Posted on: December 27, 2023 by Huntersure
Because of increasing contractual requirements and higher litigation costs, professionals need to start seeking higher malpractice insurance limits. Agents at Huntersure Insurance are aware of this need and are prepared to help professionals through the Excess Allied Healthcare Program.
This program will give professionals the coverage they need with the desired flexibility. Ensuring they have the limits they need on their Allied malpractice insurance plan can protect them if they experience a lawsuit.
There are several reasons why professionals need higher malpractice insurance limits in the medical field. Contracts have higher requirements for insurance limits, so professionals may need to have a higher limit to be in compliance with their contracts.
Malpractice suits may be more common than people think. According to American Medical Association benchmark data, nearly 2% of physicians face a malpractice lawsuit each year. The risks also increase over time, with over 30% of physicians reportedly being sued at some point in their careers.
Although many cases get resolved outside court, settlements and legal fees can still be costly, and having an insurance plan with a higher limit ensures medical professionals have the coverage they need throughout the process. The goal should be to prevent these lawsuits through risk mitigation strategies, which involve evaluating and assessing the risks and how to prevent them from happening.
Huntersure Insurance is here to provide clients with Allied malpractice insurance needs. Huntersure LLC agents recognize and are prepared to address the need for higher limits on malpractice insurance.
The Excess Allied Healthcare Program offers tailored solutions for medical professionals, giving them the coverage they need to focus on doing their jobs without fearing what could happen in the event of a malpractice suit. The flexibility gives them the freedom to find the plan that will work best for them and can help them find the limits they need.
Working with an insurance agent is critical to ensure clients are covered everywhere they need. Higher limits often mean a higher premium, but it’s important not to cut corners or reduce coverage in other areas to make up the difference.
An agent can help ensure the plan is comprehensive and offers coverage in various circumstances.
Having a higher Allied malpractice insurance limit is crucial for healthcare professionals to ensure they have the necessary coverage in the event of a lawsuit. Educating Allied professionals on the need for this higher malpractice limit will ensure they can find the right insurance plan for them. To learn more about professional liability insurance for the Allied Healthcare sector, contact Huntersure LLC.
Huntersure LLC is a full-service Managing General Agency that has provided insurance program administration for professional liability products to our partners across the United States since 2007. We specialize in providing insurance solutions for businesses of all sizes. Our program features can cover small firms (grossing $2.5 million annually) to large corporations (grossing $25 million annually or more). We make doing business with us easy with our breadth and depth of knowledge of E&O insurance, our proprietary underwriting system that allows for responsive quoting, binding and policy issuance and tailored products to meet the needs of your insureds. Give us a call at (855) 585-6255 to learn more.
Posted in: Allied Healthcare