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Savings: On average, Physician clients that switch to Diederich Healthcare save 46% on their medical malpractice insurance.
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Diederich is committed to the environment by going paperless in our medical malpractice insurance offices nationwide. (read more)
Are your computer records and patient information protected? A recent survey by research group Advisen found that despite increasing instances of cyber attacks, only about a third of companies that need cyber liability insurance coverage are protected. Most companies need cyber insurance but don’t realize they don’t have it until after a lawsuit is filed and it’s too late. It is estimated that more companies will purchase cyber liability policies in the near future due to new SEC requirements that publicly traded companies disclose a “description of relevant insurance coverage” to their shareholders.
Cyber liability protection is just as crucial for independent medical practices. If you maintain computerized patient information then you have the responsibility to protect those records. Any unauthorized release of information or outside cyber attack could violate patient privacy laws and expose you and/or your medical practice to a lawsuit. Diederich Healthcare ...
The new year usually brings many changes in the medical malpractice insurance marketplace for physicians. Many doctors have professional liability insurance policies that renew in January. In the past, many companies have traditionally filed rate decreases in December that take effect for renewal business in the 1st quarter of the following year. This year has been relatively quiet in regards to rate changes, but one company has filed to decrease rates for some specialties. Physicians Insurance Company, upon approval from the Office of Insurance Regulation, plans to lower several specialties in all territories. The specific specialties have not yet been announced, however it is expected that the company will continue to focus on primary care physicians such as family practitioners, internists, and pediatricians. The company shines among a growing number of physician focused carriers in Florida. Although, Physicians Insurance Company is not a larger carrier, it has proven ...
Georgia medical malpractice insurance premiums have been lowered due to multiple events that took place in 2011. Medical malpractice insurance carrier competition has created a Georgia marketplace where the physicians can benefit from lower costs of professional liability insurance coverage. The following changes contributed to the rate decreases many physicians are now seeing in their practices:
Medicus Insurance Company enters Georgia
Mag Mutual announces $16.5 million dividend
Norcal Mutual acquires Medicus Insurance Company
The Doctors Company acquires FPIC group
Medicus Insurance Company receives “A” rating from A.M. Best
A.M. Best Upgrades The Doctors Company Financial Strength Ratings to A (Excellent)
The standard limits of liability in Georgia are $1,000,000 / $3,000,000. The discounts that each company can apply vary substantially based on rate filings with the state. Most Georgia medical malpractice insurance companies can offer claims free discounts, ...
The State with the largest demand for medical malpractice insurance alternatives has been New York. The New York medical malpractice insurance market has long been considered overburdened with high claims severity and overregulated by a Department of Insurance that has virtually taken control over the pricing of policies for traditional carriers. New York implemented a series of significant rate increases from 2003-2007 to correct artificially low rates and dwindling reserves from existing carriers. However, in the absence of significant reform, New York physicians are faced with the choice to pay higher premiums with traditional carriers or seek more competitive rates with alternatives such as Risk Retention Groups.
In 1986, Congress passed the Federal Risk Retention Act which provides a mechanism, for a Risk Retention Group (RRG) to operate in multiple states under one license. The Act states that an RRG must form as a liability insurance company under the laws of at least one...
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