On a daily basis, I receive inquires from physicians requesting quotes for their Professional Liability Insurance (malpractice).  I am often asked, “Why is it that some malpractice Insurance Companies charge a premium that can be 25%-30% lower than my current policy?”.  The assumption is that because some companies offer a more attractive premium, that the coverage is not as adequate or doesn’t provide the same benefits.  However, this is usually not the case.

In a nutshell, different insurance companies have different experience models and appetites for particular risks.  It could be that some insurance companies prefer to insure surgical classes or higher risk specialties.  Some companies prefer to offer coverage to primary care specialties such as Family Practice or Internal Medicine.

Additionally, some Malpractice Insurance Companies offer preferred premiums in particular states or counties where they feel they are better posed to defend their insured’s with a strong defense network.

Professional Liability Insurance can be one of the highest expenses for a medical practice.  Do you know if you have the best coverage at the best price?  If you would like to find out, contact us.

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