Malpractice Insurance

The Merrill Insurance “Mal” (malpractice) team specializes in creating meaningful value and bringing viable customized malpractice and other protective solutions to our healthcare industry clients. As dedicated and trusted advisers, we partner with our clients to protect their best interests and deliver optimal resources through our expertise and passion for service.

For example, would you like to receive a dividend of up to 30% on your annual workers’ comp insurance? Of course you would. And that is just one opportunity the Merrill Insurance Mal team can share with you in our effort to ensure you are taking advantage of every protection and financial benefit available to you and your practice.

That’s because our focus is on helping physicians, medical offices, medical groups, hospitals, and affiliated healthcare organizations bring peace of mind to their practice, staff, patients and bottom line.

Merrill Mal(practice) Provides

Merrill Mal is a specialty division within Merrill Insurance designed to focus exclusively on all the insurance and risk management needs of doctors and other healthcare professionals. What makes Merrill Insurance different is our holistic approach to reviewing ALL your insurance policies, as well as organizing and coordinating efficient programs that fit your needs and budget (one-stop shopping).

Merrill has a successful 90-year track record and works diligently to keep your best interests in mind. Our mission is to deliver the best insurance and risk solutions through our expertise and passion for service. Contact us to schedule an insurance review today!

Medical Malpractice and Liability Insurance

Medical malpractice insurance is a professional liability insurance which protects against claims of medical negligence resulting in patient injury, mental anguish or death. It is essential for healthcare professionals, and required by law in most states. Coverage includes protection from a range of expenses such as attorney’s fees, settlement costs, and bodily or property damages.

Medical Defense Coverage

Medical Defense Solutions (MDS) provide an alternative for physicians who go bare and have an aggressive asset protection program in place. MDS offers access to Florida’s top medical malpractice attorneys, with discounts of up to 50% with pre-negotiated, hourly legal fees.

Medical Office Property and Liability Insurance

Also known as a Business Owner’s Policy (BOP), Medical Office Property and Liability Insurance is very similar to homeowner’s insurance in that it helps protect your medical business or healthcare facility. Coverage includes physical property damage, loss of income due to property damage, claims against bodily injury, medication spoilage reimbursement due to power failure, crime insurance and more.

Directors and Officers Liability Insurance

As a Board Director or Officer, it is in your best interest to have Directors and Officers Liability Insurance (D&O) to protect against claims made in relation to alleged incidents that occurred during your time of service. Such incidents may include: fraud, breach of duties or contracts, mismanagement, etc.

Billing and Coding Errors

Medefense coverage (Medicare fraud/abuse) is different than Cyber Liability as it is a uniquely effective insurance solution for healthcare providers facing the challenges of Medicare and Medicaid Billing Audits. The recent expansion of government regulations makes healthcare providers vulnerable to allegations of fraud, abuse and misuse of private healthcare information. Medefense coverage includes protection from legal defense costs, civil fines and penalties for allegations related to Billing Errors, HIPAA, EMATALA, and STARK violations.

General Liability Insurance

General Liability Insurance helps protect against claims related to bodily injury, property damage, and medical expenses due to bodily injury on your premises, along with reputational injury such as libel, slander, false advertising, copyright infringement, violation of privacy, wrongful eviction, etc.

Professional Liability Insurance

Otherwise known as Errors and Omissions Insurance (E&O), Professional Liability Insurance protects you and your employees against claims made in relation to professional mistakes or oversight (errors and omissions). Coverage typically includes attorney’s fees, court costs, and settlement expenses, up to the policy limit.

Workers’ Compensation Insurance

Workers’ Compensation Insurance is required by Florida law for any non-construction business owners with four or more employees. Coverage provides income, medical care and rehab services for employees with work-related illnesses or injuries. Workers’ Compensation Insurance also helps protect employers against lawsuits involving work-related illnesses or injuries.

Employment Practices Liability Insurance (EPLI)

Many employers have been confronted with alleged claims of wrongful hiring or termination, failure to promote, discrimination, defamation, retaliation, sexual or workplace harassment, and many other types of employment-related issues. Employment Practices Liability Insurance (EPLI) provides protection against such claims from past or present employees. It also protects against third-party claims from vendors, independent contractors, etc.

Key Man Insurance

In the unfortunate event that your business suffers the loss of a vital team member from death or permanent disability, Key Man (or Key Person) Insurance provides financial support for the loss of sales, decreased production, cost of hiring and training a suitable replacement, etc. Key employees may include top salespersons or those with highly specialized skills, intellectual property or leadership roles.

Cyber Liability Insurance

Cyber liability protection is essential for large and small healthcare providers that utilize internet services. Cyber policies cover a business’ liability for a data breach in which personal identity information, such as health insurance data, social security or credit card numbers is exposed or stolen by a hacker or other criminal who has gained access to the firm’s electronic network. The policies also cover a variety of expenses associated with data breaches, including: cyber network security and privacy, patient notification costs, credit monitoring, costs to defend claims by state regulators, fines, penalties, and loss resulting from identity theft, cyber extortion and terrorism. In addition, the policies cover liability arising from website media content, as well as property exposures from: (a) business interruption, (b) data loss/destruction, (c) computer fraud, (d) funds transfer loss, and (e) cyber extortion. So, you will certainly get your money’s worth when it comes to coverage and being protected.

ERISA Bonds / Fidelity Bonds

If you are the fiduciary of an employee benefit plan, the Employment Retirement Income Security Act of 1974 (ERISA) requires you to purchase a fidelity bond equal to at least 10% of the total funds in your plan to protect against losses due to fraud or dishonesty. Alleged claims against fiduciaries commonly include: administrative errors, theft, misappropriation, forgery and more. The minimum bond limit is $1,000 per plan, and the maximum is $500,000; or $1,000,000 for plans holding employer securities.

Business Auto Insurance

Business Auto Insurance is essential for any business whose employees use either their own vehicles or company vehicles for business purposes. An employee’s personal auto insurance policy will not typically cover losses from a car accident while on the job. Business Auto Liability Insurance helps cover expenses from bodily injury or property damage associated with an accident caused by you or an employee while operating a vehicle on the job.

Asset Protection

In any malpractice lawsuit, both your personal assets and practice assets may be susceptible to loss. Proper asset protection for doctors, dentists and other medical professionals is essential in this age of continual litigation exposure. Our Merrill Mal team can provide you with peace of mind, by customizing a comprehensive malpractice insurance plan to transfer risk and help protect your assets.

We’re happy to serve the following clients seeking medical malpractice insurance throughout Florida and the entire Southeast:

Physicians and Surgeons
Dentists
Nurse Practitioners
Medical Groups
Urgent Care Centers
Oral Surgeons
Psychologists
Pharmacists
Optometrists
Physical Therapists
Occupational Therapists
Medi-Spa Facilities
Surgical Assistants
Chiropractors
Physician Assistants
Podiatrists

Common questions we receive from our medical professional clients:

What is Claims-Made Coverage?

Claims-made coverage protects against alleged incidents that both occur and are reported during the insured’s active policy period. Therefore, any claims made outside of the insured’s active policy period will not be covered, even if the alleged incident occurred during the time of coverage. When a claims-made policy terminates, “tail” or extended reporting period (ERP) must be purchased as an endorsement to keep the policy open and active for claim reporting.

What is Occurrence Coverage?

Occurrence coverage protects against claims that occurred during the insured’s active policy period, regardless of when the alleged incident took place. Therefore, an occurrence policy will cover claims that arise even after the policy has ended, as long as the incident occurred during the active policy period.

What is Tail Coverage or Extended Reporting Endorsement (ERE)?

Tail coverage or ERE protects against claims reported after a claims-made policy has ended and it keeps the policy open specifically for claim reporting purposes. Tail also satisfies medical license and financial responsibility requirements for physicians who transition to new policies when they cannot include prior acts coverage. Tail coverage is ideal for medical professionals who are faced with terminating their claims-made policies due to incidents such as: leaving one practice to join another, merging practices, leaving a hospital group to join a practice, moving to a new state, retiring or permanently leaving the medical field. There are many options to consider and an experienced Medical Professional Insurance Specialist should be involved in navigating most viable options.

What limits of liability should I carry?

When it comes to medical malpractice insurance, the amount of liability coverage you need depends on a variety of factors including: risk tolerance, income, assets, location, affordability and more. Our Merrill Mal team will be glad to discuss your options and tailor a proper policy to suit your needs.

Merrill Mal(practice) Provides