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Occurrence Archives - Diederich Healthcare

The Ins-and-Outs of your professional liability insurance policy

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The information on your policy declarations page and certificate of insurance are the factors that determine who coverage is provided to, how much coverage is allotted and how far back it will extend into your prior acts period. You will see various sections on your certificate of insurance (COI) including:  Producer (your agent), Insurer (insurance company providing coverage), Insured (you), Type of coverage (professional liability should be marked at the bottom), and description of coverage…

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Cost

Know the Factors that Affect Professional Liability Premiums

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As professional liability agents, one question we often are asked is, “how can I reduce my premium?”  Although this question might appear simple, premiums are directly correlated to multiple factors, including practice profiles, policy types and features, physician background, and even market conditions.  Diederich Healthcare employs a highly skilled staff that is able to navigate the market, armed with the practice profile, in order to provide physicians and their staff with tailored, cost-effective solutions regarding…

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Transitioning From Occurrence to Claims-Made

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Claims-made policies are the most common type of policy issued today. These policies allow insurance companies to issue more accurate rates, usually at a lower cost to the physician, based on the amount of exposure the insurer is covering. At one point, occurrence policies were the norm. However, as malpractice claims dramatically increased, insurance companies had a difficult time trying to predict how much to collect in premium to cover future payouts. That poses two…

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