Many Nurse Practitioners need to add coverage for their supervising physician. Adding coverage for a supervising physician could be very expensive (about $3K for 10 hours or less per week) and that’s why we recommend applying for Medical Clinic Liability Insurance coverage for some of our clients.
We have relationships with competitive markets for Medical Clinics. These Medical Clinic Liability Insurance policies can provide coverage for medical doctors, mid-level providers, nurse practitioners, medical assistants and anyone else you employ or contract with to provide these services.
One of the most significant features of this type of Medical Professional Liability policy is that it allows the doctors and the mid-level providers to cancel coverage without triggering an expensive tail premium (including the medical directors) as long as the policy remains active, the insurance company will respond to claims presented against doctors (and NP's, PA's, etc.) who are no longer working for you as long as they provided the service during the active period of the policy.
It is imperative to have a policy that can accommodate changing medical directors, changing nurse practitioners, add (and delete) medical doctors without significant premium increases.
The annual premiums do not increase much from year to year unless there is significant growth in the business or claims activity.
These Medical Professional Liability policies are specifically written to cover the services that you provide (and represent on the application)...which is a fair way to develop the premium - rather than applying premium per each healthcare practitioner.
We, at The Doctors Insurance Agency, are happy to work with you to get the right Medical Professional Liability Insurance for your group.