Physicians save lives and assist people with the treatment they provide. However, patients who feel they are victims of medical mistakes and errors or low quality care sometimes file lawsuits against physicians, who therefore need to be covered by medical malpractice insurance. Medical malpractice insurance policies do not cover all types of medical mistakes and
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How medical malpractice insurance liability limits vary from state to state
Medical malpractice insurance offers financial protection to physicians and others in the medical profession when medical errors occur. Similar to other forms of insurance, medical malpractice insurance policies often include liability limits that cap the amount that insurance providers pay out in claims for insured parties during any given period. Liability limits vary from state
READ MOREWhat is the medical malpractice insurance pool and who needs it?
Medical malpractice insurance is a must-have for any health care provider, but what happens when you can’t qualify for this necessary insurance due to a history of malpractice claims? With some of the highest rates of medical malpractice claims in the country, New York state health care providers are at a much greater risk of
READ MOREWhat’s the deal with medical malpractice insurance Risk Retention Groups?
Over the past few years, economic and regulatory forces have incentivized some health care providers to employ more financially austere measures to lower operating costs. Medical malpractice insurance risk retention groups cater to these individuals and organizations. Thanks to lower capital requirements and less regulations at the state level, risk retention groups are able to
READ MOREWhat Are Captive Medical Malpractice Insurance Companies?
Medical malpractice insurance is essential for protecting a medical provider’s career and assets, but skyrocketing premiums or one-size-fits-all plans can leave practitioners worried about their bottom lines. To fix this problem, an increasing number of practitioners are turning to captive medical malpractice insurance companies, which let doctors create customized plans while protecting their assets and
READ MOREEvaluating the wording of a medical malpractice insurance policy
Malpractice insurance terminology is often daunting, even for seasoned medical professionals. If you’ve ever wished for a cheat sheet to help you parse a medical malpractice insurance policy, you’re in luck. Here we discuss common terms, red flags and types of malpractice policies to help you make informed decisions about your coverage options. Does the
READ MOREWhy a lump sum disability policy is a good idea for physicians
You’re at the pinnacle of your career as one of the best physicians in your area and your field of expertise, and your bustling practice treats plenty of patients who keep your doctor’s office busy every day. Then, out of nowhere, a car accident or other disaster leaves you unable to perform your most basic
READ MOREHow to decide what kind of medical malpractice insurance policy is right for you
Choosing your medical malpractice policy may seem dull, but it can be one of the most important career decisions you make. When even frivolous lawsuits can cost tens of thousands of dollars to defend yourself against malpractice suits, and awards can cost you even more staggering sums, insurance is an essential factor in your financial
READ MOREIs There a Medical Malpractice Crisis in the U.S.?
The Washington Post recently published an article titled, “Top Republicans say there’s a medical malpractice crisis. Experts say there isn’t.” This is an old, ongoing debate, and depending on who you listen to, we’re either in a crisis that is driving up the cost of medical malpractice insurance, forcing providers to practice defensive medicine, and
READ MOREKnow Your Limits: Understanding Medical Malpractice Coverage Limits
Premium prices are always important when deciding on medical malpractice insurance, but have you also considered your policy’s coverage limits? The coverage limit is the part of your policy that states the maximum dollar amount that your insurance company is willing to cover in losses. It is important to consider these limits when choosing a
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