Insurance for Hard to Place Physicians

Finding insurance as a hard-to-place physician can be a daunting challenge, but it’s an essential step in safeguarding your career and financial stability. Whether due to a history of malpractice claims, disciplinary actions, or practicing in high-risk specialties, being classified as hard-to-place doesn’t mean you have to go without the protection you need.

Specialized malpractice insurance policies are designed to address your unique circumstances, providing the coverage required to protect against legal claims, meet hospital credentialing requirements, and maintain your ability to practice.

How difficult is it to source Insurance for Hard to Place Physicians?

Navigating the complex terrain of medical malpractice insurance can be particularly challenging for physicians who have faced board actions or have a claims history. These professionals, often termed as “hard to place” or high-risk physicians, may find themselves in a precarious position when seeking the necessary insurance to practice medicine.

Understanding the Challenge

Medical malpractice insurance is a critical component for physicians, offering protection against legal claims regarding their professional practice. However, insurers often assess the risk of insuring a physician based on past claims, disciplinary actions, or board sanctions. This risk assessment is crucial, as it influences the insurer’s decision on whether to offer coverage and at what cost. Physicians with a history of legal challenges or claims are frequently deemed high-risk, making it difficult for them to obtain traditional malpractice insurance. This classification as “hard to place” stems from the insurer’s perspective that past incidents may predict future claims, thereby increasing the insurer’s risk exposure.

The Impact of Being Hard to Place

The designation of being a high-risk physician has significant implications. First, traditional insurance carriers may outright refuse coverage, leaving these professionals in a vulnerable position without the necessary protection against potential claims. In the event that coverage is offered, it may come at a prohibitively high cost, reflecting the increased risk.

Westwood Insurance understand these challenges and have a wealth of experience in sourcing suitable insurance for medical professionals in the ‘hard to place’ category. Contact us now and let’s get started in finding a suitable solution for you. Contact us now.