This question is important for all healthcare practices, facilities, and professionals
looking for an insurance policy. Choosing an insurance agent is a process which
continues to become more difficult as the insurance and medical industry evolves and
the number of options increases. Finding a comprehensive and economic insurance
policy is something that can be complex and stressful, but these issues can be
alleviated by an insurance agent that fits your needs and walks you through the
process of finding coverage. Many factors come into play when it comes to choosing
an agent, including finding an agent that communicates the way that you desire, has
connections with insurance carriers in your region, is able to provide you with options,
and, most importantly, has industry experience.

Independent Insurance Agents/Brokers

Who doesn’t love options? In the modern insurance market, multiple companies work
hard to draw your attention through pricing policies competitively and offering multiple
plans to fit the unique needs of each individual client. The necessity of an insurance
agent is truly shown in the navigation of these options and the ability of an independent
agent to receive quotes from a variety of insurance carriers. Independent insurance
agents are able to use the information you provide to request quotes from multiple
insurance carriers and compare the quotes for you. They will evaluate the policy and
explain to you the important coverage terms and exclusions. Independent insurance
agents act as your advocates to find you the insurance coverage that best fits your
practice.

Industry experience

Experience can be an invaluable tool of a medical malpractice insurance
broker. Insurance agents/brokers who focus on the healthcare industry have a
strong foundation in the specific needs of healthcare clients. In fact, everyday they
expand their knowledge as each physician and administrator presents unique
circumstances, such as new procedures and expanded practice models. Brokers
who just occasionally work with healthcare clients are unlikely to possess these
valuable insights. This experience also translates into working relationships with the
insurance carriers in the medical industry. Having a healthcare industry focus allows
InsureGen Brokers to advocate on behalf of the client. The experience that a broker
brings to the table can be vital for the client, especially when you have a more
complicated insurance need. For example, physicians with past claims or
performing cutting edge procedures looking for professional liability insurance
coverage can often have some difficulty finding a comprehensive policy. Sometimes
the difficulty is simply because they called the wrong agent.

 

You should be looking for an agent who focuses on working within the healthcare industry. Insurance
agents who have experience in the healthcare field are particularly successful at
helping healthcare practices, facilities, and professionals find medical malpractice
insurance policies because they understand the industry. They are aware of the
laws and regulations in the industry, and many of the unique risks presented in the
healthcare field. Working with a broker who has experience in your field can be
instrumental in finding appropriate insurance coverage for your situation.
It is also important that the insurance agent you choose to work with is licensed in
your state and has relationships with carriers in your region. Certain insurance
carriers are more competitive in different areas of the United States. For instance,
some medical malpractice insurance carriers are extremely competitive in only the
southwest region of the United States. It will be beneficial for your insurance agent
to have a relationship with the most competitive insurance carriers in your state so
they are able to provide you with economical and comprehensive insurance options.

Broker who is Responsive

Communication is key, even more so when it comes to a broker-client
relationship. A good broker will value your time and communicate with you as
frequently as you would like and in whatever manner you prefer. In the medical field it is
extremely important to maintain communication with your broker throughout your policy
term. Insurance companies need to be aware of any changes in specialty/procedures,
any type of address and/or location change, adding and/or deleting medical staff
members, and more. A good broker is there to answer your phone calls, emails, and
text messages in a manner which reflects the urgency of the issue faced by your
practice. Communication is one of the key factors which you should look towards in the
broker decision-making process.

InsureGen Brokers is an independent insurance agency/brokerage that specializes in
advocating for healthcare professionals and medical facilities to help them find
comprehensive insurance coverage. We maintain relationships with a variety of
insurance carriers that are prominent in the healthcare field to help provide our clients
with multiple competitive quote options, free of charge. Our relationships in the
insurance industry extend past insurance companies that provide only medical
malpractice insurance policies. We can provide quotes for Privacy/Cyber Liability
Insurance and Management Liability from carriers that have ample experience working
with healthcare professionals and offer specialized policies to provide tailored coverage
for the medical industry.