U.S. Risk Launches New Physician Med-Mal Product

October 2, 2006

Dallas, Texas-based U.S. Risk Underwriters, a specialty lines underwriting manager and wholesale broker, introduced a new medical malpractice insurance product for physicians practicing as medical directors in long-term care facilities, including skilled care, assisted living and continuing care retirement communities (CCRCs).

The medical malpractice policy has limits to $1 million/$3 million, a standard deductible of $5,000 and a consent-to-settle with a hammer clause. The policy includes a condition that requires long-term care facilities to cover the medical director’s administrative duties and carry equal professional insurance limits or policy limits become lower ($100,000/$300,000).

Coverage is offered through an “A”-rated carrier and is available initially in California, Ohio and Texas on a claims-made basis with an incident-sensitive policy form.

“Physicians who serve as medical directors in long-term care facilities have had difficulty finding adequate medical malpractice coverage,” said Art Seifert, president of U.S. Risk Underwriters. “This medical malpractice policy is a quality product that meets this need and continues to position the U.S. Risk ElderCare program as one of the most comprehensive in the country.”

The medical malpractice policy includes claims handling services and professional risk management services, including online continuing education, a resource guide and helpline.

Agents and brokers looking for more information should contact Linda Morse, vice president at U.S. Risk Underwriters, at 281-249-4934 or lindam@usrisk.com.

Source: U.S. Risk Insurance Group

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