Frequently Asked Questions About Medical Malpractice Insurance

How can I purchase malpractice insurance?

You can obtain a policy through a licensed broker who specializes in professional liability insurance, buy directly from an independent insurance provider, or a physician-owned mutual company.

How does PRMS  Insurance Services help me get quality coverage at affordable prices?

Our agents have access to many medical malpractice insurance providers and can submit your application to a variety of companies very quickly. Our sole focus is finding you the right amount of coverage for your specialty. Some brokerage firms say that they can get you the “cheapest” rates, but the coverage might not be sufficient. We want to get the coverage you need at the best possible price.

What does medical malpractice insurance cover?

Malpractice insurance will help cover legal costs and lawsuit damages that may arise from a settlement. This will relieve the burden of paying out-of-pocket to hire your own lawyer and damages (up to your policy limit) that the court may impose if you lose the case.

I am already covered through my employer. Why should I get an individual policy?

Although your employer’s malpractice insurance policy will cover attorney and court-related costs due to a claim, the attorney’s client is actually the employer, not you. When you have an individual policy, you can get your own attorney who has your best interests at heart and will be there to serve you. Also, when you have your own insurance, your assets will be protected if a plaintiff decides to personally sue you for malpractice.

Aren't all policies the same?

There are different types of policies depending on your medical specialty. If you’re in a high-risk specialty, your income will determine the coverage limits of your policy. When you work with a licensed agent, he/she can help determine the best policy and the right amount of coverage for you.