Nuclear verdicts are growing at an alarming pace. Healthcare risk managers face increasing challenges in purchasing an insurance tower sufficient to withstand a nuclear verdict. Filling the tower can be difficult as insurers assess their willingness to bear nuclear verdict risk, and existing insurance towers may not provide adequate coverage in this new environment. Stress
For healthcare providers, professional liability coverage protects against financial and reputational risk. A provider’s reputation and credentials can be worth far more than any single claim — and providers depend on their insurers to defend against those risks. The Georgia Court of Appeals recognized these realities in Mag Mutual Insurance Company v. Perera, A26A0733
Healthcare providers face a patchwork of state laws and regulations requiring certain types and amounts of liability insurance. Although all healthcare professionals should procure policies covering alleged negligence in healthcare, whether they are required to do so varies by state. Surprisingly, many states do not require medical malpractice or other liability insurance. Of the states
In the home health care business? Whether a franchisor, franchisee, or independent agency, beware of bodily injury exclusions in professional liability policies that could eliminate coverage for otherwise covered claims.
Home healthcare agencies often operate as franchisees, relying on the franchisor for development of the franchise, and once up and running, utilizing the franchisors’ advertising