Medical Professional Liability Insurance

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1 Communication. Collaboration. Community. Medical Professional Liability Insurance David Wood Managing Director, Medical Professional Liability

2 PRODUCTS Medical Professional Underwriting Programs Medical Professional Brokerage Business Insurance (Property, GL, Auto, Umbrella, WC) Executive Liability Insurance (D&O, EPLI, Crime, Fiduciary) Billing E&O Cyber/Technology Liability 2

3 WHY WORK WITH US The Healthcare Industry is one of the largest business segments in the US. Ongoing renewal income from P&C sales. Greater client retention. There are increasing and changing risks in healthcare. Adding expertise to your client service team will address client risk concerns. We will make the process easy for you. 3

4 HEALTHCARE INDUSTRY SEGMENTS There are three main segments: Facilities, Physician and Allied Healthcare: Facilities are best known as hospitals and long term care companies, surgery centers, imaging centers, etc. Physician practices can be a solo provider up to large group affiliations. They can be all types of specialties. Allied Healthcare is a broad spectrum of healthcare companies typically defined by not having physicians perform services (physician assistants, nurse practitioner). 4

5 GETTING STARTED WITH FACILITIES If you have a hospital client, long term care client or some other type of healthcare facility client, we typically like to schedule a call with the contact person at the facility. This industry segment is generally well represented in the areas of insurance coverage we offer. We want to understand their interest in changing insurers or representation. Depending on the size of the client s operations and commitment to work with our firm, an in person meeting might occur as part of the insurance process. 5

6 GETTING STARTED WITH PHYSICIANS AND ALLIED Bring up the topic of Medical Professional Liability Insurance and Business Insurance with your clients. Ask them if they would like their insurance reviewed for coverage, cost and quality of insurers. Provide your client s name, contact person s name and title, address and phone number to our firm. Be sure to advise the contact person that we will be reaching out to them. We can take it from there and will start the process to review their insurance coverages. We will keep you up to date with how the process is going. 6

7 WHAT WE ASK OF THE PHYSICIAN AND ALLIED CLIENT Copy of their current insurance policies (Medical Professional, Business Owners, Worker s Compensation, Executive Liability, Cyber, Billing E&O). Copies of any Certificates of Insurance they have. Copy of the most current applications they completed for their insurance policies. Advise us if they have any claims or board issues. Advise us of any concerns they have had with their current insurance sources. Advise us of any unique services or business ventures (affiliations, telemedicine, clinical trials, aesthetics, alternative medicine, etc). 7

8 SPECIAL PROGRAMS Physician Programs (1-5) Primary Care Physicians Ophthalmologists Anesthesiologists Dermatologists Internal Medicine Specialties Special rates for Women Physicians Special rates for Male Physicians after completion of a communication exam 8

9 SPECIAL PROGRAMS Urgent Care Walk-In Clinic Immediate Care Clinic Retail Clinic Primary Care/Urgent Care Combination Hospital Owned Urgent Care Clinic Medi-Spas 9

10 SPECIAL PROGRAMS Allied Healthcare CRNAs Perfusionists Acupuncturists Autotransfusionists Platelet Gel Technicians Neuro Monitoring Technician Groups Nuclear Medicine Technician Groups 10

11 MEDICAL PROFESSIONAL LIABILITY We can provide insurance for all areas of Healthcare: Hospitals Long Term Care Medical Groups Surgery Centers Imaging Centers Labs Dialysis Centers Hospice Allied Medical Groups 11

12 GENERAL SERVICES Insurance Coverage Review Claims Review Specific Clinical or Operational Problem Solving Self Insurance and Risk Transfer Review Contract Analysis (leases, employers, health plan) Credentialing/On-Boarding Evaluation Revenue Strategies Territory Advice for Growth and Expansion 12

13 INDUSTRY SPECIFIC SERVICES CME for Urgent Care Patient Education for Primary Care and Urgent Care Urgent Care/Primary Care Risk Management Cardiovascular Medicine Risk Management Anesthesia Risk Management Presentations at State and National Healthcare Meetings 13

14 CONTACT INFORMATION (800) David Wood Ext Danielle Blaser Ext Danielle Coffey Ext Mary Schnuck Ext

15 LICENSING David A. Wood and/or The Wood Insurance Group, Inc., is the licensed agent/broker or entity (if applicable). In CA we operate as The Wood Insurance Services, license # and #0A In VA we operate as David A. Wood Insurance Agency, Inc. In ME we operate as Wood Insurance Services. In NY we operate as David A. Wood Insurance Agency. The Wood Insurance Group, Inc. and its subsidiaries are all wholly owned subsidiaries of NFP Property & Casualty Services, Inc. 15

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