Medical Professional Liability / Malpractice Insurance
Medical professional liability insurance coverage for physicians and healthcare institutions is our core offering, providing protection against allegations of medical malpractice. Coverage can be tailored to individual practices, medical groups, clinics and all of the various specialties.
Regardless of the specific type of practice, most medical practitioners will experience a malpractice claim at some point in their career, and the financial as well as emotional effects of defending against such claims can be substantial. Even when successfully defended, the costs of a medical liability claim can lead to devastating personal and professional damage.
Selecting the right malpractice insurance policy requires careful analysis, and Cunningham Group has extensive experience helping physicians purchase insurance policies that cover both their medical as well as their business liability exposures. We can get you the best coverage at the lowest possible rate.
Because each state has its own liability requirements and limitations, our team of insurance professionals is trained to be regional experts. We can match you with the right coverage to afford you peace of mind.
Why is Medical Malpractice Insurance Necessary?
Aside from the legal requirements that exist in most states, there are three reasons that malpractice insurance is a necessity:
1. Adverse Outcomes Happen – Whether physician error is involved or not, adverse outcomes happen in medicine. Adverse outcomes can lead to claims of malpractice, and medical liability insurance will defend you against those claims. The right insurance product will fund your defense as well as settle claims out of court when appropriate. Most of today’s medical liability policies have a consent-to-settle clause that requires the physician’s approval prior to any settlement offer.
2. Our Legal System – The United States is a litigious society, and our justice system creates incentives for litigation. Contingency fee arrangements, the presumption that every adverse outcome must be someone’s fault and cases that involve complex medical procedures presented to a jury of laypersons contribute to a system that is seriously flawed;
3. The Commercialization of Medicine – With the consolidation of hospital systems, the increase in large specialty groups and the systemic move toward accountable care organizations that will guide patients through the various stages of healthcare, the practice of medicine in today’s society looks more like big commerce than personalized care. And the Affordable Care Act is expected to add millions of new patients to the system, further depersonalizing the healthcare experience.
Medical professional liability insurance is a necessary cost of doing business, and it is essential to the success of each physician and medical institution to find the most adequate and cost-effective medical liability coverage. Cunningham Group will help you find the ideal terms for your medical professional liability needs at the best available rates, whether you prefer large deductible or traditional first-dollar coverage. Contact us now for a no-obligation consultation to let us show you how we can improve your protection and reduce your costs.
To find out more about how Cunningham Group can help you with your Professional Liability needs, please fill out the form below or call us at 866-824-0137.