Professional Liability – Medical Malpractice Insurance

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The healthcare landscape has changed significantly over the last decade or so with physicians facing tougher compliance requirements and new regulations and reforms. This has obviously made them even more vulnerable to Medical Malpractice allegations and claims. As with any other Professional Liability insurance line, the coverage required for physicians is complex and requires the knowledge of a specialist who understands the exposures and the type of products available.

ELM, a national professional liability wholesale facility, is the specialist that can help you secure the policy your insureds need. We have the experience and the markets to design a Professional Liability insurance policy that addresses the specific risks a doctor may face in his or her area of specialty. What’s more, within each specialty you may have find many categories, each one with its own unique exposures and coverage requirements which at ELM we can provide. Our staff will assist you in honing in on the right type of policy for the physicians you are insuring.

Cyber Risks in Healthcare

At ELM, we also have our finger on the pulse of an environment that is changing the way physicians practice, leaving them open to emerging trends and risks. With electronic record keeping and billing and tougher privacy requirements, we’re seeing an increase in data breaches that come with tougher penalties and fines being levied under HIPAA and the HiTech Act. In fact, medical identity theft claimed more than 1.8 million U.S. victims before the end of 2013.*

To protect themselves, physicians need the addition of Cyber Liability insurance as part of their Professional Liability strategy. In the event of a breach, Cyber Liability will provide doctors and their practice with the financial security to pay for patient notification, forensics to determine the cause of the compromise, credit monitoring, defense costs reputation, PR management, etc. Many policies can also be designed to respond in the event of regulatory penalties and fines. The staff at ELM will help you place the appropriate Professional Liability insurance that encompasses cyber and network security exposures.

Partner with ELM in providing Professional Liability coverage for physicians.

Depending on the physician’s area of specialty, it’s estimated that anywhere from 75% to 99% of practicing doctors will over the course of a lifetime be threatened with a lawsuit. We can help you design a Medical Malpractice product for your insureds. Contact us for more information at (310) 322-1301.


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