BY VANESSA ORR When it comes to disability insurance, many physicians either choose not to have it or don’t have enough. This is mainly because they don’t believe they’ll ever need it—or because they believe that if they do have a disability claim, the carrier won’t pay. “Often the only time that physicians hear about
By Julie Danna Many of my clients hesitate to report a potential incident or claim to their medical malpractice insurance carrier because they fear a cancellation notice or the loss of claims-free credits. Have you had or do you know of an incident, claim, or potential claim that you did not report to your
BY VANESSA ORR While no one expects to become disabled, whether through illness or injury, it happens all too often, which is why it’s important for wage earners to carry disability insurance. This is especially true for medical professionals, who stand to lose a substantial amount of income as the result of a disability. “Doctors,
BY VANESSA ORR For more than 20 years, Florida’s Office of Insurance Regulation has put out an annual report on the condition of the medical malpractice insurance market that provides an inside look at insurers regarding strength, claims responses and more. The October 2020 report, which focuses on the top 20 medical malpractice companies in
By Steve Whalen According to Coalition, the leading cyber insurance company for small and midsize businesses, approximately 36% of claims reported by their policyholders occurred due to a business email compromise. These claims resulted in a range of losses, from ransomware, social engineering, and funds-transfer fraud to regulatory penalties and data-restoration costs, among others. Each
BY VANESSA ORR For the last year-and-a-half, a hard market has been unfolding in the medical professional liability sector, which provides malpractice insurance. And with a recent announcement by Lloyd’s of London, it looks like the difficulties the sector has been facing are about to get even worse. “Lloyd’s of London just announced that in
By Vanessa Orr As businesses begin to open back up, employers are facing a myriad of issues pertaining to employee and patient safety. Some employees are ready to work but are afraid of contracting the virus; others may refuse to follow CDC guidelines, despite these rules being in place to ensure a safe reopening. Still
By Vanessa Orr It was already a perfect storm: the medical malpractice marketplace was hardening considerably as a result of insurers losing money not just in Florida, but in almost every state. Claims frequency was slowly rising as claims severity rose at a rapid pace; yet pricing had been kept very low because of the
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
By Matt Gracey What a spicy, hot pandemic stew of lawsuits is brewing in America! This is particularly true in the healthcare world since this is a mother lode of a healthcare crisis. Simmering now and headed to a boil are incredibly strong factors: Fear; sadness; isolation; divisiveness; suspicion; and distrustfulness of authority, of others,