Insurance Program

Physicians Preferred has developed a solution to the medical malpractice crisis for physicians in Florida. The Physicians Preferred solution stabilizes premiums through a unique strategy, which includes:

• offering policies only with limits required by the state
• strongly recommending the physician implement an asset protection program
• using actuarially sound rates developed by quality, experienced actuaries
• underwriting only preferred risks.

The goal of the Physician's Preferred solution is to cause the physician to be a less attractive financial target by purchasing a low limit of liability insurance and implementing complete asset protection.

Physicians Preferred offers claims-made medical professional liability insurance to physicians practicing solely in Florida with two limits of liability insurance:

• $100,000 per incident with an annual aggregate limit of $300,000, satisfying the minimum statutory requirements for physicians who do not have privileges at any hospital.
• $250,000 per incident with an annual aggregate limit of $750,000, satisfying the minimum statutory requirements for physicians who do have hospital privileges.
• Meaningful deductibles are offered ranging from $5,000 to $100,000.

A physician's professional association is added to the individual policy, shared limits, at no additional charge. This assists the physician and his practice to be a less attractive financial target.

Physicians Preferred uses a unique pricing formula when a group of 10 or more physicians and surgeons applies for coverage. This formula is based on the actual claims experience of the group and generally produces significant premium savings.

Physicians Preferred has recently added a facilities policy to its line of products.

Upon full retirement from practicing medicine, a physician is eligible to receive a free extended reporting period endorsement (or, "Tail") after being an insured with Physicians Preferred for the immediate past five years and attained the age of 60.