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Changing Malpractice Insurers
We are meeting with a representative from a malpractice insurance company. What should we consider or ask before making a change?
Question: We are meeting with a representative from a malpractice insurance company. What should we consider or ask before making a change?
Answer: There are two main things to consider: the financial stability of the company and the details of its policies.
Many insurers are no longer offering med-mal, since they lose too much money on it. Others have gone bankrupt offering it, so you'll want to be careful.
Check with the state insurance department. Is the carrier licensed in your state? Ask if a state insurance fund is available in case the company runs into financial difficulty.
Be sure to visit www.AMBest.com to review reports on the company's financial standing. Standard and Poor's will also give you a report, for a price.
Also, make sure you fully understand what kind of policy they offer and its limitations.
Finally, look at price.
Asset Protection and Financial Planning
December 6th 2021Asset protection attorney and regular Physicians Practice contributor Ike Devji and Anthony Williams, an investment advisor representative and the founder and president of Mosaic Financial Associates, discuss the impact of COVID-19 on high-earner assets and financial planning, impending tax changes, common asset protection and wealth preservation mistakes high earners make, and more.
How AI billing delivers precision, compliance, and savings
November 26th 2024For healthcare providers, executives, and decision-makers, embracing AI in claims processing is not just a step toward improved financial outcomes—it’s an ethical commitment to better care and a more patient-centered approach to service delivery.
