Commercial property insurance is a vital component of any business's risk management strategy, protecting physical assets such as buildings, equipment, and inventory from various perils. One important concept within commercial property insurance is coinsurance, a term that can significantly impact the outcome of a claim.
Standard Operating Procedure for Reporting Claims to Insurance Companies
The Importance of Shopping for Insurance Coverage
Top 5 Reasons Physicians and Healthcare Providers Get Sued
Why Healthcare Professionals Need Extended Reporting Period Coverage
In the evolving healthcare landscape, maintaining robust liability coverage is crucial. Extended Reporting Period (ERP) coverage, often referred to as "tail coverage," is a vital component for healthcare professionals. This type of coverage ensures continued protection even after your primary insurance policy has ended.
Maturing Insurance Premiums and What to Expect for Medical Malpractice Insurance
Many clients tend to wonder why their premiums increase yearly over the first five years of having a claims-made insurance policy for professional liability insurance. I believe it is the duty of the agent who is servicing you to disclose to you the ramifications of claims-made policies written for professional liability insurance, specifically medical malpractice insurance.
Cyber Liability and How an Insurance Broker Can Help
Cyber liability is the legal responsibility businesses and individuals can be held accountable for, for damages caused by data breaches and cyber-attacks. This can include expenses like credit monitoring, identity theft protection, and legal fees. It can also cover lost income if customers stop doing business with you because their personal information was compromised in a data breach.
How to Improve Accountability for Lost or Missing Patient Property
Opportunities of becoming a Medical Director and the business behind it
Physicians and surgeons have many opportunities to utilize their licenses and education in the healthcare space. Doctors have the opportunity to work hands-on in their specialty, the faculty in an educational setting as an attending physician, or even as a medical director providing administrative and or supervisory duties to mid-level and advanced-level practitioners.
How to Get Higher Cyber Limits When You Need Them the Most
If there's any term that strikes fear in the hearts of risk managers and many brokers alike, it's cyber. Not only is the landscape of cyber risk evolving and changing by the day, but comprehensive coverage against cyberattacks, ransomware, and other threats has gone from a nice-to-have add-on to a foundational part of enterprise risk management.
Common Pandemic-Related Questions About your Malpractice Insurance
Key Points About Your Medical Malpractice Insurance Your Agent Should Tell You
Medical Malpractice Insurance covers physicians’ and healthcare professionals’ liability arising from disputed services that result in a patient's injury or death. Searching for Medical Malpractice Insurance in 2020 can sometimes be challenging but finding the right broker or agent is paramount in the proper mitigation of your practice’s liabilities. Here are some key points about your medical malpractice insurance quotes that your agent should tell you.
Claims-Made, Occurrence Made, and ERP Medical Malpractice Insurance Policies
Policy forms include the claims-made, occurrence, and claims-made convertible. Typically, most policies are an occurrence made policy. However, due to a large number of claims and inflation of premiums in history, the insurance market created a policy form to reduce the burden of risk but also reduce premiums, which is the claims-made policy form. There are some caveats to be aware of which will be laid out in this blog with a healthcare-focus.
Improving Diagnoses In These Areas Can Reduce Malpractice Claims
A recent study found that improving diagnoses in three areas could help improve patient mortality rates, thus reducing malpractice claims. The main goal of this article was to identify the diseases that cause the most serious harm when the diagnosis is missed. The top three are cancer, vascular events, and infections.
Mistakes To Avoid When Dealing With Medical Board Complaints
Medical malpractice suits are the primary concern of the majority of physicians today. However, what they all may not be aware of is that a medical board complaint can be just as detrimental to their income and can even end their careers. Therefore, it is crucial to make sure that the complaint is handled in the appropriate manner and to avoid making the following crucial mistakes that can cost you, the physician.
