News & Press

Increasing Cyberattacks Driving Up Cyber Insurance Rates

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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

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Medical Directorships Come with Responsibilities, Risks

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By Vanessa Orr While it may seem that becoming the medical director of a facility is an easy way for a physician to earn extra income, the position comes with myriad responsibilities, including ones of which doctors may not be aware. “A lot of physicians think that becoming a medical director won’t require a lot

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Assets, License Best Protected Through Professional Liability Insurance

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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

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Social Inflation Influencing Lawsuits, Verdict Amounts

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BY VANESSA ORR As the legal saying goes, there are three sides to every story: the plaintiff’s side, the defense’s side, and the truth, which is somewhere in the middle. And while courts and juries used to be able to come to a conclusion based on the facts, in these days of social inflation, perception

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Assets, License Best Protected Through Professional Liability Insurance

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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

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The Return of the Carpetbaggers

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BY VANESSA ORR One of the latest trends in the Florida malpractice insurance market is companies from out of state moving in to write policies for local physicians. What they don’t understand, according to Matt Gracey, managing director, Risk Strategies, Danna-Gracey, is that it’s not as easy as it looks. “There’s a whole movement of

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Social Inflation, Nuclear Verdicts Causing Concern in Insurance Industry

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By Vanessa Orr As jury awards have gotten larger over the past decade, it has had a significant impact on the legal environment, especially those awards being made against corporations and doctors. One of the reasons for this is social inflation, a term that is used to describe the increasing amount of awards that juries

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Why Professional Liability Insurance Premiums Continue to Rise

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By Vanessa Orr As if the past couple of years haven’t been difficult enough, physicians are now starting to feel the pain of medical professional liability rate increases. “Major carriers are really concerned about current rate adequacy,” explained Medical Malpractice and Workers’ Compensation Specialist Tom Murphy at Danna-Gracey, the largest  medical malpractice insurance agency in

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Updated OSHA COVID Regulations Mean Changes for Healthcare Employers

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By Vanessa Orr Each day there is more breaking news on the COVID front, and with the release of the Occupational Safety and Health Administration’s (OSHA) new guidelines for the healthcare industry on June 21, 2021, it’s important that those working in hospitals, medical practices, long-term care facilities and other healthcare operations be made aware

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