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 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.
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.
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.
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 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.
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 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.
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.
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 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.
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 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.
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:
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.
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