Choosing Insurance on the PRMS Blog

Yes, it’s already that time of year again! If you’re like most busy psychiatrists, you may not yet have had a chance to implement last year’s risk management resolutions, or maybe even those of the year before that. Don’t worry – we’re not here to make you feel bad. In fact, this year we’re recommending a slightly different approach. Rather than looking at ways to improve your ...

In honor of Insurance Awareness Day this June 28, we want to ensure that everyone knows about all the benefits a medical professional liability policy through PRMS includes. In addition to insurance coverage, PRMS provides clients with our psychiatric risk management expertise through resources, online educational tools, one-on-one support, consultation, and more. PRMS strive ...

Have you ever wondered what sets Professional Risk Management Services (PRMS) apart from other medical malpractice insurance providers and why psychiatrists select PRMS? PRMS Account Manager, Rich Stagnato, RPLU, shares some highlights about PRMS, our psychiatry-specific insurance program, and the advantages that set PRMS apart in the video below:   To learn more about the su ...

An insurance policy with PRMS provides our clients with peace of mind. And this June 28th, in honor of National Insurance Awareness Day, we asked the PRMS Insurance Services team to share a few of the most common questions they receive from clients – and just what’s so great about a PRMS insurance policy. What has been the most common question received by Insurance Services in ...

You have insurance coverage. You received the lowest rate and have the certificate of insurance. You are properly insured, right? Perhaps not. Here are five of the most common issues you should avoid when choosing a policy.  1. Not having enough licensing board defense coverage. PRMS is seeing increased licensing board activity for many reasons such as aggressive boards, ...

Starting or joining a private practice is an exciting time, but it can also be risky. An essential way to protect your professional reputation and reduce risk is to obtain comprehensive medical professional liability insurance. In this post I will address some important steps you can take to help create and maintain a successful practice. Build good relationships If you are e ...

Many medical professional liability companies only offer claims-made policies to behavioral healthcare providers like you. You are probably familiar with some common assumptions associated with claims-made policies: –  A claims-made policy protects you against claims for an incident if the policy is active when the “claim” is “made”. Correct! –  An incident must be within t ...

A guest blog by Remy Palumbo, Senior Underwriter Many of us have a tendency to purchase insurance and then set aside our policy hoping to never need it.  Of course sometimes “life happens” and as a result, there are times when you’ll want to provide the underwriter of your medical professional liability insurance carrier with updates.  A few of these include: 1) When your mai ...

A Guest Blog by Rich Stagnato, PRMS Accounts Representative If you are not employed by a hospital or government facility, you will likely need your own medical malpractice policy. You should research your medical malpractice insurance and risk management needs by reviewing policy and feature differences. Ultimately, you have to feel comfortable that the people you are buying ...

A nationally syndicated advice column last week dealt with the issue of how to politely but decisively suppress any conversation with a talkative stranger (in a waiting room, or on a plane, etc.). One suggestion: tell the stranger that you sell insurance for a living. Alas, we in the insurance business have heard this before.  Insurance talk is boring and confusing at best, an ...