Hospitalists are Still Insurable on Individual, Solo Policies

As the sponsored medical malpractice insurance provider of the Society for Hospital Medicine (SHM), The Doctors’ Company can (working with The Doctors’ Insurance Agency) write affordable medical malpractice insurance providers for physicians who still may have a private practice and need coverage for part time ‘independent contractor’ work as a Hospitalist.  

If the hospitalist is employed (or a shareholder) in the Hospitalist group, than it is important to consider the best way to cover the group.  Hospitalist groups can save thousands by carefully writing a policy (working closely with underwriting to include a ‘rolling tail’ provision in the policy).

Here are three important factors to consider when comparing policies:

•    There are two types of policies out there: "Claims-Made" and "Occurrence Form." Occurrence form provides better protection because you're covered even if your policy has lapsed, as long as you had the policy when the actual incident occurred. It is very common for lawsuits to be filed years after the incident occurred! Claims-made coverage only protects you if your policy is valid when the claim is made.  Claims-Made policies are generally more affordable than Occurrence policies but do require a tail premium upon cancellation.

Check that the policy includes the following: general (also called slip-and-fall), cyber liability, administrative (billing fraud audits)  and professional (also called malpractice in medical fields).

•    Check whether the policy limits are defined by a "Master Shared Aggregate" or an "Individual Aggregate." Shared aggregate means that the policy limit is shared annually among all the group's policy holders, so each time another policy holder files a claim and gets an insurance payout, that amount is subtracted from the amount available to you. Individual policy limits mean the actual amount of money stated in the policy aggregate is yours alone. (also important to consider whether the expenses to defend diminish the policy limit amount or whether those expenses are outside (and do not diminish the policy.  

 We're confident that The Doctors’ Insurance Agency can work successfully with your hospitalist organization to save you premium and improve the coverage whether for the group of for your individual physicians.


Comments

Got something to say? Join the discussion »

Leave a Reply

 [Quick Submit with Ctrl+Enter]

Remember my details
Notify me of followup comments via e-mail

  1. Re: The Cost of Tail (The Doctors Company)

    Worked in Putnam Co, NY based group from May2, 2010 till retirement on June30, 2018. Planning to return...

    -- Janusz Rudnicki

  2. Re: Occurrence Professional Liability Insurance vs. Claims Made Liability Insurance

    http://www.northfacejacketoutlets.us.com/ north face jacket http://www.barbours.org.uk/ barbour http...

    -- caijuan83

  3. Re: Another Year of Malpractice Insurance Premium Reductions

    http://www.air-max-270.us.com/ nike air max 270 men http://www.pandora-charmsjewelry.us.com/ pandora...

    -- xuehui51

  4. Re: Obstetrics/Gynecology Medical Malpractice Insurance Does Not Have to be That Expensive:

    http://www.airmax90shoes.us.com/ nike air max 90 http://www.nikeairmax270.org.uk/ air max 270 http:/...

    -- yanxia39

  5. Re: Are Hospitalists More Likely to be Sued on a Group Policy than of their Practicing as an Independent Contractor?

    http://www.nikeair-max90.co.uk/ nike air max 95 http://www.stephen-curry-shoes.us.com/ curry shoes http...

    -- changhon62

  6. Re: Did you know: That There is a Medical Expert Witness Directory?

    http://www.mcms.us.com/ mcm backpack http://www.adidas-yeezyboost350.us.com/ yeezy http://www.pandorauk...

    -- yanxia39

  7. Re: Understanding Hospitalist Medicine

    http://www.northfacejacketoutlets.us.com/ north face vest http://www.mcms.us.com/ mcm backpack http:...

    -- xuehui51

  8. Re: Medical Director developing a MediSpa, Telemedicine or Medical Director Business

    http://www.jordan11.co.uk/ jordan shoes http://www.ugg--slippers.us.com/ ugg http://www.hermes--belt...

    -- xuehui51

  9. Re: Urgent Care, Fast, efficient healthcare, Long lasting, affordable medical malpractice insurance.

    http://www.rayban--glasses.us.com/ ray ban wayfarer http://www.swarovskis.us.com/ swarovski bracelet...

    -- yanxia39

  10. Re: The Real Threat of Medical Information Data Hacking

    http://www.northfacejacketoutlets.us.com/ north face jacket http://www.yeezyboost350--v2.us.com/ yeezy...

    -- xiuying23