Defending Against Malpractice Claims

Medical liability insurance pays defense costs and generally covers claims for medical error and neglect. Even though medical claims against U.S. doctors are often dismissed and the verdict is usually in the physician’s favor when they go to trial, defending against a claim can be costly in terms of both time and money.

According to a study of more than 10,000 closed malpractice claims made against U.S. physicians during a recent three-year period, only about 55 percent resulted in actual lawsuits. Of the claims litigated, more than half were dismissed by the court. Less than five percent were decided by a trial verdict, which went in the doctor’s favor 80 percent of the time. Even dismissed lawsuits took more than 20 months. 

Note: According to the study mentioned above, malpractice cases that went all the way to trial typically lasted 39 months even if the doctor won.

Getting Back on the Road

If your auto insurance policy has lapsed, you should not drive uninsured. If the policy lapsed as a result of missing a payment, it’s best to contact your insurer directly to see if you can be reinstated immediately. Otherwise, going even a short time without coverage will place you in a higher risk category, which means that your premiums will spike.

In some cases, such as if you were in the military and stationed overseas or you have been in the hospital for an extended stay, you may be spared rate increases. If not, the best way to shop for a policy is to enlist the help of an independent insurance agent, who can take your specific circumstances into consideration.

Note: If you decide to cancel your auto insurance policy because you will no longer be driving, contact your insurance agent and find out how to cancel your policy officially.

Its a Wrap!

As the housing slump recedes, developers are looking forward to tackling projects with a sharp eye on margins. One proven way to manage risk and reduce insurance costs involves obtaining “wrap up” insurance, which derives its name from wrapping, or bundling, specified insurance risks into a single package.

This type of insurance dates back to the 1940s and has been more recently favored over the traditional approach of relying upon contractor insurance. Wrap up insurance protection, which includes all parties in a project (such as the owner, general contractor, and sub-contractors), typically provides insurance protection for workers’ compensation and general liability/umbrella liability. Pooling all parties’ risks into a single insurance program leads to a reduction in the program’s fixed costs. 

Note: Wrap up insurance coverage is limited to operations at the project site.