Insurance Coverage Lines
Healthcare Professional Liability
Healthcare professional liability insurance coverage is designed to protect healthcare professionals (e.g. physicians, physician assistants, nurse practitioners, etc.) against liability incurred as a result of errors or omissions (“malpractice”) in performing professional services. Typically, professional liability policies cover economic losses suffered by “third parties,” as opposed to “first party” bodily injury and property damage.
Historically, healthcare professional liability insurance policies were written on both occurrence and claims-made basis, the latter was initially the less expensive of the two options, but progressed to mature premium levels in subsequent years. Hence very few, if any, insurance carriers offer this coverage on an occurrence basis within the recent marketplace.
There are a multitude of programs available in the marketplace, such as retention options ranging from first dollar coverage (no deductible) to large self-insured retentions, primary limits of liability designed to address predictable scenarios, and high excess levels of liability in place to deal with catastrophic occurrences. These are only a few available programs, hence an immense amount of attention to detail must be employed when analyzing all viable options.
Chivaroli & Associates is an expert in this field of insurance, thus providing an abundant supply of resources accessible to your organization. Insurance specialists will work closely with you in order to ensure that all of your organization’s expectations and issues are considered when designing and securing the most applicable healthcare professional liability insurance program.
Definitions – Terms of Insurance