Physician Professional Liability Insurance
Insurance Center of North Jersey is proud to offer a wide range of professional insurance products to our customers in New Jersey, New York, and Pennsylvania. Physician professional liability coverage is one of the most important types of coverage professionals in the medical industry can invest in.
With a decision this vital, we believe our 80 year history of serving North Jersey speaks volumes and invite you to learn more about the wide range of products we have available to help you meet your medical professional liability insurance needs.
What is Professional Liability Insurance for Physicians?
The long and short of it is that this type of insurance coverage helps protect physicians and many of their employees from medical malpractice claims. While it’s completely understandable that you have faith in your abilities, attention to detail, and quality of care, the fact remains that you don’t need to have done anything wrong in order face a long and costly courtroom battle to defend your business, your reputation, and your financial interests.
A physician professional liability policy is a medical malpractice policy that helps to cover the costs of your defense and may cover part or all of any monetary damages that are awarded in the event that the case is lost.
While some staff members are covered under the physician’s professional liability policy, assuming they work for you, some medical professionals will need additional policies in order to be covered. The following professionals will need their own policies.
- Nurse Practitioners
- Physician Assistants
- Certified Nurse Anesthetists
Always check with your independent insurance agent to see if you have other professionals in your practice that need individual policies, and to learn more about creating custom policies to meet the needs of your practice.
Are there Exclusions for Professional Liability Insurance Coverage?
All policies contain some exclusions. The items listed below are some of the common exclusions, though the list is not at all exhaustive.
- Illegal Conduct
- Sexual Impropriety
- Misrepresentations on Insurance Application (altered hospital or lab records, for instance)
- Others Insurers Specify
Of course, you should discuss policy specifics with your insurance agent as all policies vary somewhat in coverage and exclusions.
What are Policy Limits?
Most medical professional liability insurance policies have two limits. One limit is the maximum payout for a single claim and the other limit is the maximum payout within a year. Different medical industries will need higher limits according to the risks of lawsuits within those industries.
Some physicians may feel more comfortable purchasing additional or umbrella liability coverage to provide coverage beyond the limits of their standards professional liability insurance. It’s important to work with a local independent insurance agent who understand the local need for malpractice coverage so they can advise you on the amount of coverage you need for your area, the type of practice you own, and more.
Why Trust Insurance Center of North Jersey
Your physician professional liability insurance purchase is one of the most important you’ll make as a physician. You should choose an agency that’s an independent agency and one that has a long-standing history in the area.
Why is it so important to go with an independent agency?
Agents that are affiliated with one specific insurance provider can only offer a limited range of insurance plans and coverage options. Because of that, their interests are in selling you the policy they have, rather than working to sell you the policy that meets your needs best. We have an 80 year history of serving North Jersey – including NY, NJ, and PA and believe we have the right combination of products, coverage, and price to meet your medical malpractice insurance needs.
Call Insurance Center of North Jersey today at 201-525-1100 for a no obligation quote for physician professional liability insurance.