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7 Biggest Medical Malpractice Insurance Mistakes
7 Biggest Medical Malpractice Insurance Mistakes
Dr. X is sued
Result:
He is covered (assuming it is an eligible claim) since his
coverage goes back to his retro date and this claim
happened after his retro date of 9/07/05.
THE 7 BIGGEST MED MAL MISTAKES
Example B
Dr Sanchez has had a bad year and he wants to save
money on his malpractice insurance this year.
This is called the retro inception date where the retro date is
the same as the inception date. This is a much cheaper
coverage since it is more limited. The doctor saves
$15,000. He drops the coverage that was retroactive to
09/07/05.
THE 7 BIGGEST MED MAL MISTAKES
Result:
His coverage is denied for something that happened on
11/06/05 involving the birth of a child, since he dropped his
retro date.
We submit our Non Standard malpractice clients to the Standard market every
year and sometimes they get in within the 1st try or the 6th try. Regardless of
however many tries, it is worth it when they do get in. We met an FP OB paying
147k a year in the Non Standard market. We got him accepted by a Standard
Insurer for 45k. His broker did not even submit him to the standard market.
THE 7 BIGGEST MED MAL MISTAKES