Medical Professional Liability Insurance

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 ...

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. Having a “conditional” consent to settle clause in the policy. Even though “consent to settle” clauses are common, if an insured doctor wants to de ...

The last half of December can be a slow time in medical offices, even for psychiatrists. May I suggest that if you have some free time over the next few weeks, you do some homework? It’s not hard, and there’s just a simple self-test.  But what you learn may pay huge dividends down the road.  The assignment: read your professional liability insurance policy! Once you’ve read i ...

I’m regularly asked about the difference between claims made versus occurrence coverage forms. Here’s a short video explaining the difference. ...

No one is more pleasantly surprised than I am to see that a number of you have become regular readers of this blog. Up to this point, we at PRMS have chosen the topic of each post, based largely on what we think you may be interested in reading about.  We would, however, like to hear from you. What do you want us to write about?   Please send us your questions.  You can email ...

Sooner or later, almost every resident is going to consider working a few hours a week in a setting completely separate from his or her training program. But we also know that some doctors in salaried employment (academia, government agencies, administrative positions, etc.)  want to moonlight in clinical work. In our experience, many “moonlighters” don’t plan for covering thei ...

(At least about liability insurance.) I have mentioned more than once that while PRMS staff always welcomes the opportunity to speak to groups of psychiatrists in all stages of practice, we particularly welcome the chance to speak with residents. We believe that good advice early in one’s career can ease the transition to practice, reduce the anxiety that it creates, and help ...

Professional education of all kinds today (medicine, law, accounting, etc.) is focused on providing students with exposure to the professional information they need to succeed. Unfortunately, there’s little time left to expose them to the very practical information they need to use their expertise to make a living. For example, many lawyers, after three years in law school, bar ...