Protect yourself and your wallet with medical malpractice tail insurance
When it comes to insurance, in addition to malpractice insurance, our associated agency, Nevada Docs Agency, can provide a one-stop source for all of your insurance needs. Whether it be Workers Comp, General Liability, Health Insurance, or malpractice insurance, where we have decades of experience, we can help find solutions that work for you. Our malpractice insurer, MedChoice, is supported by Physicians Insurance, a Mutual Company. Because MedChoice is owned by its insured doctors, we approach your welfare and defense as we want to be defended, unlike the typical conglomerate whose primary goal is to profit its shareholders. With MedChoice, your best interest is our primary interest.
Because MedChoice is consistently lower priced than other malpractice insurers, we can only accept the best doctors with the least impactful loss history.
However, even if you are at higher risk and have some losses, you are not out of luck. Suppose you have had challenges qualifying for programs such as MedChoice. In that case, we can get you into a program that can rehabilitate your risk profile so that you may eventually be eligible for MedChoice.
One of physicians’ biggest concerns today is paying for their medical malpractice insurance. The rates for malpractice insurance are continuously increasing, making it more and more difficult for doctors to stay in private practice. Medical malpractice insurance is probably the most expensive bill physicians pay yearly. When physicians leave a group practice or get out of private practice, they are often required to purchase medical malpractice tail insurance coverage.
Many physicians believe they are paying a lot for their medical malpractice insurance, but medical malpractice tail insurance is usually 1.5 to 2.5 times their current premium. The worst part about this is that the physician needs to pay for their malpractice tail coverage in full within 30 days of either leaving their group or leaving private practice.
Before you pay that outrageous premium to your current medical malpractice insurance company, there are other malpractice tail coverage options available. Most physicians believe that when they leave their groups or private practice to join a group, they must purchase their tail insurance coverage from their current insurance company. This could not be further from the truth. Multiple insurance carriers specialize in writing only tail insurance. Our program partner, MedChoice Risk Retention Group, is an affiliate of the Physicians Insurance Company, A Mutual Insurance Company. Physicians Insurance is an A.M. Best. A-rated carrier that allows us to write your tail insurance. The average savings for doctors with MedChoice is around 21% or $7,500 less than their tail insurance premium from their current medical malpractice insurance company. In addition, sometimes, when you join a group, your tail insurance is paid for by the new group. Even though the group has paid for this, you are indirectly paying for it. With our program, there is a good chance we can save you money on your medical malpractice tail insurance on the way in and on the way out of the group.