Climate Change Project

Table of Contents



<< >> Up Title Contents


There are three critical considerations for buying malpractice insurance. First, policies must be evaluated on their potential long-term costs. It is foolish to change carriers because of a loss-leader rate that may evaporate at renewal time. Physicians must determine the company's timing for anticipated rate increases and their potential size. Second, policies that give the defendant undue influence on the conduct of the litigation will be more costly to all of the insureds. Physicians must realize that every dollar the company spends in the defense of individual claims comes out of their own pockets.

Third, and most important, when buying insurance physicians must determine the cost and terms of availability for the tail coverage. This involves the question of the company's financial stability; insurance is useless if the insurer is bankrupt. Although it is difficult to determine if the company is honest in its projections, it is useful to investigate the company's historic behavior and its behavior in other states. In the insurance business, once a scoundrel, always a scoundrel.

<< >> Up Title Contents

Law and the Physician Homepage
Copyright 1993 - NOT UPDATED

The Climate Change and Public Health Law Site
The Best on the WWW Since 1995!
Copyright as to non-public domain materials
See DR-KATE.COM for home hurricane and disaster preparation
See WWW.EPR-ART.COM for photography of southern Louisiana and Hurricane Katrina
Professor Edward P. Richards, III, JD, MPH - Webmaster

Provide Website Feedback - https://www.lsu.edu/feedback
Privacy Statement - https://www.lsu.edu/privacy
Accessibility Statement - https://www.lsu.edu/accessibility