Things to Consider in Choosing a Medical Malpractice Insurance Company

In your medical practice, your choice of medical malpractice insurer is one of your most important decisions. You have many choices and medical malpractice insurance agents are undoubtedly beating down your door to write your medical professional liability insurance policy.

In general, you should choose a medical malpractice insurer that has great depth. You want a company with the depth of capital to manage an expensive case with a large payout. The last thing you want is a company with a shaky financial position. Fifteen years ago, there were approximately 40 medical malpractice insurance companies in Florida. Now, there is a handful. If a company exits the state, you could be left holding the bag.

You also want a medical malpractice insurer who has been in business for a long time. Nothing can take the place of experience when it comes to handling claims. You have the right to ask about local counsel and to look at a list of those medical malpractice attorneys who will defend you if you have a claim.

It is important to choose a company with a track record in your state. Each state has particular laws regulating medical malpractice insurance. Again, nothing trumps experience in a state if you are subject to a lawsuit.
Most solid physician malpractice insurance companies offer Risk Management Programs to help you avoid a medical malpractice claim. Being sued is an awful experience, regardless of the outcome. Taking steps to mitigate a claim is vital to your practice and your well-being.

Many malpractice companies offer loss free credits, group credits, society credits, dividends, and profit sharing plans. We have seen physicians take out considerable dollars at retirement by being insured with a company that offers these benefits.

Barbara Gracey Backer
Barbara Gracey Backer

Barbara Gracey Backer is the Vice-President of Gracey-Backer, Inc., an Insurance Agency in Delray Beach, Florida specializing in All Lines of Professional and Personal Insurance. She may be contacted at (561) 404-5746 or at

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