Depending on your current professional liability coverage program, your options for reducing your 2015 premiums could be limited. If you are one of the thousands of physicians in this situation, you may be liable for next year’s entire annual assessment unless you take action now.
In some cases, you must give notice by October 31st that you intend to opt out of the 2015 assessment even though your coverage does not renew until December 31st. If specific notice is not given, you will be responsible for paying next year’s entire assessment, even if you wish to move to another insurance company. Furthermore, your policy may be assessable meaning your coverage provider can raise all its members’ costs at any time – even if you personally do not experience a loss.
In today’s market, you have more options than ever when it comes to your professional liability insurance. Regardless of your specialty, there are “A” rated malpractice insurance companies offering quality coverage at competitive rates to suit your practice’s specific needs.
Many California physicians have been interested in obtaining a more cost-effective, stable insurance plan, but missed their deadline to do so in previous years. Diederich Healthcare’s experienced brokers are currently working with numerous physicians in this situation. They know the steps that must be taken to ensure you allow yourself options for your 2015 malpractice insurance plan.
Complete our quick quote form or call Diederich Healthcare at 800-457-7790 to speak to a licensed professional who is ready to help you.To contact the author, call 800-457-7790 and ask for Matt Thompson.