Overview of Insurance Coverage for Physician Practices
Driving Forces in Deciding Coverage
Lease agreements
Employment contracts
Insurance requirements of healthcare institutions
Public Goodwill
Peace of Mind
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Insurance Coverages That Should Be Considered
Physician’s Professional Liability (“MedMal”) General Liability Commercial Auto Employment Practices Liability Umbrella / Excess Liability Property / Extra Expense / Business Interruption Employee Dishonesty (“Crime”) Directors & Officers Workers Compensation Employee Benefits Copyright © 2007 Alliant Insurance Services, Inc. Confidential; not for distribution
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Insurance Coverages That Should Be Considered (cont’d)
Financial Services / Life Insurance • Family Protection • Mortgage Protection • Business Protection • Buy / Sell Agreement Life Insurance • Key Man Life Insurance Individual Disability Insurance • Family Protection • Business Protection • Partnership Protection Corporate Retirement Plans • 401(k) Plans • 403(b) Plans for NonProfit Organizations Personal Lines Insurance • Homeowner’s Condominium / Rental Properties / Renters • Automobile • Boats / Yachts • Valuable Items / Collectables • Umbrella
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Items to Consider in Choosing an Insurance Policy
Coverage form • Claims Made or Occurrence Admitted or Nonadmitted? • State tax and stamping fee of 5.10% for nonadmitted companies Exclusions • Punitive damages, Earthquake, etc. Limits provided • Per occurrence – Maximum Payout per loss • Aggregate – Maximum Payout per policy period Financial rating of the insurer • A.M. Best ratings:
Management ( A++ to F) Financial size (I to XV)
Premium • Auditable? • Payin terms? • Minimum premiums?
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Employee Benefit Considerations
Medical Coverage •
Products HMO & POS PPO & Indemnity
•
Underwriting Methodology
Dental • •
DHMO DPPO
Vision Group Life Group Disability
• •
California State Disability Long Term Disability
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Alliant Insurance Team Contact Information
Robert Larsen, Employee Benefits • Phone: 6198493889 • Email: rlarsen@alliantinsurance.com
Franco Ganino, Property & Casualty • Phone: 6198493794 • Email: fganino@alliantinsurance.com
Copyright © 2007 Alliant Insurance Services, Inc. Confidential; not for distribution
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“Thank You” and Questions
Copyright © 2007 Alliant Insurance Services, Inc. Confidential; not for distribution
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