Physicians and groups may have exposure to risks that their Medical Malpractice Insurance Policy doesn’t cover. A growing trend with MedMal carriers is to include some coverage for additional risks traditionally excluded. As an example, Medicus Insurance Company adds their Gold Advantage endorsement at no cost to all MedMal policies. This includes coverage for HIPAA Violations, Medical Board Reviews, RAC Audits, and more.
But even if your policy includes coverage for these additional risks, it may not be enough. The endorsements are a good start but they have low liability limits and sometimes high deductibles. Some carriers do not include this type of coverage, and many specifically exclude these exposures. So how do you protect your practice?
The best way to protect yourself and your practice is to purchase a separate Medical Defense Policy. We now have access to the best program on the market. Policies include $1M/$1M liability limits, zero or very low deductibles, Cyber coverage for loss of data and recovery costs, coverage for RAC Audits, Billing Fraud, HIPAA Violations, and EMTALA Violations. Premiums are very reasonable for solo practices and large groups.
If you don’t have a Medical Defense Policy give your Keane representative a call, or send us an email and we’ll get you a free quote.