The Standard | The Premier Publication for Medical Professionals Nationwide.

Professional Liability Archives - Diederich Healthcare

July 12, 2018
3

New Admitted Carrier Offering Malpractice Insurance Coverage in New York

Posted by | Uncategorized | No Comments

The Doctors Company (TDC), the largest physician-owned malpractice insurance carrier, was approved to start offering coverage on an admitted basis to New York physicians and healthcare providers. This is an encouraging development for New York physicians, who traditionally have had only a few admitted carriers available in the state to choose from. Because of the lack of admitted options, recently many New York physicians and practices have considered coverage with Risk Retention Groups (RRG). This…

Read More
February 18, 2016
0

Why do malpractice insurance costs differ between insurance companies?

Posted by | Uncategorized | No Comments

On a daily basis, I receive inquires from physicians requesting quotes for their Professional Liability Insurance (malpractice).  I am often asked, “Why is it that some malpractice insurance companies charge a premium that can be 25%-30% lower than my current policy?”.  The assumption is that because some companies offer a more attractive premium, that the coverage is not as adequate or doesn’t provide the same benefits.  However, this is usually not the case. In a…

Read More
November 05, 2014
0

Beyond Medical Malpractice – Other Policies a Physician Practice Needs

Posted by | Uncategorized | No Comments

Most physicians will agree that their livelihood depends on the success of their practice.  Although professional liability insurance will protect the insured from errors and omissions in their day to day patient contact, there are additional insurance options that will also protect against loss from many other unforeseen acts that can be devastating to both the physician’s practice and their reputation.  For a healthcare provider, understanding the differences between coverages,  knowing what is needed for…

Read More
March 17, 2014
0

The Agency Advantage: Utilizing your Professional Liability Agent for Maximum Premium Credits

Posted by | Uncategorized | No Comments

As a result of an increased number of lawsuits involving medical malpractice due to poor risk management practices, many professional liability carriers are now offering multiple opportunities for physicians to learn best practices while also earning credits toward their premium.  The training focuses on quality assurance through identifying risk, minimizing risk, and reducing the impact when losses occur.1   By implementing strategies for improving existing methods, both the physician and the carrier benefit by reducing the…

Read More
December 02, 2013
1

Using a Broker/Agent and Choosing a Carrier for Medical Malpractice Insurance

Posted by | Uncategorized | No Comments

Choosing the best fit for your Medical Malpractice Insurance coverage is one of the most important decisions that a Physician will make for his/her medical practice.  There are many options available and they can vary greatly in policy coverage, form, and premium from Carrier to Carrier and State to State.  Items that should be addressed and examined on an annual basis include: Differences in insurance company structure and the regulations under which carriers operate “Admitted”…

Read More
December 02, 2013
0

Does price reflect quality of malpractice insurance?

Posted by | Uncategorized | One Comment

Medical malpractice insurance is a major expense for physicians in private practice.  Naturally, it makes sense to manage this expense to increase profit for your practice.  Though if you are a physician or practice manager who has doubted the quality of an insurance company based on the lower premiums they provide, you are not alone.  The last thing you should do is choose an insurance policy based solely on a low premium, only to find…

Read More
December 02, 2013
1

Change in 2014 – Oklahoma physicians can reduce practice costs with minimal effort

Posted by | Uncategorized | One Comment

Uncertainty surrounding the Affordable Care Act and continuing changes in the delivery of healthcare are of significant concern for physicians.  Doctors across the country are examining the healthcare environment and taking steps to prepare for the impact that this anticipated change will have on their practices.  As a result, many are looking for ways to reduce overhead costs while maintaining the core value of their practice – patient care.   Medical malpractice insurance represents a significant…

Read More
September 18, 2012
0

Medical Malpractice Insurance and Cyber Liability – A Great Combination

Posted by | Uncategorized | No Comments

A trend that started a couple of years ago continues to catch on in the medical malpractice insurance community.  Several medical professional liability insurance companies have been adding on extra coverages for physicians in order to entice them to stay with their current company and also attract new physicians.  One of the most popular endorsements added to these policies in recent years has been Cyber Liability Coverage.  The great thing about this additional coverage is…

Read More
August 17, 2012
0

Medical Director Liability Coverage

Posted by | Uncategorized | No Comments

Most physicians assume that their exposure as Medical Director at a nursing home is covered under their standard Medical Professional Liability Insurance policy or under the Nursing Home’s Liability policy.  The truth is that most Med-Mal policies specifically EXCLUDE any Medical Director responsibilities, whether the physician has direct patient contact or not.  A physician’s medical liability policy will, most likely, cover clinical issues related to the direct care of the physician’s patients while they are…

Read More
August 14, 2012
0

Know Your Options Before Purchasing Tail Coverage for your Medical Malpractice Policy

Posted by | Uncategorized | No Comments

If you have ever had to purchase tail coverage for your medical malpractice insurance policy, you know how expensive and limited your options are.  Tail can be very costly, usually double the expiring premium with your incumbent carrier.  Now there are options for tail coverage outside of your incumbent carrier! In response to a growing need and interest in competitive tail coverage, Diederich Healthcare can provide stand-alone tail coverage that can save you significantly in…

Read More
Quality, cost-effective medical professional liability insurance for medical professionals. Get A Quote Now!