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Professional
liability ("malpractice") insurance for podiatrists (DPM's) has
customarily been written on either a claims-made or occurrence basis, with
basic liability limits of $1 Million per incident, with a $3 Million
policy aggregate. Excess limits are generally available, either on
an individual basis or through a healthcare facility, such as a clinic or
a hospital.
Underwriting
is based upon a number of different factors, and each insurance company
has their own set of criteria:
 | NATURE OF
PRACTICE:
Obviously, some practices are far more prone to litigation than
others. Areas of podiatric medicine that are particularly
high-risk include major surgery, especially surgical treatment of
diabetic conditions. Premium costs aside, certain insurance
companies are simply more comfortable with certain practice profiles
than others. |
| LOCATION:
Where a podiatrist practices can have a significant impact on his/her
premium. Underwriters are keenly aware that courts and juries in
different jurisdictions often come up with vastly different verdicts.
For instance, in my home state of New York, doctors who practice in
Nassau or Suffolk Counties will pay a higher premium than, say, one
who practices in Manhattan (New York County) or Queens County.
Upstate practitioners will pay even less. |
| FULL
TIME / PART TIME: How
many hours a podiatrist practices each week is also a factor in
pricing the policy. Generally, 20 or more hours per week is
considered "full time" and under 20 hours is considered
"part time." |
| TEACHING
CREDITS: Some
insurance carriers provide discounts to podiatrists who spend a
significant portion of their time teaching. |
| CONTINUING
EDUCATION: While
the requirements vary from state to state, most insurers provide
discounts to podiatrists who attend certain continuing education or
loss control courses. Many insurance companies sponsor these
courses for their policyholders. |
| CONSENT TO
SETTLE CLAUSES:
Insurance companies will sometimes offer discounts to podiatrists who
agree to allow the insurer to decide when and if to settle claims.
It is my experience, however, that most doctors prefer to maintain
their right to consent to a settlement. |
| CLAIMS FREE
DISCOUNTS: A
number of carriers offer a discount to those podiatrists who have been
without claims for, say, five years or more. |
| RECENT
GRADUATE / NEW PRACTITIONER:
Most
insurance companies offer substantial discounts to podiatrists who are
just beginning their practice. These discounts are usually
graded, and disappear after 2 or 3 years. |
| CLAIMS
HISTORY: Obviously,
this is a critical factor. While every underwriter appreciates
the fact that in the increasingly litigious environment in the United
States, many doctors have had some degree of claims experience, an
underwriter will look carefully at the twin issues of
"frequency" and "severity." A
"frequency" issue might serve as a "red flag" to
an underwriter. "Severe" claims are looked at very
carefully, and are often analyzed by the underwriter's own claims
department before a decision is made. For a more in-depth
discussion of non-standard medical malpractice insurance for
"hard-to-place" professionals, please click here 
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Without
a doubt, the subject of professional liability insurance for podiatrists
and podiatric surgeons is complex. The "best" policy for
you, may not be the "best" policy for the doctor down the hall!
I
would be happy to discuss your particular situation in greater detail. You
can click here
and complete a brief inquiry form, which will allow me to get back to you.
Or, if you would prefer to, give me a call at 877-320-4061.
This number is available 24-hours a day, and it will automatically try to
find me, and will connect you to me if I am available. If I cannot take
your call, you will have an opportunity to leave a private voicemail
message, and will get back to you promptly. Of course, I can always be
reached via e-mail at, insurance@insurance4docs.com.
Thank
you for your time . . . I look forward to speaking with you.
Bruce R.
Swicker
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