insurance

Understanding Coinsurance in Commercial Property Insurance: What It Means and How to Ensure Adequate Coverage

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.

The Hidden Costs of Increasing Your Insurance Deductible: Why It’s Often Not Worth the Premium Savings

When shopping for insurance, the temptation to lower your premium by increasing your deductible can be strong. After all, a lower monthly payment seems like a smart way to save money. However, the truth is that increasing your deductible might not be as cost-effective as it appears.

Understanding the Differences Between Standard and Non-Standard Insurance Companies

When it comes to choosing the right insurance coverage, it's essential to understand the distinctions between standard and non-standard insurance companies. This knowledge is particularly crucial for healthcare professionals who need to ensure they are adequately covered in their high-stakes profession. Here, we break down the key differences, benefits, and examples of both types of insurance providers.

Standard Operating Procedure for Reporting Claims to Insurance Companies

If you've experienced a loss and need to report a claim, it's important to follow a structured process to ensure a swift and accurate resolution. The steps outlined below offer a standard operating procedure (SOP) to guide you through reporting claims to your insurance company.

The Importance of Shopping for Insurance Coverage

Are you getting the best deal on your insurance? For healthcare professionals, ensuring you have comprehensive coverage at an affordable premium is crucial. Shopping for insurance isn't just about finding the cheapest policy—it's about getting the right coverage that meets your unique needs.

Top 5 Reasons Physicians and Healthcare Providers Get Sued

Navigating the complex landscape of healthcare involves numerous legal risks. Understanding the top reasons for lawsuits can help medical professionals and healthcare providers mitigate these risks and enhance patient care.

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.

What Medical Malpractice Insurance Covers for Doctors and Physicians: A Comprehensive Guide

That's where medical malpractice insurance comes into play—a vital safeguard that ensures you have the necessary protection against potential risks. In this comprehensive guide, we'll explore the importance of medical malpractice insurance, what it covers, and the potential consequences of not having it.

Understanding the Increase in Medical Professional Liability Insurance Premiums

As a healthcare provider, having medical professional liability insurance is essential to protect you from potential litigation. The coverage provides financial assistance in case of malpractice claims or lawsuits. However, as you continue to renew your policy, you may notice an increase in your insurance premiums

Terms of Extended Reporting Periods, AKA Tail Coverage, to consider in your employment/independent contractor agreements for healthcare providers.

Having employees and/or independent contractors for your healthcare practice is vital to the success of your organization and the essence of providing care to individuals. Often with medical malpractice insurance, you can typically add additional mid-level and advanced-level providers to your policy as a physician or surgeon or even an entity policy.

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.

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.