The smart specialty insurance company Carolina Casualty provides these important explanations about how to insure the managers of your medical group:
Management Liability for Medical Facilities
When you ask physicians in your organization to serve as medical directors and fiduciary managers, make sure you have considered the risk management component:
Transfer the risk to an experienced, confident, resourceful insurance company.
The Doctors’ Insurance Agency and NAS can help you manage this risk and retain your talented physician managers by assuring them that coverage for the following is in place:
- Members of the organization’s peer review committee are covered as insureds.
- All insured persons are covered for alleged violations of the Health Insurance Portability and Accountability Act of 1996 (HIPAA).
- Third-party liability coverage is provided for claims brought by patients or clients for discrimination and/or harassment. Any organization that deals with the general public faces this exposure.
- Express coverage for any claim made against the insured for accreditation, certification, credentialing, professional assessment, peer review, sponsoring or standard-setting activities conducted by the insured organization or on its behalf.
- Employment Practices, supervision, decision and staffing claims are covered.
- Business contracts that result in waste or diminished asset value for the medical organization : “waste of asset’ claims are covered.
Monitor’s Management Liability program for medical groups, independent physicians associations and home health care organizations provides tailor-made protection.
Designed specifically for small to mid-sized health care organizations with one to 500 employees, this liability program offers deductibles as low as $10,000 and limits of up to $2,000,000 per coverage section purchased.
Eligible organizations include:
- General practice physician offices
- Specialty physician offices
- Dental offices
- Outpatient general care clinics
- Outpatient emergency care facilities
- Radiology clinics
- Other qualifying health care organizations.
Managed care plans, nursing homes, hospitals and their affiliated emergency treatment centers are not eligible.