Many insurance carriers offer deductibles on medical malpractice insurance policies in today’s market. Many doctors may not realize that there is more to a deductible than just the dollar amount. Many policies do not carry a deductible, but it is almost always an option. Generally speaking deductibles can be $2,500, $5,000, $10,000 or even more. Deductibles on
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2011 is Here – It is Time to Review Your Medical Malpractice Insurance Coverage
This is a phrase I find myself using on a regular basis as I go through my daily life. Does it apply to your practice? Many of the physicians that I meet proudly proclaim that they “have coverage” and are “happy with their broker.” The one response or question that I have for them is
READ MOREAbbreviated Buyer’s Guide to Physician Medical Malpractice Insurance
The modern medical malpractice insurance marketplace can be filled with questions, confusion and sometimes apprehension. For many doctors, it is very difficult to navigate alone. Understandably, physicians would rather spend their time learning more about their specialty and growing their practice than becoming experts in the expansive and ever-changing world medical malpractice insurance. It is
READ MOREDon’t Know Your Tail from Your Nose?
Many physicians and office administrators are confused by the terminology used by medical malpractice insurance brokers, and why shouldn’t they be? Most fields have an insider’s lingo used by people that work in the industry. However, the medical malpractice insurance business seems to expect everyone in the healthcare world to understand and crack our secret codes. Believe
READ MOREThe Limits and Upper Limits of Medical Malpractice Insurance Coverage in New York
Many doctors seem to have questions regarding the limits of liability that they need to carry for their medical liability insurance while practicing in New York. Simply put, if a doc has hospital admitting privileges in a hospital in New York, he or she needs to carry $1.3m/$3.9m limits. If they do not have admitting
READ MORETax Extenders Signed into Law
The Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 has been signed into law. Physicians, Surgeons and other high net worth individuals had been on the edge of their seats, knowing that if the Act had not been signed, tax rates could rise significantly in the New Year. However, this Act extends
READ MOREWho Does My Malpractice Lawyer Represent?
Does My Attorney Represent Me or My Malpractice Insurance Company? Great question! This issue has been debated in some form for as long as I have practiced in this area (over 20 years), and in each state where I have practiced. It is a fair assumption that this debate began well before I became a member
READ MORECorporation Entity Coverage Exposure
To Cover or Not to Cover? Many physicians and surgeons practice under the protection of a corporation or entity and many don’t realize the importance of insuring that corporation or entity. In a lawsuit, plaintiff attorneys will, in their discovery process, find information on a doctors corporation. This could lead to a lawsuit naming that
READ MOREThe Factors of Medical Malpractice Insurance Coverage
As a broker of medical malpractice insurance for physicians, we are often asked how the Medical Malpractice insurance carriers calculate the cost of a med mal policy. The truth is, every physician is individually underwritten and there are many factors that go into the equation. Following are a few of the most important factors that
READ MOREMedical Liability Insurance Risk Management – Communication After An Adverse Outcome
Does the “Sorry Works” Legislation Work? You probably have heard of “Sorry Works” legislation by now in reference to medical malpractice. It has been floating around legislative assemblies with some notoriety since 2005 in an effort to help reduce the cost of medical liability insurance for physicians. Also known as “apology laws,” the Sorry Works legislation
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