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Individual
Professional Liability
In Massachusetts, physicians are required to carry professional liability
insurance to protect against allegations of malpractice. This is the most
important insurance
a physician will buy. There are a number of plans available for professional
liability coverage, and limits vary.
PIAM has a selection of carriers and offers both Occurrence and Claims-
Made coverage. (See Occurrence vs Claims-Made Coverage.) PIAM
can provide you with competitive quotes for excellent policies.
Corporate Professional
Liability
If you have a corporation, it is highly recommended that you consider a
corporate professional liability policy. Corporate professional liability
insurance
covers liability suits against the corporation that may arise when
the contractual obligations and responsibilities of participating physicians
and managed care companies are absent or left ambiguous. It also covers
vicarious liability that can occur when employees of the corporation
are
deemed negligent in patient care decisions including denial of care,
delay of care, failure to diagnose or failure to perform.
At PIAM, we can
work with our carriers to develop a special, reduced premium medical
professional liability program specifically for your
group. Such
a program could save your members thousands of dollars in excess premium
costs each year.
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