The Doctors Company (TDC), the largest physician-owned malpractice insurance carrier, was approved to start offering coverage on an admitted basis to New York physicians and healthcare providers. This is an encouraging development for New York physicians, who traditionally have had only a few admitted carriers available in the state to choose from. Because of the lack of admitted options, recently many New York physicians and practices have considered coverage with Risk Retention Groups (RRG). This has presented some problems however, as RRGs are not universally accepted at all New York hospitals and do not qualify for Section 18 excess coverage. Furthermore, RRGs do not participate in New York’s Guaranty Fund and physicians who join a RRG are not protected in the event of insolvency.
Now with the approval of The Doctors Company, New York physicians have access to one of the largest and most reputable malpractice insurers in the country that is also one of only a few New York malpractice insurers who have an “A (Excellent)” A.M. Best Rating.
The Doctors Company has 80,000 members, over $4 Billion in assets, and is exclusively endorsed by many of the country’s most prestigious medical organizations. As a New York admitted carrier, TDC members are eligible for Section 18 free excess coverage if needed or desired.
Benefits of membership include:
- Competitive Premiums
- Offering both Occurrence and Claims-Made coverage
- The Tribute Plan, an unrivaled financial reward paid to members when they retire from the practice of medicine
- Legal representation for administrative actions brought by Medicare/Medicaid, medical licensing boards, credentialing reviews and actions, professional review organizations, federal agencies regarding EMTALA, and the DEA
- Cyber liability protection
- The industry’s most Aggressive Defense
Physicians in New York who wish to learn more about this new admitted carrier or obtain pricing can contact Diederich Healthcare at 800.457.7790 or complete our short online request form.To contact the author, call 800-457-7790 and ask for Matt Thompson.
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