Skip to content
Search icon

Insurance for Physician Groups

Insurance for Physician Groups 

Insurance is a crucial safeguard for physician groups, providing protection against the unique challenges of collective medical practice. Medical malpractice insurance is essential for covering claims of negligence or procedural errors, while general liability insurance addresses risks related to injuries or accidents at practice locations. Cyber liability insurance is increasingly important in safeguarding against data breaches and protecting sensitive patient information.

Physician groups also often require directors and officers (D&O) liability insurance to cover management-level decisions and employment-related claims. By securing robust and comprehensive insurance coverage, physician groups can focus on providing high-quality care to their patients, confident that their organization is protected against financial and legal risks.

Get a Free Quote Now

The fastest way to find the most suitable insurance coverage for physician groups is to fill out our quick quote form, so we can give you an idea of the type of insurance coverage that best suits you.

Homewood Insurance works with a number of different carriers to ensure you have the most suitable insurance coverage at the best price.

Card image icon

Insurance for physician groups can include:

  • Covers individual and entity-level malpractice claims for employed or contracted physicians.
  • Protection for diagnostic errors, surgical complications, and treatment-related allegations.
  • Includes shared or separate limits for physicians, extenders, and support staff.
  • Applies to multi-specialty groups, single-specialty practices, and hospital-affiliated teams.
  • Limits up to $1M per claim / $3M aggregate per provider; tail and retroactive coverage available.

More information

why do physician groups need insurance?

Physician groups face numerous challenges that necessitate the need for malpractice or liability insurance. Operating in an increasingly complex healthcare landscape, these groups are exposed to a wide array of potential liabilities. Here are key areas where physician groups are vulnerable to being sued for malpractice:

  1. Diagnostic Errors: Misdiagnosis or delayed diagnosis remains one of the most common reasons for malpractice claims >against physicians. Such errors can lead to inappropriate treatment, delayed treatment, or lack of treatment, potentially resulting in harm to the patient.

  2. Treatment Errors: Errors in the treatment process, including incorrect medication prescriptions, surgical errors, or inappropriate therapy, can directly harm patients and lead to malpractice lawsuits.

  3. Failure to Obtain Informed Consent: Physicians are required to inform patients about the risks, benefits, and alternatives of proposed treatments or procedures. Failure to obtain proper informed consent can lead to claims if patients suffer adverse outcomes they were not adequately warned about.

  4. Failure to Monitor or Follow-up: Adequate monitoring of a patient’s condition and follow-up on treatment are crucial. Negligence in monitoring or failing to follow up, especially when it results in adverse outcomes, can subject physician groups to liability.

  5. Communication Failures: Miscommunication within the healthcare team or with patients can lead to errors in medication, treatment plans, or patient consent, increasing the risk of malpractice claims.

  6. Breach of Confidentiality: Physician groups handle sensitive patient information. Unauthorized disclosure of this information can lead to lawsuits for violating patient privacy under laws such as HIPAA in the United States.

  7. Systemic Issues: Problems such as inadequate staffing, insufficient protocols, or lack of oversightcan lead to systemic failures, increasing the likelihood of patient harm and potential malpractice claims.

  8. Procedure-Related Complications: For groups that perform surgical or other invasive procedures, there’s an inherent risk of complications. Even when all protocols are followed, adverse outcomes can occur, for which patients may seek legal recourse.

  9. Prescription and Medication Management Errors: Mistakes in prescribing medications, including incorrect dosages, failure to check for interactions, or prescribing the wrong medication, can have serious consequences for patient health.

Malpractice or liability insurance provides financial protection against claims of negligence or malpractice, covering legal defense costs, settlements, and judgments. For physician groups, this insurance is crucial for mitigating the financial and operational impacts of potential lawsuits. It allows your group to continue providing care while managing the inherent legal and professional risks associated with medical practice.

Homewood work with a number of different carriers to source the most suitable insurance for endoscopy centers at the best price. Get a quote today.

MedPro Group
Core Specialty
CNA Logo
Travelers Insurance
CFC Underwriting
Applied Underwriters
Tokyo Marine Insurance Group
crum-forster-bw
AIG Insurance
Ironshore
Strategic Comp
MagMutual
Genstar
Beazley
Empro Insurance
Great American Insurance
Skyward Specialty Insurance
Hudson Insurance Group
Huntersure Insurance
MIG Insurance
Kinsale Insurance

Coverage Tailored to Physician Groups can include:

  • Covers clinical errors, including misdiagnosis, delayed treatment, improper procedures, or surgical complications.
  • Legal defense for prescribing issues, informed consent failures, and documentation disputes.
  • Protection for vicarious liability, where the group is named in a claim involving one or more employed or contracted providers.
  • Applies to small physician partnerships, large multispecialty medical groups, outpatient surgical practices, and hospital-affiliated teams.
  • Offers shared or individual limits across physicians, nurse practitioners, physician assistants, and ancillary staff
  • Includes peer review, credentialing, and medical director exposure, where applicable.
  • Optional coverage for telemedicine services, urgent care extensions, or remote clinics operated under the same entity.
  • Coverage limits typically include $1,000,000 per claim / $3,000,000 aggregate per provider, with entity-level limits and umbrella options available for large groups or those contracting with hospitals or ACOs.

What types of Insurance do Physician Groups need?

 
General Liability Insurance

General Liability Insurance

General Liability covers medical expenses and attorney fees which result from bodily injuries and property damage that your facility or organization could be legally responsible for.
 
 
Professional Liability Insurance

Professional Liability Insurance

Also known as malpractice insurance, this  protects physician groups against claims related to malpractice, negligence, or injury resulting from resident care. Staff members will typically be covered by professional liability insurance.
 
 
sexual-molestation

Sexual Abuse and Molestation Insurance

Provides coverage for physician groups against claims arising from alleged sexual misconduct or molestation by an employee or other representative of your organization. Essential for the healthcare industry.
 
 
Commercial Property Insurance

Commercial Property Insurance

This protects your group's facilities against damage or loss to your buildings, equipment, and other property, which can happen as the result of various risks such as fire, theft, or vandalism.
 
 
workers compensation insurance

Workers Compensation Insurance

Workers Compensation Insurance is usually mandated by law. It protects physician groups and employees in case of work-related injuries or illnesses.
 
 
Cyber Liability Insurance

Cyber Liability Insurance

Covers you against financial losses associated with data breaches, cyber attacks, and other cyber incidents. Insurers will usually conduct rigorous testing of your online system to fix vulnerabilities as part of this policy.
 

Speak with an Insurance Professional

Call 947-274-3093 or
Fill Out the Form

Ralph Schiller

Ralph Schiller

Ralph specializes in sourcing the most suitable insurance for Physician Groups at the best price. You can call him or fill out the form and he will get your message directly.