By Vanessa Orr When a mistake is made in a healthcare setting, doctors and nurses are encouraged to report it immediately as a way to mitigate the problem and to ensure that it doesn’t happen again. Unfortunately, a recent court case is showing that sharing this information might not always be in healthcare providers’ best

BY VANESSA ORR It is imperative that healthcare companies carry cyber insurance; after all, protecting patients’ medical records is of the utmost importance. Unfortunately, as the threat of cyberattacks, including malware and ransomware increases, so do the rates for this essential coverage. “We are now seeing our healthcare clients face cyber insurance renewal rate increases

BY VANESSA ORR As premiums continue to increase for professional liability coverage, a number of physicians are choosing to self-insure, or “go bare.” And while Florida law does not require physicians to have professional liability insurance, the risks far outweigh the rewards. “Self-insuring is analogous to having a home that, because you paid the mortgage

By Vanessa Orr Malpractice insurance is one of the largest expense items that health care professionals have, so it’s important to find ways to save money while still receiving the proper coverage. Purchasing groups, in which a group of doctors buy insurance together, have numerous benefits in addition to decreasing premiums. “We’ve found purchasing groups

By Tom Murphy The current COVID-19 pandemic has accelerated the use of telemedicine. It has forced the sudden adoption of telemedicine by many medical practices and healthcare systems, accompanied by government and payer emergency measures that have helped to make telemedicine care easier. Most of these emergency measures will sunset, and while most physicians and

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 As more doctors join hospitals or are considering doing so we are seeing more trouble created in the transactions by the doctors’ malpractice insurance tail issues.  Once a doctor terminates his or her coverage for their practice and moves into a hospital practice their policy coverage will burn up almost completely unless

In the wake of the March 13, 2014 Florida Supreme Court ruling that a 2003 law limiting damages in medical-malpractice cases was deemed unconstitutional, a more difficult, “hard market” was predicted to hit Florida’s malpractice insurance market soon. Much like the dark storms on the horizon indicating a coming storm, we are starting to see