Operating a medical practice today can be challenging. Having an insurance partner that will work with you to ensure you are properly protected at a reasonable cost year after year can be a huge asset to your success.
Your Medical Liability Insurance Partner
At SeibertKeck, we understand the demands of your job limit your time. In order to simplify the insurance process, we will partner you with an agent proficient in all areas of medical professional liability insurance. They will work with you to understand your organization and identify any potential risks. He or she will then build a coverage plan that satisfies all of your current needs, while keeping your costs to a minimum. A professional and responsive internal staff member will also support your organization in any way possible.
With SeibertKeck, you get a partner who is looking out for your best interest. Your agent will continuously work to find insurance protection and savings opportunities, giving you the ability to rest easy and focus on other priorities.
SeibertKeck's extensive experience with various medical practices and unique exposures
Our agents have experience working in a number of medical-related fields, including:
- Physicians (solo & groups)
- Oral Surgeons
- Home Health Care
- Surgery Centers
- Miscellaneous Facilities
- Allied Health Care
In particular, SeibertKeck Insurance has unrivaled knowledge in the Teleradiology market.
Available Forms of Medical Professional Liability Coverage
Comprehensive Medical Practice Protection:
- Business Owners coverage
- Fiduciary coverage
- Employment Practices Liability (EPL)
- Directors & Officers (D&O) coverage
- Cyber Liability (Electronic Health Records)
- Billing Errors and Omissions
Occurrence Coverage is permanent and guarantees that you are protected against a claim even if it happens after the termination of your policy or your retirement from medicine, provided the medical incident happened during your policy term and the carrier remains in business.
Unlike Occurrence Coverage, Claims-Made Coverage is not permanent. When a policy is canceled or replaced by another carrier, either a “tail” must be purchased for any past-policy medical incidents, or "prior acts” must be provided by the new carrier, meaning they assume the old policy exposure. This policy responds to claims based on when the claim was first made against you and your retroactive (start) date of coverage.
Tail coverage is normally provided at no additional premium in three circumstances:
- Death of the insured.
- Total and permanent disability of the insured.
- Total and permanent retirement from medicine of the insured as long as the insured meets that particular insurance carriers age and length of time insured requirements.
In other circumstances, each insurance carrier has their own rules and prices for the purchase of tail coverage. Tail coverage premiums are typically a one-time payment for an unlimited and permanent tail. However, some insurance carriers will only allow you to purchase a tail for a certain amount of time, after which you will have no coverage for any future claims.
Occurrence Conversion allows you to convert a Claims-Made Policy into an Occurrence Policy. The tail coverage premium is paid over a period of time and at a discount from what typically would be charged by an insurance carrier. At the same time, you purchase an Occurrence Policy.