The Standard | The Premier Publication for Medical Professionals Nationwide.

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Georgia Medical Malpractice Insurance Market Update

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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…

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Risk Retention Groups and their impact in New York

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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…

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Save Money on Tail Coverage

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Physicians across the country are now able to secure affordable stand-alone tail coverage.  In an effort to contain the costs of tail coverage for physicians, Diederich has taken the steps necessary in order to be able to provide cost-effective stand-alone tail coverage for physicians. More frequent than ever, physicians have begun closing  their private practices to seek stability as an employed medical provider with a large integrated health system. Many medical experts consider this “an…

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Moving from Private Practice to a Hospital or Regional Healthcare System

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Giving up or selling your private practice to a hospital or regional healthcare system can involve unexpected expense and exposure.  This alarming nationwide trend is luring private practice physicians with the expectation of a perceived safe-haven by being employed with an organization that “provides” the benefits of health and medical malpractice insurance, retirement benefits and an atmosphere free from the worries of employer related expenses, patient/government/insurance reimbursement collections and employee issues.  For some physicians, and…

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What about physicians who are difficult to insure?

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I recently assisted a local OB/GYN with obtaining high quality, affordable medical malpractice insurance coverage with an “A-rated” carrier when she believed that no standard, admitted carrier would be willing to cover her. Until her one-and-only claim was settled for $750,000, this physician had been practicing obstetrics and gynecology for 20 years without ever having a malpractice insurance claim filed against her. In fact—her record was spotless for those 20 years. While she had done…

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Internal Medicine – Medical Malpractice, Limitation of Coverage in Illinois

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I received a phone call from an Internal Medicine specialist, located in Illinois, in the middle of January. His current Professional Liability (Medical Malpractice) Insurance Company had recently informed him that they were not going to offer coverage for some of the aesthetic procedures that he was already performing. The procedures included Botox Injection, Laser Hair Removal and low risk Vein Removal. While this was not a major portion of the Internists practice, it did…

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