Medical Professional Liability Insurance
Medical malpractice insurance is one of the most important insurance purchasing decisions a physician will make. You’ve devoted countless years of your life to master your craft and now it’s up to you to protect that investment with the right medical malpractice insurance for your unique and specific needs.
We have devoted many years to our craft, too. For the past 80 years we’ve dedicated ourselves to the art of providing physician’s insurance to medical professionals in the states of New Jersey, Connecticut, Delaware, Maryland, and Pennsylvania.
This dedication is why we carry the wide range of products available to help physicians, like you, get the quality insurance coverage you need – even if you’ve been canceled, had claims filed against you, or are facing non-renewal.
Who Needs Physician’s Insurance?
In today’s litigious society, medical malpractice coverage for physicians is a necessity and not at all optional. It is the single most important investment you’ll make for your future as a physician and to protect your personal assets and practice from the financial costs of a malpractice claim. It’s equally important whether your insurance is non-renewed, cancelled, or you have claims.
Physicians in all fields of medicine need medical professional insurance coverage, including:
- Ear, Nose, and Throat Doctors
- General Practitioners
This is only the beginning though. All medical professionals should have insurance for themselves and their practices.
Important Considerations When Buying Medical Malpractice Insurance
There are many things you need to keep in mind as you explore your insurance options. If you fail to get the right kind of insurance coverage, you may leave yourself vulnerable to certain types of claims.
One way to avoid this is to work with an agency that puts your needs first and offers a wider range of insurance products, like Professional Protective Alliance. The other thing you need to do is to educate yourself about what your insurance needs are and to make sure you purchase a policy that meets them.
Claims-made vs. Occurrence Policies
A claims-made policy is a more commonly available policy for physicians. It covers claims for events that take place while the policy is in effect and that are reported during that time period.
Occurrence policies, on the other hand, cover events that occur while you are covered by the policy. It doesn’t matter when the claim is reported. It is difficult to find policies that offer this kind of coverage today because the nature of “future” claims is so unpredictable.
Consent to Settle
This is probably the second most important thing to ensure with the policy you purchase. Because it’s so much more than just your finances on the line when it comes to settling a malpractice claim against you.
It’s your reputation and the reputation of your medical practice on the line too. That’s why it’s important to look for a policy that will not settle without your consent (and imposes no penalty to you for refusing consent).
Medicare and Medicaid Fraud and Abuse Coverage
Uncle Sam is crunching numbers a little more carefully these days and that means he’s taking a closer look at Medicare and Medicaid claims in an effort to cut costs and pinch pennies.
What this means for physicians is that mistakes in record keeping and failure to follow rules results in expensive investigations, legal fees, fines, and penalties this policy covers.
Why Professional Protective Alliance?
Professional Protective Alliance has dedicated the past 80 years to providing outstanding and personal service to medical professionals in the region when it comes to identifying insurance needs and meeting them.
Let our experience work in your favor as you explore your coverage options to find the plan that best meets your overall medical malpractice needs and see how we can go above and beyond what other agencies have to offer.
Call Professional Protective Alliance today for a personalized assessment of your physician’s insurance needs.
“Choosing insurance is a tremendous responsibility, and we are delighted to assist in that process. We consider your needs personally, and intelligently.”