Physicians Rely on Insurance Industry Experts
Physicians have advanced science and medical training, concern for patient care, strong communication skills, and they manage a staff of medical technicians and office managers. Physicians also rely on insurance risk/claim management professionals, experienced legal counsel, and licensed independent agents throughout their medical careers. Top malpractice insurers provide this team of experts to help physicians carefully manage the many risks that are associated with practicing medicine.
“Great things in business are never done by one person. They’re done by a team of people.” – Steve Jobs
The Team of Malpractice Insurance Experts
- Risk Management: Provides professional risk management (loss prevention) and CME training.
- Claim Specialists: An expert team of investigators and claim managers.
- Legal Counsel: Defense attorneys appointed (not employed) by the insurer to defend physician policyholders.
- Independent Insurance Agents: Independent licensed agents appointed (not employed) by the insurer to recommend coverage and premium options.
Loss Prevention and CME Training
Risk management experts provide physician policyholders with the knowledge, skills, and tools to enhance productivity, improve patient safety, reduce practice risks, and help avoid claims. Continuing education training to help with required CME credits and potential discounts to help reduce the policy premium.
Always report any incident that may develop into a claim and report them immediately. Reporting incidents are required under the policy and this does not raise the premium cost. The insurance company will investigate and offer their assistance where needed.
The insurer has a team of claim specialists and will evaluate every claim to establish an estimated loss reserve amount. If a loss reserve is set at around $25k to $50k, then this can either remove loss-free credits or add a premium surcharge if necessary.
In the event a lawsuit is filed, then a litigation manager for the insurer will assign the best “outside” legal counsel to defend the physician policyholder. An outside independent attorney will have a greater track record for success than an attorney who is employed by the insurance company. This is mainly because of shifting workloads and the more diverse interests that are involved.
The appointed defense attorney and litigation manager for the insurer will work together with the physician until the lawsuit is resolved. This team of experts will evaluate and make recommendations throughout the entire lawsuit process. This proven team of experts will maintain a win ratio above 85% on average. If the physician along with the insurer determines that the claim cannot be defended, then the claim will be resolved quickly and efficiently.
Independent Licensed Insurance Agents
Nearly all top insurers appoint independent insurance agents to recommend the best insurance policies that will meet the physician’s needs. An “in-house” insurance company agent will not have full insurance market experience or access to other companies that may compete. An independent agent has both the experience and access to many insurance markets for the physician to choose from. Physicians make career changes and have life events that will require ongoing assistance from an independent agent.
Note: Physicians can find valuable resources on websites that are maintained by top insurers and their independent experts.
Aviso Insurance is privileged to assist physicians to recover after an unfortunate claim or lawsuit. Our goal is to restore the best coverage for the lowest premium cost.
Aviso Insurance is an independent agency that works for YOU, the medical expert. We have access to nearly all the medical malpractice insurance markets to serve you.
“At Aviso Insurance, we are proud to serve the many heroic professionals in our healthcare community.”
Dan Reale, Independent Agent/Owner – Office: (407) 808-6149 – E-Mail: [email protected]