Jeffrey Smith-Cyber Risk Underwriters Healthcare executives often ask us how best to minimize cyber risk without breaking the budget. Here are a few easy and cost effective tools we highly recommend to healthcare providers. Most are available free of charge and require minimal expertise to implement. Get Phished According to Verizon[1], email fraud accounts for
By Daniel Casciato Healthcare professionals want to prevent any potential legal actions as it relates to the excellent care they provide to their patients. This includes advanced practice providers (APPs), such as Nurse Practitioners who now face similar legal issues to those experienced by physicians and other medical providers. According to Tom Murphy, a Med
by Matt Gracey Insurance underwriters use simple loss ratios (losses and expenses divided by premiums) as one of the tools with which to gauge a company’s suitability for coverage. High loss ratios, in which the losses approach, equal, or exceed the premium, are not good. One factor that has a large effect on loss ratios
By Matt Gracey Just as the heat of summer begins and ushers in hurricane season here in Florida, unfortunately other dark clouds are forming in the market for doctors’ medical malpractice insurance. For the last twelve years malpractice premiums have steadily decreased until the last few years of flat prices. As the frequency and severity
By Tom Murphy When it comes to preventing a data breach or cyber security issue at a medical practice, employers and employees should attempt to be as knowledgeable as possible to avoid making errors. This ultimately means that the practice needs a proven cyber security training program in place to make sure all employees are
By Wes Caldwell The “Key” to Buy/Sell Insurance I am often contacted by clients inquiring about key man insurance. After asking a few questions to determine what they are trying to accomplish, it usually turns out that they are actually looking for buy/sell insurance. In fact, these types of insurance, for the most part, do
By Julie Danna I was living in Panama City, FL when Hurricane Michael pretty much destroyed the community. The storm hit the Panhandle so quickly that we barely had time to prepare. This experience made me reflect on the harsh, destructive medical malpractice insurance crisis that hit Florida back in the late 1990s/early 2000s. I
Bu Matt Gracey They are called “shock losses” but industry experts are no longer shocked, but rather in a state that I would best describe as numb. Juries around the country are awarding mind blowing amounts to patients suing their doctors in medical malpractice cases. Lawsuits that end in awards over $10,000,000 against doctors are