Soft vs Hard Insurance Market
What is a soft and hard insurance market anyways? In the most simplest terms, a soft insurance market means that rates are steady or decreasing year over year, while a…
What is a soft and hard insurance market anyways? In the most simplest terms, a soft insurance market means that rates are steady or decreasing year over year, while a…
So, what's the difference between the two? General liability insurance protects businesses from claims of damages due to the business' operations. This can include things like damage to property, personal…
Home healthcare is expected to be the fastest growing sector over the next ten years. This rapid pace of growth has expanded the market. Many entrepreneurs are getting their piece of the pie through homecare agency ownership. This expansion has also brought on an influx of insurance brokers and carriers that now serve the industry. These brokers and carriers may not have the experience, as they may not have served the industry in the past.
If a medical practice doesn't already have this, we strongly recommend having an employment agreement document with your providers.
Traditionally, physician practices have been purchasing Professional Liability/Medical Malpractice insurance through Admitted Insurers (e.g. Medical Protective, ProAssurance, TDC, PPIX, and MAG Mutual).
We live in a very litigious world. Even when healthcare workers do their best, sometimes patients are not grateful and turn to lawyers for even the slightest mishap. Malpractice lawsuits are very common in the healthcare profession.