Top 10 Medical Malpractice Insurance Companies in 2023
In 2023, healthcare professionals face a diverse range of challenges, and choosing the right medical malpractice insurance is crucial for their career and financial security. Here’s a look at the top 10 medical malpractice insurance companies that stand out for their exceptional services and coverage options.
- Proliability: Esteemed for its user-friendly online buying process, Proliability, offered through Mercer, is a longstanding player in the market. It’s known for quick policy issuance and comprehensive coverage, making it a top choice for many professionals.
- CPH & Associates: Specializing in a broad range of professions, CPH & Associates is a preferred choice for mental health, wellness, and educational professionals. Their policies are inclusive, offering unique additions like HIPAA proceedings and sexual misconduct coverage.
- CM&F Group: Distinguished for its comprehensive coverage, CM&F provides 24/7 insurance, ensuring professionals are covered regardless of their location. Their policies include crucial areas like license defense and HIPAA violation coverage.
- HPSO: Handling over one million healthcare professionals, HPSO is known for offering discounts to members of professional organizations. It’s a reliable provider with a significant history in the insurance industry.
- Nurse Service Organization (NSO): Tailored for nurses and nurse practitioners, NSO is notable for its specialized and comprehensive coverage at competitive rates, including discounts for nursing students.
- The Hartford: Focused on small healthcare practices, The Hartford provides business owner’s policies that cover both property and liability risks. It’s an ideal choice for small-scale healthcare businesses.
- Hiscox: With a history dating back to 1901, Hiscox offers insurance for a variety of medical professionals, including therapists and personal care assistants, covering both professional and general liabilities.
- CNA: Known for custom-tailored policies, CNA offers solutions through agents to ensure personalized and precise coverage, making it a popular option for healthcare providers seeking specific insurance needs.
- American Professional Agency, Inc.: Concentrating on mental and allied health fields, this company has a substantial policyholder base, offering liability insurance for a wide range of professionals from social workers to psychologists.
- Pharmacists Mutual: Despite its name, Pharmacists Mutual extends its services beyond the pharmacy sector, providing agent-based personalized services and catering to various healthcare industries.
Each of these companies offers unique features and coverage options, catering to the specific needs of healthcare professionals across different specialties. Their services provide essential protection in the face of legal and financial risks inherent in the medical field.