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The
majority of employers and
healthcare providers offer to
pay for malpractice insurance as
one of the primary benefits of
being their employee.
You
need to ask the employer if they
pay for malpractice insurance,
or if you are expected to
purchase your own. National
Health Partners & Resources
can help you negotiate benefits,
such as Malpractice Insurance.
Just e-mail your questions to nhpartners@nhpartners.com.
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There
are several types of Malpractice
Insurance Coverage offered. The
three major types of Malpractice
Insurance policies are:
- Claims
Made Insurance
- Occurrence
Made Insurance
- Tail
Insurance
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Claims
Made Insurance
covers any insurance claims or
suit against you only while
under current employment of the
employer when the policy was
issued. Otherwise, you must pick
up a policy that covers you if
you are sued while out of
employment with that employer
(referred to as a Tail policy
which from specialty to
specialty may vary in cost). For
example, had a patient sued you
for your treatment of them after
you left that employer, then you
must have other coverage during
that lapse of time of coverage
from that employer.
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Occurrence
Made Insurance
covers
any claim made regardless of
whom you are employed by
provided that the Insurance
Carrier was the insurer at the
time of the treatment of the
patient. This policy has
tremendous value because it
covers you indefinitely. Because
it is so expensive, many
employers do not offer it. If
you are lucky enough to get this
policy, it is a great benefit!
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| Tail
Insurance
Refers
to a policy that insures you in
the event a suit arises after
you have left employment. This
policy is very costly; on the
order of 1½ to 2 times the cost
of an annual Claims Made
policy. Many times your new
group will pick up the Tail
policy, other times the old
group may provide the policy.
This is a negotiable area to
consider when signing a
contract. |
| Liability
coverage on physicians varies
greatly from specialty to
specialty. Premiums for coverage
vary significantly from state to
state and regions of the
country. Common liability limits
for primary care physicians are
$1,000,000 per incident and $3,
000,000 annually. |
| For
more information, on malpractice
insurance and rates, contact one
of the carriers below. |
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Malpractice
Carriers
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| 1.
Mutual
Insurance
Corporation of
America (MICOA) |
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On
the web at : http://www.micoa.com
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| Telephone:
1-800-748-2851 |
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