How Recent Allegations Are Affecting the Medical Professional Industry
In 2017, allegations of harassment, discrimination and molestation went mainstream. Many individuals within the entertainment industry were involved in lawsuits, and, as the year wound down, we saw a high profile suit involving the USA Gymnastics national team doctor.
Dr. Larry Nassar graduated from the University of Michigan in 1985; the following year, he became involved with USA gymnastics. In 1996, he became national medical coordinator for USA gymnastics. Fast forward to 2018, and years of abusing hundreds of underage youth, justice was finally served.
Mainstream news has a way of shining a light on certain topics that sometimes impacts insurance considerations; this is the latest example. It is entirely likely that doctors/physicians and medical groups will begin to face employment practices-related lawsuits as the movement continues to speak up and let your voice be heard. We are in a very sensitive time in the U.S. Behaviors that were “tolerated” before now leave people asking themselves “was this harassment?”
A doctor or medical professional has a lot to consider when they turn the lights on every day. One thing that’s become easier is getting the right insurance. We took our product to the next level in the last year by gaining the ability to package both property and liability. While it is convenient to put general liability, property and employment practices liability all on one medical office policy, it is important that the employment practices liability limits and coverage match the higher exposure.
Doctors and dentists face higher-valued employment practices claims due to the higher incomes of their employees who can make allegations of wrongful termination, discrimination, harassment, retaliation and failure to pay overtime. In addition, they encounter discrimination and harassment allegations from third parties such as patients and vendors.
A few of our package highlights include:
- Business personal property up to $500,000 total insured value with business income coverage
- General liability limits $1,000,000/$3,000,000
- Hired and non-owned auto
- Waiver of subrogation
- Additional insureds available
- Value Plus endorsement available
Our core product features include:
- Up to $5,000,000 in employment practices liability limits
- Retentions starting at $2,500 in most states
- $100,000 Wage and Hour sublimit which includes indemnity and defense (when eligible)
- $250,000 patient abuse and molestation defense cost sublimit (when eligible)
- Defense outside the limit if $500,000 limit or higher is chosen
As always, thank you for your support and business.
Contact Andrew Monaghan,
Product Leader, Underwriter | 888-523-5545 Ext. 2485
Written by Tom Langston
March 8, 2018