While many of the physicians and surgeons of California are facing difficult economic times for their practices, like the rest of the country, they are constantly looking for avenues to make their medical practice more profitable. These physicians are looking towards alternative types of “medical” care that generate revenues but their search ends when many of their standard medical malpractice insurance carriers have limitations on their coverage. Many doctors are told that their new risks cannot be covered and some are told that their current carriers will exclude their actions for this exposure. Left with the prospect of NO COVERAGE, many simply abandon their search for adding these additional features to their practice.
Doctors Should Know That There Are Options For Them
Many of the Excess and Surplus Lines carriers will insure these risks on a part time basis with affordable premiums that make many of these low risk revenue generating options financially feasible. In the past these carriers were typically utilized for physicians with an adverse loss history or a tainted past and in turn were given the bad wrap for only the troubled markets. Many of these carriers are filling this insurance market need by covering physicians alternative exposure such as Botox, cannabis prescription services, Spa treatments, chemical peels, microdermabrasion, juvederm, restylane, laser hair removal, laser facials, intense pulse light treatments, varicose vein treatment, scleropherapy (spider vein removal), liposuctions, laser lipo, smart lipo, photo facial rejuvenation and even just the part time physician looking to make house calls. All of these risks CAN be insured at little to no hassle if your medical malpractice insurance carrier offers the coverage with an affordable premium.
Don’t Confuse Your Carriers Available Coverage Options
These carriers are not to be confused with the standard, admitted medical liability insurance carriers, as many of them offer a different policy. Some examples of their differences are defense costs inside the limits, reducing your policy limits; trigger for claim is a demand or lawsuit, rather than an incident or situation that you feel could lead to a medical malpractice claim; deductibles that are payable at the time a claim begins is another measure that could be taken by these carriers. However coverage is available for alternative medicine procedures and often at affordable medical liability insurance premiums.
