Medical Malpractice Insurance

Most states require physicians and licensed healthcare facilities to maintain professional liability insurance. It is highly recommended this critical protection be purchased even in states that do not require it.

One way to consider if you need to buy malpractice insurance is by understanding the needs of your organization and staff. Healthcare facilities including clinics, hospitals, and private medical practices should have malpractice insurance.

In short, yes. Med mal policies for registered nurses, also known as nurse practitioner malpractice insurance, can be affordable and it provides a layer of protection above your employer’s policy.

Depending on the specific needs of your practice, the cost of medical malpractice coverage will vary. There are many considerations in terms of coverage and it is important to understand your options.

Medical malpractice insurance companies take many factors into consideration to determine your rates. This includes, but is not limited to: location, claims history, coverage limits, and the type of policy a healthcare facility requires.

We will provide a rate plan comparison assessment so you can make the right choices for your program.

Medical professional liability insurance, commonly referred to as medical malpractice insurance, provides protection to healthcare providers against claims of negligence that result in bodily injury or death.

Medical malpractice policies pay damages and expenses including monetary awards such as settlements, jury verdicts or arbitration awards, attorney’s fees, and court costs.

Some policies may also provide coverage for regulatory defense, licensing board investigations, and other related expenses. Having this coverage can protect your business financially if your organization were to be sued.

Yes, a consent-to-settle provision is important and should be a part of every policy. This important provision precludes an insurance carrier from settling a case without the insured’s permission. It is important to ensure the policy has a “pure” consent-to-settle provision, instead of exceptions that give settlement authority back to the insurance company.

Tail coverage med mal insurance provides protection for claims brought after a claims-made insurance policy is terminated.

Sometimes, it takes years for a claim to emerge. This type of insurance protects your facility against claims that may arise far after an injury or event occurs.

If an insured refuses to consent to a settlement and elects to contest or continue to contest a claim, the company’s liability for loss shall not exceed the amount for which they could have settled such claim had the insured consented, plus claim expenses incurred after the time the company made such recommendation.

Maintain copies of each year’s policy indefinitely. At some point, these records may be needed to establish exactly what coverage was in place many years prior. Ensure there are no gaps in medical malpractice, professional liability, or business insurance coverage.

Regularly review coverages to identify any areas lacking protection. Notify the carrier of practice changes—name, address, structure, etc. Depending upon the specifics of the policy, the insurance company may deny a claim if it is not aware of practice changes.

When employers face financial difficulty, they may purchase less insurance or if self-insured, set aside less money to pay claims. All medical professionals should monitor what protections their employer provides.

Most policies written in the standard insurance market automatically provide coverage for some or all of a practice's or facility's staff as either insureds or additional insureds. Physicians, dentists, chiropractors, and podiatrists are typically excluded from this “free” coverage and must be listed as a named insured on the policy.

Malpractice insurance for healthcare facilities can offer protection for labs or imaging centers.

Most policies provide coverage for medical directors if the entity, such as a corporation or limited liability company, is a named insured on the policy. A separate medical director policy may be needed if providing medical director services for a practice or facility whose insurance does not automatically provide this protection.

Medical Director Liability Insurance, is a specialized type of professional liability insurance designed to protect individuals who hold the position of medical director within healthcare organizations.

Medical directors play a pivotal role in the healthcare space and oversee medical services and practices within a healthcare facility. Though they may not be performing procedures themselves, they are responsible for many aspects of a healthcare facility, including administrative and clinical duties.

Medical director malpractice insurance protects them if they were to be sued for alleged acts of malpractice, such as negligence.