All Posts Written By Myles Donnell, Author at Diederich Healthcare

Medical Malpractice Insurance Market Conditions: Florida

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The Medical Malpractice Insurance Market has changed drastically in the state of Florida. Over the last few years, the following changes have created the landscape we see today: Florida’s largest Medical Malpractice Insurer, First Professionals Insurance Company is acquired by The Doctors Company. Medicus Insurance Company enters the Florida market Florida Doctors Insurance Company changes their name to FD insurance to expand into Georgia Medicus Insurance Company is acquired Norcal Mutual Insurance Company FD Insurance…

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What to Consider When Adding a Physician to Your Practice

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Almost every month, I receive an email or call from a client that would like to inform me that their practice is growing. Their next question is almost always, “What do we need to do to add a physician to our policy?” Items to consider: Is your practice going to provide prior acts coverage? If your practice is going to match the new physician’s retroactive date, you are inheriting the risk of claim for this…

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What questions should you really be asking about insurance carriers?

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The primary reason for purchasing malpractice insurance is to protect yourself from a financial loss in the event of a claim being filed against you. Therefore, your number one concern should be whether or not an insurance company is capable of properly defending you. Questions to ask your broker about potential insurance carriers are: Is the carrier financially sound?   You can obtain NAIC reports from your broker to review each carrier’s financials from the previous…

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Switching coverage mid-policy period

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Perhaps you received a letter in the mail offering you cheaper coverage than what you currently have, but you are in the middle of your current policy period. Or maybe you just renewed with your current company and feel you may be stuck with that policy, even if you have found a better rate. Physicians and practice managers often have questions regarding switching their coverage mid-policy period. There are typically several questions and concerns that…

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How can I lower my premium?

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Very often I am asked by physicians, office managers, hospital administrators, and group representatives, “How can I lower my premium?” It also regularly surprises me how many of these people are not taking full advantage of the available discounts. Most already know about the claims free discounts and group discounts.  Some even know about the board certification discount and the additional double board certification discount.  The most often overlooked discount is the Risk Management Discount….

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FL

3 Useful Florida Medical Malpractice Insurance Web-Sites

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Although a lot of information on the World Wide Web is very inaccurate; patients, physicians, office managers and administrators can find helpful information with a few clicks of the mouse. There are three, state sponsored websites that can provide a tremendous about of information. For patients, the experience and claims history of a physician is something one should know before going in for surgery. For an office manager, the same information is good to know…

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Tampa

Tampa Bay, Florida – Medical Malpractice Insurance Market

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Many physicians in Hillsborough and Pinellas Counties have experienced lower annual premiums for their medical malpractice insurance.  Many specialties, including Family Practice, OB/GYN, General Surgery, Cardiology, Neurology, Internal Medicine, and Orthopedic Surgery have benefited from lower medical malpractice insurance premiums.   Physicians and Surgeons have been able to develop a more profitable business by lowering their cost of their Professional Liability insurance. The standard limits of liability in Florida are $250,000 / $750,000. The discounts that…

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Alabama Medical Malpractice Market Update

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Multiple events in 2011 have continued to lower medical malpractice premiums in Alabama. Carrier competition has created an Alabama marketplace where the physicians can benefit from lower costs of professional liability coverage. The following changes contributed to the rate decreases many physicians are now seeing in their practices: Medicus Insurance Company enters Alabama Norcal Mutual acquires Medicus Insurance Company The Doctors Company acquires FPIC group Medicus Insurance Company receives “A” rating from A.M. Best A.M….

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Florida Medical Malpractice Insurance Market Update

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Multiple events in 2011 have continued to lower Florida Medical Malpractice premiums. Carrier competition has created a Florida marketplace where the physicians can benefit from lower costs of professional liability coverage.  The following changes contributed to the rate decreases many physicians are now seeing in their practices: Medicus Insurance Company enters Florida Norcal Mutual acquires Medicus Insurance Company The Doctors Company acquires FPIC group Crum and Forster acquires Valiant Insurance Company Medicus Insurance Company receives…

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Florida Medical Malpractice Insurance Market Update – 2012

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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…

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