Nexus Insurance Services Offers Tips To Medical Professionals Shopping For Medical Malpractice Insurance

RANCHO SANTA MARGARITA, CA, December 23, 2010

With a new year just around the corner and malpractice insurance policies up for renewal, many doctors, physicians, and other medical professionals will be shopping around to get better rates. Although medical malpractice insurance is not required by every state, it should still be a consideration given the litigious society that we live in. Every day doctors put their career at risk when they don't have malpractice insurance to cover them in case a patient decides to file a claim.

According to the Bureau of Justice Statistics, based on suits occurring in the 75 largest counties in the US:

* 90% of all medical malpractice lawsuits are brought by patients who have suffered permanent injury, or by those representing someone who has died as a result of malpractice.

* Almost half of all medical malpractice lawsuits filed in the US are brought against surgeons.

* Nearly 33% of medical malpractice lawsuits are attributed to non surgeons.


Michael Kataf of Nexus Insurance Services offers these five tips to medical professionals who are shopping for malpractice insurance:

1. Malpractice insurance policies are not the same. Find out what is and what is not covered under any type of policy. There is insurance that will only provide coverage for direct patient care and will not cover care outside of a certain geographical area. There are other policies that will cover all work-related functions or activities outside of patient care such as supervision of residents, committee work, or volunteer work. It's important to communicate to your insurance broker or insurance provider all the different types of activities you will be performing and to find a policy that suits your specific needs.

2. Insurance carriers vary in the way that they are structured, plus they offer different types of services. Just because one company offers a certain policy doesn't mean another company is going to offer the same thing.

3. Understand the basics of medical malpractice insurance and know that there are different types of coverage: claims-made, occurrence and claims-paid coverage. The most common type of policy is claims-made coverage. Claims-made policies cover a medical professional for any claims that are reported to the insurance carrier during the policy period.

4. Be informed of what happens when a lawsuit or claim is filed.

5. When comparing premiums, take into account the details of the policies and the services of the carriers to be sure they are the same. If a rate is really low compared with those of other companies, find out why.

"Medical malpractice insurance is not something that medical professionals really want to think about, but it can make play a huge part in their career," says Kataf. "On top of that, they can rest easy knowing that if the unexpected were to happen, they will be protected."

For more information, please visit: Visit: http://www.nexus-insurance.net

Nexus Insurance Services is a professional insurance broker that has helped many doctors, lawyers, realtors, and business owners gain access to insurance providers for their practice or business. The company's mission is to be a firm that brings real value to clients, builds personal relationships on top of business ones, and always conducts itself with sincerity, integrity and fairness. .Because of the relationships with many providers, the company is able to shop a client's application around to get the best rates. Contact Nexus Insurance for a free, no obligation quote on medical malpractice insurance, professional liability insurance, or workers compensation insurance.