From the monthly archives: July 2012

We are pleased to present below all posts archived in 'July 2012'. If you still can't find what you are looking for, try using the search box.

Another Year of Malpractice Insurance Premium Reductions

From Massachusetts to Northern California, From National Insurers, The Doctors Company to Pro Mutual, Insurers are declaring large dividends again this year.  As the market rolls along into its seventh year of favorable loss development, companies are able to return funds allocated for forecasted losses, claims are lower than budgeted, which allows for the company to return funds in the following year.  Specifically, the company that our agency represents, The Doctors Company, will hand out a 21 Million dividend to its members in premium credits and cash disbursements.  Plastic Surgeons, Internal Medicine, Hospitalists, and other nationally endorsed specialists in every state as well as the core TDC states of Colorado, Florida, Georgia, Idaho, Maryland, Montana and Ohio are all declare large percentage dividends for the physician policyholders.   MAG Mutual, Medical Mutual of Maine, and other physician owned carriers are bringing that benefit to their physicians as well.  Agency' ...
Read the rest of entry »

Medical Directors Coverage, clinics, home health agencies and Medispas

Physicians Insured on Medical Malpractice Insurance Policies, with Standard Carriers should be aware of the importance of protecting their own policy.  Lately, we have encountered a number of physicians who have taken extra work serving as Medical Directors of Medical Spa Insurance, Skin Centers, Clinics or Home Health Agencies.  The problem with this extra work is that they are either not asking or assuming that the extra duties as Directors are covered under their medical malpractice insurance policies. 

When a physician is asked to provide these services, just ask for help placing a stand alone medical director policy.  The Stand Alone Medical Director Policy will cost less per year than the cost of the lost claims free discount if a claim comes in to a physician who has added these services.  We refer to these policies as a fire wall between the medical director work and the specialty of the physician.  These policies are usually underwritten by Lloyda of London, covering all administrative duties and patient care.  Lloyd's does offer an option to cover medical directors who also provide patient care,  less than 50 % of the time.  These stand alone policies are available nationwide, with limits lower than 1 Million/ 3 Million if necessary.

Standard Carriers, like The Doctors Company, Medical Protective, Philadephia, Norcal, and others can add this coverage by endorsement, extending coverage under the base medical malpractice policies,  and we can help you with that need.  We do recommend a stand alone, separate policy to make this coverage more effective for the facility and the physician.  

Employment Practices Liability Insurance rates slightly up

If you are on the Board of Directors of your medical group, or medical facility, and you do not have an Employment Practices Liability Insurance Policy,  this should get your attention.  Wage and Hour claims are on the rise,  failure to promote to the level of shareholder claims are growing and, the simmering volcano of claims about to erupt,  social media abuses are starting to generate some sticky underwriting and claims questions.  So far, based upon interviews of major insurance carriers specializing, reserved and ready for the onslaught of claims against employers, nothing has happened.  No doubt, these will surface.  The use of Social Media blurs the lines between business and personal expression.  This is unchartered territory for employers, little direction or guidance.  There isn't really an intuitive path in this new field yet.  We are all, sort of collectively shooting from the hip on policy and protocol governing what statements or usage is appropriate and which are not.  

One caution that seems consistent:  Listen and read for the side of the National Labor Relations Board opinions and publications,  the NLRB is taking a protective position on this issue,  looking out for the rights of the employees.  Companies cannot crack down on the freedom of speech or the right to gather  and take collective action against the employers sometimes unfavorable working conditions.  Generally,  the National Labor Relations Board is enforcing and lobbying hard to not allow, companies to over reach in  their opinion papers.  It is acceptable to ask employees to state that their opinions about a particular company (or medical employer) are just that,  their own personal opinion.  It seems that the guiding principle when criticizing an employer is,  state your name, be clear about your affiliations and keep your comments balanced.  One company attracted the attention of NLRB's attorneys as it says that all employee expressions on social media must not be misleading and they must be completely accurate.  This kind of policy will result in employment practices liability claims inevitably as employees feel stymied in their efforts to affect change, to vent and to call out bad behavior.  Not surprisingly, I suppose, companies that are big, endeavoring to grow by new niches and acquisitions might err on the side of social media censurship,  it is important to read, take in counsel and allow some of the social noise to play in the background.

A solid employment practices liability insurer will provide the necessary cyber, social media protections for the employer when the company board has acted in its best interest to guard its reputation.  Whether it is wages not paid, vacation time still owed, or cracking down and taking disciplinary action against employees 'trashing the company', our EPLI policies can protect your assets.  

  1. Re: The Podiatrists Market Research Report states that demand for podiatrists will likely benefit from healthcare reform.

    My husband has been feeling a lot of pain in his feet recently. We think this could be due to his posture...

    -- Sarah

  2. Re: Developing Walk In and Urgent Care Centers

    It's good to see that urgent care facilities are becoming more and more prevalent. You are right that...

    -- Caden Dahl

  3. Re: Functional Medicine Malpractice Insurance

    Interested in obtaining information for FM MP

    -- Cynthia Shughrue

  4. Re: Visiting Residents/Intern/ Fellow (Hands On) Medical Malpractice Insurance

    I am a final year medical student planning to do a couple of electives in medical school in the US and...

    -- Varun

  5. Re: Medical Malpractice Insurance Benefits, expanding to outpatient facilities

    I like the idea of some of the cost returning to the normal discounted market after a few years of claims...

    -- Dave Anderson

  6. Re: Who Can Perform Liposuction Surgery?

    This is very interesting content! I have thoroughly enjoyed reading your points and have come to the...

    -- Re: Who Can Perform Liposuction Surgery?

    Thanks for helping me understand any licensed physician can actually perform this procedure as per the...

    -- Millie Hue

  7. Re: The Podiatrists Market Research Report states that demand for podiatrists will likely benefit from healthcare reform.

    Thanks for giving me more information about the benefits of podiatrists from the healthcare reform. ...

    -- James

  8. Re: Clinical Research Liability

    I am starting a Clinical Research site in Philadelphia and am interested in learning more about a policy...

    -- Takoda Roland

  9. Re: When you might need another one or two medical malpractice insurance policies.

    My colleagues were searching for NC SF 521 several days ago and learned about an online platform that...

    -- pauletta walker