more revenue opportunities, but they are also beginning to think creatively rather than staying within the antiquated mindset that carriers have traditionally shown in the malpractice insurance marketplace. [More]

Using a Medical Malpractice Insurance Agent and Why It’s a Necessity

Chances are that at some point in time you have purchased an insurance product through an online system. Or you have called the carrier directly and have gotten a quote over the phone. You probably thought, “Hey, it’s easy,” “I don’t have to worry about sales calls,” “This site tells me that it’s less expensive if I apply online,” or “It’s the quickest way to get coverage.” While some of those statements may be correct, people tend to make major mistakes when dealing directly with insurance carriers and not using a broker. The items below reference the downside of not having an agent in the numbered sections. The remaining content is about what you receive in having your own agent. [More]