Every medical practice needs insurance coverage that completely protects them against medical malpractice suits. Understanding the importance of coverage for corporate entities and medical practices can help physicians make the best choices when it comes to protecting their practice.
What is Considered a Corporate Entity?
A corporate entity describes an organization in which a physician operates primarily which can be a Professional LLC, Partnership, LLP, or Professional Service Corporation. If the physician is practicing within this organization, they will need to have enough medical coverage. The importance of coverage for corporate entities can never be overstated as today’s attorneys are likely to name anything and everything when filing a malpractice claim.
Which Corporate Entity is Eligible for Coverage?
Understanding which type of corporate entity is eligible for coverage is an important first step in choosing the right coverage. As long as the practicing physician is a part of the LLP, LLC, or Partnership and actively practices medicine under the organization, they will be eligible for coverage. Comprehending importance of coverage for corporate entities and medical practices is a major factor in selecting the best insurance policy.
Finding the right coverage
Every physician understands the importance of coverage for medical practices however they may not know the best way to find the right options. The best thing about navigating the sea of insurance options and carriers is that there is always help available from professional insurance brokers. These brokers know the ins and outs of coverage offered for corporate entities and can provide the best advice on how to choose the right amount and the most appropriate type of coverage. For example, PriMed can help you to detrmine if you need separate or shared limits of liability, or perhaps defense only is adequate. Also, PriMed has access to carriers offering free corportate coverage which can greatly reduce the overall cost of malpractice insurance.
A company such as PriMed Consulting can offer exactly the assistance that is needed. They will provide in depth meetings and assessments to determine the level of coverage needed by your practice. They offer complimentary consultations and they are committed to finding the best solutions for their customers. They are insurance brokers with their primary loyalty being to their physician clients. Their aim is to provide accurate and comprehensive solutions that ensure your medical practice is successfully covered with all the right insurance options.
PriMed Consulting has a strong understanding of the importance of coverage for corporate entities and medical practices. Let them assist you with making the best insurance options for you. They offer Physicians Reciprocal Insurance as well as coverage from MLMIC for physicians in need of this type of coverage. Experience the difference that comes with using the services of an experienced professional insurance broker today.