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THE CASE FOR A TRUE HEALTHCARE SPECIALIST


David Huss - Jan 15, 2015

There are over 150 different classes of business that need professional liability insurance. The vast majority of those are lumped into a catch-all category and sold a professional liability product that is generally referred to as Miscellaneous E&O. A few of those classes of business require their own distinct professional liability product. Healthcare is one of them – it’s called medical professional liability or medical malpractice. Of all the professional liability insurance products, medical malpractice is perhaps the most complicated and volatile.

If you have clients in the healthcare arena and need the assistance of a wholesaler, you should definitely be working with a true healthcare specialist, like Ethos.

Here are the 3 benefits you will receive:

  1. Expert Consultation
    When a business does just one thing they must consistently do it better than anyone else. If they don’t, they have everything to lose. As such, a wholesaler that is highly focused on healthcare business must do a consistently superior job of taking care of their retail customers’ needs.
  2. Better Quotes
    Most medical professional liability underwriters work on nothing but healthcare business. Again, it’s a complicated and volatile product line. To be done right, underwriters, like wholesalers, need to have a very high degree of focus. A true specialist wholesaler works with these underwriters every day and knows them very well. The superior relationships that result benefit you, the retail agent and your client.
  3. Decreased E&O Exposure
    The often complicated risk profiles of healthcare business and volatility of medical malpractice means the E&O exposure associated with the placement of this product is substantial. When people get injured or die because of actual or alleged malpractice, it’s personal – for both parties. You do not want to be involved in a medical professional liability E&O claim.

A true specialist is someone who does just one thing. These days there are not many wholesale specialists solely focused on healthcare – the market segment has been too soft for too long. Most wholesalers that had a high degree of focus on healthcare have long since moved on to other industry segments and product lines where it’s easier to make a living. They still do healthcare, but they are no longer specialists. Today you could easily count the wholesale organizations exclusively focused on the healthcare industry on one hand. Ethos is one of them.

If you have healthcare clients and need the assistance of a wholesaler to place medical professional liability you need a true specialist. Give Ethos a call.

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