Malpractice Insurance

Hospitals Insurance Company (HIC) provides insurance coverages and services to hospitals, long-term care facilities, physicians, health care professionals, and agencies in the state of New York.

MagMutual has kept 95 percent of claims brought against its insured physicians and hospitals from going to trial. Of those that did end up in court, it has won 80 percent of cases.

In 2018, the company completed a conversion from a mutual insurance company to a stock insurance company. It was also acquired by National Indemnity Company, a subsidiary of Berkshire Hathaway.

Founded in 1899, Medical Protective Group (MedPro) is the oldest professional liability carrier in the U.S. Today, the company remains an industry force as one of the top writers of medical malpractice insurance in the country.

NORCAL has carried an A (Excellent) rating form A.M. Best for 34 consecutive years. In 2017, NORCAL reported direct written premium of $332 million.

As a doctor, it is good practice to maintain records of every patient that you treat. When a medical negligence lawsuit is brought against you, the claimant’s attorney will look for weak spots in your records to use against you.

The Doctors Company is rated “A” by both A.M. Best Company and Fitch Ratings. As a member-owned insurer, The Doctors Company regularly pays dividends to those it insures.

ProAssurance Group is rated “A+” (Superior) by A.M. Best. The company has also been recognized as a Ward’s 50 Top Performer every year since 2007.

Under your employer's group malpractice policy, you may not have a consent-to-settle clause. The employer owns the policy, which means there's a strong chance it owns the consent-to-settle.

Occurrence coverage is the preferred type of malpractice insurance for most medical professionals, however it's not available in all states. Claims made coverage is more readily available and some carriers only offer this option.

In addition to the higher risk, some specialists will also require higher limits of liability coverage. Therefore specialities that fall into a riskier category will require higher premium rates.

One of the most important factors when choosing a carrier is its financial strength and stability. After all, if you’re required to pay a judgement of, say, $1 million, you need your insurance company to be able to write that check.

One of the complexities of malpractice insurance is that several years can elapse between a patient’s treatment and a claim of malpractice. More time will go by while that patient’s suit