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New York Doctors Still Have Options For Medical Malpractice Insurance Says Nexus Insurance Services

08-03-2010 09:18 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Nexus Insurance Services

With recent changes in New York medical malpractice insurance rates, there are physicians who will see an increase in their insurance premiums. Although the average increase is about 5 percent, the changes in rates can be more or less depending on the area of medicine they specialize in and/or location.

This rate increase will affect physicians who are insured with Medical Liability Mutual Insurance Company, Physicians’ Reciprocal Insurers, Hospitals Insurance Company (HIC), based in White Plains, and Academic Health Professionals Insurance Association.

In the past, the medical malpractice insurance industry has received quite a few hits with increases, which has caused concern among lawmakers, financial analysts, and the medical community. There has been a constant debate about tort reform, especially with the new healthcare system in the United States. Everyone has an opinion about the best way to reduce malpractice insurance claims.

According to Nexus Insurance Services, even with these increases, there are still options for physicians in New York to find more affordable medical malpractice insurance rates.

“Just because there is an increase in medical malpractice insurance, that doesn’t mean physicians should just accept the rate they are given by their current insurance carrier. It’s important that your insurance coverage is marketed to multiple carriers so that physicians will receive the lowest rates possible,” says Michael Kataf of Nexus Insurance Services.

Currently doctors have the choice to either purchase coverage directly from an insurance provider or they can go through an insurance broker. The advantage of using the services of a broker is that physicians will be able to know all the different options they have with each insurance carrier.

“When physicians utilize the services of an insurance broker who specializes in medical malpractice insurance, they have up-to-date information and will quickly be able to know the range of premiums and coverage available,” Kataf says. “This saves a great deal of time for the physician.”

About Nexus Insurance Services

Nexus Insurance Services is a professional insurance broker that has helped many doctors, lawyers, realtors, and business owners gain access to insurance providers for their practice or business. The company's mission is to be a firm that brings real value to clients, builds personal relationships on top of business ones, and always conducts itself with sincerity, integrity and fairness. Because of the relationships with many providers, the company is able to shop a client's application around to get the best rates. Contact Nexus Insurance for a free, no obligation quote on medical malpractice insurance, professional liability insurance, or workers compensation insurance. Visit: http://www.nexus-insurance.net

Contact:
Michael Kataf
Nexus Insurance Services
15 Edelweiss
Rancho Santa Margarita, CA 92688
Phone: 800-459-3353
Fax: 888-600-6280
Email: info@nexus-insurance.com
http://www.nexus-insurance.net

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