The Doctors’ Company has announced an average rate decrease of 5.1% while Medical Protective has announced an overall premium decrease of 3%. These rate reductions are averages so individual physicians may see greater or lesser changes depending upon specialty, loss history and limits of liability. The Continental Casualty Company (CNA) has indicated that there will be no rate change this year.

Presidio Insurance Solutions provides Oregon physicians and surgeons a one-stop shopping experience. We find the lowest rates with the best coverage from all the top Oregon medical malpractice insurance companies.

Rumor has it Medical Protective may be lowering insurance rates and/or offering discounts in Oregon.  In an effort to lure prospective physician clients away from traditional insurers such as CNA and Northwest Physicians Mutual (now owned and operated by The Doctors Company), Medical Protective is considering lowering rates for specified medical specialties.

With our newly expanded presence in the Pacific Northwest, Presidio Insurance Solutions is poised to provide physicians in Oregon with an opportunity to obtain a quote and see how the rates compare.  Susan Doherty, Senior Account Executive for the region, is anxiously awaiting the formal announcement from the company in the first quarter of 2010.

The majority of physicians in Northern California and Oregon have traditionally purchased medical malpractice insurance directly from insurance carriers. Today’s physicians and medical groups have many things that demand their attention, such as rapidly changing medical trends, increasing paperwork for healthcare insurers and governmental entities, increasing business costs and decreasing reimbursements, continuing education and everything that goes along with running a business. Due to the increasingly complex medical field, it is time to utilize an experienced medical malpractice insurance agent/broker to relieve some of these burdens and provide peace of mind about this important coverage. Doing so will actually save you money, while ensuring that you have the protection that’s right for you and your practice!

An insurance professional skilled in malpractice insurance can assist with all of the following:

• Insurance carrier selection, coverage and premium negotiation. Malpractice insurance is too important to your practice. You need to be certain that your carrier is financially stable and provides the coverage that is necessary for your practice. An insurance professional can help you review your options so that your carrier is the best selection for your practice. Not all carriers have a consent to settle clause in their contract. An insurance professional reviews all contracts and will point out any coverage omissions so you can avoid any unpleasant surprises. A broker will provide you with the financial ratings of each carrier in consideration.

• Claim reporting, handling and tracking. If you are sued, an insurance broker can run point during the claim process, provide you with information on what to expect, and intervene if there are any problems.

• Closing coverage gaps to ensure that coverage is afforded for all employees, contractors and procedures. Equally important is reviewing contractual and professional relationships for vicarious liability exposure. Presidio Financial and Insurance Solutions regularly contacts its clients for practice changes and conducts an annual practice review to ensure that no coverage gaps exist.

• Risk management services. Many agents and brokers provide risk management services in-house. A broker can also assist a medical practice in obtaining appropriate risk management services from their insurance carrier

An insurance broker can relieve your medical office staff of service issues such as billing questions and problems, adding new practitioners, new business and renewal policy processing. A broker’s knowledge of the carrier’s procedures removes or reduces these burdens from the practice’s staff.  It’s part of an independent broker’s responsibilities to do that, so why not let them help you?

– Susan Doherty, Presidio Insurance Solutions