Affordable Professional Liability Insurance for Medical Directors

February 11, 2016

Medical Director Liability Insurance

Whether performing administrative/managerial tasks, ensuring the right quality care is delivered by health care teams, or performing services as attending physician, the responsibilities of Medical Directors can put them at high profile risk of being named in a lawsuit alleging professional negligence.

The Doctors’ Insurance Agency provides comprehensive, affordable Professional Liability Insurance for Medical Directors, designed specifically for their insurance needs.

Are you included in the facilities’ policy for professional liability: Sometimes medical directors assume they are covered by the facility; or, they assume they are covered by their employer/ medical organization. Intuitively, it would seem that those larger policies include coverage for the medical director or physician who also maintains their own private medical malpractice. These assumptions can result in serious gaps in coverage, or, insufficient or no coverage at all. Indeed, some policies may cover only administrative duties and not patient care—others may exclude coverage for Medical Directors altogether. (like most physician medical malpractice forms)

Tail coverage for Medical Directors:

This is an important issue to consider as many facilities do not include tail (if they do help to procure the professional liability policy: that important tail issue may not be included). Working for multiple healthcare organizations and/or facilities, the medical director contracts and coverage should concern you enough to call a professional medical malpractice agent to completely review the terms, the premium, the tail and the coverage.

A strong medical director liability insurance policy should follow you from facility and organization to wherever you sign these contracts. With your own personal Professional Liability Insurance policy, you are covered for all the work you do as a Medical Director—no matter where you work.

Important to know that you can purchase one Policy

Coverage is available for administrative duties as well as patient care—with liability limits up to $3,000,000 aggregate per year. With this insurance, you define where you work and the services required.

Whether the work is administrative only, indirect patient care, or medical director/administrative as well as acting as an attending physician; our specialty carriers and teams of experienced underwriters understand the risk and can help you take care of this in just a few days for usually less than $ 4,000 per year.

Medical director work is specifically excluded from physician medical malpractice policies.

In order to write this coverage back into the policy, the insurance company will do this by endorsement. The endorsements can be added at no additional premium or after explaining the nature of the medical director work, the hours and the number of facilities for which you are providing these services, the underwriters can develop some premium in order to add this endorsement. When the medical director work is added to the malpractice policy; these contacts (which can be short lived) can cancel without incurring the tail cost (this is because the medical director coverage is tied to the underlying medical malpractice policy.) The Doctors Insurance Agency works with many physicians, representing them to the specialty insurance carriers for these medical director liability policies.