New Jersey policyholders’ surplus increased $7.8 billion to $564.7 billion at March 31, 2011, from $556.9 billion at year-end 2010. Additions to surplus in first-quarter 2011 included insurers’ $7.8 billion in net income after taxes, $3.9 billion in unrealized capital gains on investments (not included in net income), $1.5 billion
Are your computer records and patient information protected? A recent survey by research group Advisen found that despite increasing instances of cyber attacks, only about a third of companies that need cyber liability insurance coverage are protected. Most companies need cyber insurance but don’t realize they don’t have it until after a
The new year usually brings many changes in the medical malpractice insurance marketplace for physicians. Many doctors have professional liability insurance policies that renew in January. In the past, many companies have traditionally filed rate decreases in December that take effect for renewal business in the 1st quarter of the following year.
Georgia medical malpractice insurance premiums have been lowered due to multiple events that took place in 2011. Medical malpractice insurance carrier competition has created a Georgia marketplace where the physicians can benefit from lower costs of professional liability insurance coverage. The following changes contributed to the rate decreases many physicians are now seeing in
The State with the largest demand for medical malpractice insurance alternatives has been New York. The New York medical malpractice insurance market has long been considered overburdened with high claims severity and overregulated by a Department of Insurance that has virtually taken control over the pricing of policies for traditional carriers. New York implemented
Physicians across the country are now able to secure affordable stand-alone tail coverage. In an effort to contain the costs of tail coverage for physicians, Diederich has taken the steps necessary in order to be able to provide cost-effective stand-alone tail coverage for physicians. More frequent than ever, physicians have
Giving up or selling your private practice to a hospital or regional healthcare system can involve unexpected expense and exposure. This alarming nationwide trend is luring private practice physicians with the expectation of a perceived safe-haven by being employed with an organization that “provides” the benefits of health and medical
I recently assisted a local OB/GYN with obtaining high quality, affordable medical malpractice insurance coverage with an “A-rated” carrier when she believed that no standard, admitted carrier would be willing to cover her. Until her one-and-only claim was settled for $750,000, this physician had been practicing obstetrics and gynecology for
I received a phone call from an Internal Medicine specialist, located in Illinois, in the middle of January. His current Professional Liability (Medical Malpractice) Insurance Company had recently informed him that they were not going to offer coverage for some of the aesthetic procedures that he was already performing. The