Hard to Place Professional Liability

Medical professionals can’t afford to go without adequate professional liability insurance. Unfortunately, many medical professionals find themselves in a position where they are denied coverage, had their policies canceled, or face an insurance provider’s refusal to renew this critical coverage. However, you should know that there are options available for hard to insure medical professionals. We can help you find it.

Why do Insurance Providers Refuse to Insure, Cancel Policies, or Decline Renewals?

You would think that insurance companies would be glad to have the business. But, insurance providers are all about managing risks – including their own. There are certain professionals or practices they find unpalatable due to the nature of their risks.

One or more of the following possible reasons is enough to have some insurance providers declining coverage to medical professionals.

  • Actions by state review boards
  • Claims made against you.
  • Complex specializations
  • Licensing issues or disputes
  • Limiting practice to weight loss medicine
  • Operating in multiple states
  • Practicing alternative medicines
  • Practicing bariatric medicine
  • Practicing outside of your specialization
  • Practicing solely as a locum tenens professional
  • Practicing telemedicine
  • Risky practice locations (nursing homes and/or correctional facilities)
  • Suspension of license resulting from impairment
  • Use of non FDA-approved treatments and/or medications
  • Using experimental treatments

It only takes one claim made against you for some insurance companies to push you off into their non-standard insurance coverage category. With that classification comes higher premiums and coverage that may be less than ideally suited for your specialized needs as a healthcare professional.

What Kind of Professional Liability Coverage Do You Need?

Your specific needs as a healthcare professional will vary to some degree according to your field or practice of medicine and your role in the healthcare industry. For instance, dentists and physicians have different needs when it comes to insurance.

You don’t have to work in the medical field very long to understand how important it is to have professional liability insurance. What you might not understand is the importance of having the right kind of coverage for your practice, the field in which your practice, and your role when it comes to providing care for patients.

It’s also important to work with an insurance agency, like Insurance Center of North Jersey, that will explain the various choices of coverage available to you, such as occurrence based professional liability insurance, claims-made liability insurance, and tail insurance.

Understanding the differences between the policies and the strengths and weaknesses of each will help you find the policy that provides the best possible coverage for your situation. It is especially important because medical liability claims are not always filed at the time of the “event.” In fact, some are filed years later.

We’ll help you get the right kind of professional liability coverage you need as a healthcare professional and help you determine the amount of coverage you’re most comfortable with based on your circumstances.

We understand that you’re only human. Honest mistakes happen all the time. We don’t believe an honest mistake should prevent you from getting the insurance coverage you need to protect yourself as a healthcare professional. That is why we’ll work to get you the professional liability insurance protection that is essential for you to continue helping others.

Why Work with ICNJ for Your Hard to Place Professional Liability Coverage?

Insurance Center of North Jersey has more than 80 years of experience serving businesses throughout North Jersey. We believe in taking the hassle out of the insurance buying process while also offering a wide selection of quality insurance products. The most important thing we have to offer though is our superior customer service. We treat you like the person you are and work tirelessly to ensure your needs are met with the right kind of insurance coverage. Period.

It takes dedication and commitment to become a healthcare professional. Receiving a notice that you’ve been denied for professional liability insurance or that your insurance provider has decided to cancel your policy (or decided against renewing your policy) can feel devastating. We don’t believe you should have to choose between the career you’ve dedicated so much time and effort to build and the financial security of your family.

Email or call Insurance Center of North Jersey at 201-525-1100 for a free rate quote and to learn more about your professional liability insurance options, even if you’ve had claims made against you in the past.