How to Choose a Carrier

Choosing a Medical Liability Insurance Carrier

One of the most important practice decisions you will make is choosing your medical professional liability insurance carrier.

Take an opportunity to learn all you can about the quality of the carrier and the people you'll entrust to protect your interests.

By thoroughly investigating your options, you can make the right decision in selecting a strong, reputable, and financially stable professional liability carrier who will protect and stand by you when you need them most.

Your premium rate should be weighed against the protection, service, financial strength and stability provided by the carrier. You should also consider the company's underwriting standards, claims defense performance, actuarial discipline, risk management services, and reputation.

It is imperative that you take the time you need to determine which medical liability insurance carrier will best meet your needs.

• Is the carrier financially stable?
  Advocate, D.O. is a financially stable company and has been assigned an A- (Excellent) rating from AM Best. For the latest rating, access http://www.ambest.com.
• How many policyholders does the company have?
  As of September 2008, with over $84 million is assets and over $28 million in surplus, Advocate, MD is the only professional medical liability carrier with growth that reached double digits in 2008!
• What are the company's assets?
  As of September 30, 2009, Advocate, D.O. has over $95,800,894 in assets and over $1,080,630,000 combined with FPIC.
• What is the company's policyholder surplus?
  The company’s surplus as of September 30, 2009 is over $29 million and combined with FPIC is over $305 million
• How experienced is the company's top management team?
  The most knowledgeable team in the industry has been assembled at Advocate, D.O. bringing over 200 years of combined experience in the medical malpractice industry. Donna Parker, Director of Underwriting; Brenda Freeman, Director of Claims; and Robert Morton, Director of Risk Management each have over 16 years of experience in the medical malpractice areas. This gives you assurance that you will have highly experienced professionals readily available 24/7 to answer your questions and respond to your needs.
• Does the carrier offer premium credits for policyholders?
  Many different types of premium discounts are available for physicians including, but not limited to Experience, New to Practice, Part-Time, and Association discounts.
• What are the payment options?
  Advocate, D.O. offers several different payment options ranging from check or charge, automatic monthly bank drafts, and quarterly or monthly financing. Physicians may choose the payment method that best suits their needs.
• Does the carrier offer locum tenens, and if so, for how long?
  Free locum tenens is offered for up to 30 days for all Advocate, D.O. insureds upon underwriting approval.
• Identify the defense attorneys representing their policyholders.
  Advocate, D.O. has developed strong relationships with defense attorneys throughout the state who specialize in medical malpractice defense. These attorneys have become a part of our Core Group of Attorneys and are strategically located throughout Texas. As a result, Advocate, D.O. selects only the most qualified and experienced defense attorneys for our insureds.
• Does the policy have a "Consent to Settle" clause?
  Advocate, D.O.'s policy contains a "Consent to Settle" clause. A claim will not be settled without the physician's written consent.
• What is Texas Medical Board Defense (TMB) coverage?
  Advocate, D.O. will cover up to $20,000 in Texas Medical Board defense. Advocate, D.O. does not require their nsureds to pay legal fees up front and then file for reimbursement. Advocate, D.O. has hired a uniquely qualified team of defense experts to handle all TMB's.
• Will you have easy access to top management and decision makers?
  Insureds may reach Advocate, D.O. representatives, including top management 24/7.
• Is the carrier endorsed by a medical association?
  Texas Osteopathic Medical Association (TOMA) and the TX American College of Family Physicians (TxACOFP) both exclusively endorse Advocate, D.O..