Frequently asked questions
Who exactly are you?
We are part of Rich & Cartmill, Inc who has been in business since 1922, and for over 90 years we have been trusted to service our clients insurance needs. Rich & Cartmill, Inc (www.rcins.com) is headquartered in Tulsa, OK and has offices in Tulsa, Oklahoma City, Colorado, Missouri, and Kansas. We are currently in the top 100 Largest Insurance Brokers and Agencies in the United States. We are the only agency in the nation which will have two of our agents who have served or will serve as president of the national association of Independent Insurance Agents & Brokers of America. We have a nationwide recognition for excellence with multiple insurance carriers and our reputation depends on those relationships.
What kind of expertise do you have in physician insurance? We have been writing physician malpractice insurance for over 40 years and we have the endorsement of the Oklahoma Osteopathic Association. We currently write physician malpractice insurance throughout the United States
What insurance companies and brokers do you represent?
Our agency represents many insurance companies and brokers including but not limited to Medical Protective, PLICO, ProAssurance, NorCal, PSIC, TDC, Ultra Risk Advisors, Swett & Crawford, AmWins, HCI Healthcare and more.
How long will it take to get my quote?
Upon completion of the quick quote form, we will contact you within 1 to 3 days to give you an indication of your expected premium. A full bind-able quote will require additional information.
Why should I choose PhysiciansMalpracticeQuote.com?
With over 90 years in the business and being a top 100 insurance agency/broker in the United States we have the history and the experience in this industry.
What can PhysiciansMalpracticeQuote.com do for me?
As part of Rich & Cartmill, we have been a leading provider of medical malpractice insurance for physicians for more than thirty years. We provide consultations comparing each insurance carrier's coverage forms, pricing structure, and service differences. This allows us to focus on developing a program which bests suits your individual needs as compared to only offering one carrier.
Do I get a bindable quote after I fill out the quick quote application?
No, you will get quick quote estimates from many of the insurance companies based on the information you provided and it will allow you to make a reasonable insurance buying decision before going through the more time consuming process of turning the quick quote into a bindable quote and then binding the policy.
Can you provide "Prior Acts" coverage?
Yes. We can provide coverage for any new unknown claims which arise on or after the retroactive date on your current policy. This eliminates the need to purchase a reporting endorsement (tail coverage) upon switching insurance companies.
What is a Claims-Made Policy?
A Claims-Made type of policy covers a physician for claims made against the physician that occurs on or after the retroactive date and during the policy period. After a physician retires and no longer has a current policy in force, an extended reporting option (Tail), will need to be purchased or given from the insurance company for any new claims that were made in future years.
What is a retroactive date?
The retroactive date is the date in a claims-made liability policy which triggers the beginning time period of insurance coverage. If such date is shown on your policy, any claim made during the policy period needs occur on or after the retroactive date.
What is an Occurrence Policy?
An occurrence policy is a type of policy that covers you for any incidents that occur during the policy period regardless of when the claim is made. Under an Occurrence policy there is no need to buy a tail because there is no time limitation on when a claim is made whether it is during the policy period or after the policy period.
What are some of the major coverage differences to consider when choosing which insurance company to go with?
a. Incident sensitive form versus written demand/notice of suit form. Under an incident sensitive form you can turn in a claim and trigger coverage the moment you have an incident occur that you reasonably think could result in a claim. This is the preferable form. Under a written demand/ notice of suit form, this requires a notice of suit to trigger coverage so if you have an incident occur that you think could reasonably result in a claim you have to wait until you actually get sued for the coverage to be triggered. This can result in you going through a renewal with a known uncovered incident that you are waiting to get sued on and can cause you to be stuck with your current insurance carrier due to the other insurance carriers wanting to exclude known incidents that could result in a claim.
b. Consent to Settle: Some insurance companies give the physician a full consent to settle, some give a partial consent to settle where the physician has to pay money out of his or her pocket if he or she want to continue to fight the claim and some give zero consent to settle and leave it entirely up to the insurance company.
c. Entity Coverage: Some carriers provide coverage for a physician’s entity under shared limits with the physician’s policy and some offer separate limits. Also, some carriers can cover the entities allied employees under the shared policy with the physician and some can offer it under a separate set of limits.
d. Deductible: Insurance companies can offer a wide array of deductible options from a zero deductible to a deductible of many thousands of dollars.
e. Defense Cost: Insurance companies can offer policies that provide unlimited defense cost as they are outside the limits of insurance and others can offer coverage where the defense cost reduces the limits of insurance on the policy.
f. Extended Reporting Endorsement (Tail): Under a claims made type policy insurance companies can offer a free tail upon full retirement, a free tail upon being with the insurance company for over 10 years, or no free tail at all where the physician must purchase the tail upon no longer needing the policy.
g. Strength of Insurance Company: Some insurance companies are A+ (Superior) Rated by A.M Best and some are non rated by A.M. Best. Some are admitted in the State and thus subject to a guarantee fund while others are non admitted and not subject to a guarantee fund should bankruptcy occur.
We are part of Rich & Cartmill, Inc who has been in business since 1922, and for over 90 years we have been trusted to service our clients insurance needs. Rich & Cartmill, Inc (www.rcins.com) is headquartered in Tulsa, OK and has offices in Tulsa, Oklahoma City, Colorado, Missouri, and Kansas. We are currently in the top 100 Largest Insurance Brokers and Agencies in the United States. We are the only agency in the nation which will have two of our agents who have served or will serve as president of the national association of Independent Insurance Agents & Brokers of America. We have a nationwide recognition for excellence with multiple insurance carriers and our reputation depends on those relationships.
What kind of expertise do you have in physician insurance? We have been writing physician malpractice insurance for over 40 years and we have the endorsement of the Oklahoma Osteopathic Association. We currently write physician malpractice insurance throughout the United States
What insurance companies and brokers do you represent?
Our agency represents many insurance companies and brokers including but not limited to Medical Protective, PLICO, ProAssurance, NorCal, PSIC, TDC, Ultra Risk Advisors, Swett & Crawford, AmWins, HCI Healthcare and more.
How long will it take to get my quote?
Upon completion of the quick quote form, we will contact you within 1 to 3 days to give you an indication of your expected premium. A full bind-able quote will require additional information.
Why should I choose PhysiciansMalpracticeQuote.com?
With over 90 years in the business and being a top 100 insurance agency/broker in the United States we have the history and the experience in this industry.
What can PhysiciansMalpracticeQuote.com do for me?
As part of Rich & Cartmill, we have been a leading provider of medical malpractice insurance for physicians for more than thirty years. We provide consultations comparing each insurance carrier's coverage forms, pricing structure, and service differences. This allows us to focus on developing a program which bests suits your individual needs as compared to only offering one carrier.
Do I get a bindable quote after I fill out the quick quote application?
No, you will get quick quote estimates from many of the insurance companies based on the information you provided and it will allow you to make a reasonable insurance buying decision before going through the more time consuming process of turning the quick quote into a bindable quote and then binding the policy.
Can you provide "Prior Acts" coverage?
Yes. We can provide coverage for any new unknown claims which arise on or after the retroactive date on your current policy. This eliminates the need to purchase a reporting endorsement (tail coverage) upon switching insurance companies.
What is a Claims-Made Policy?
A Claims-Made type of policy covers a physician for claims made against the physician that occurs on or after the retroactive date and during the policy period. After a physician retires and no longer has a current policy in force, an extended reporting option (Tail), will need to be purchased or given from the insurance company for any new claims that were made in future years.
What is a retroactive date?
The retroactive date is the date in a claims-made liability policy which triggers the beginning time period of insurance coverage. If such date is shown on your policy, any claim made during the policy period needs occur on or after the retroactive date.
What is an Occurrence Policy?
An occurrence policy is a type of policy that covers you for any incidents that occur during the policy period regardless of when the claim is made. Under an Occurrence policy there is no need to buy a tail because there is no time limitation on when a claim is made whether it is during the policy period or after the policy period.
What are some of the major coverage differences to consider when choosing which insurance company to go with?
a. Incident sensitive form versus written demand/notice of suit form. Under an incident sensitive form you can turn in a claim and trigger coverage the moment you have an incident occur that you reasonably think could result in a claim. This is the preferable form. Under a written demand/ notice of suit form, this requires a notice of suit to trigger coverage so if you have an incident occur that you think could reasonably result in a claim you have to wait until you actually get sued for the coverage to be triggered. This can result in you going through a renewal with a known uncovered incident that you are waiting to get sued on and can cause you to be stuck with your current insurance carrier due to the other insurance carriers wanting to exclude known incidents that could result in a claim.
b. Consent to Settle: Some insurance companies give the physician a full consent to settle, some give a partial consent to settle where the physician has to pay money out of his or her pocket if he or she want to continue to fight the claim and some give zero consent to settle and leave it entirely up to the insurance company.
c. Entity Coverage: Some carriers provide coverage for a physician’s entity under shared limits with the physician’s policy and some offer separate limits. Also, some carriers can cover the entities allied employees under the shared policy with the physician and some can offer it under a separate set of limits.
d. Deductible: Insurance companies can offer a wide array of deductible options from a zero deductible to a deductible of many thousands of dollars.
e. Defense Cost: Insurance companies can offer policies that provide unlimited defense cost as they are outside the limits of insurance and others can offer coverage where the defense cost reduces the limits of insurance on the policy.
f. Extended Reporting Endorsement (Tail): Under a claims made type policy insurance companies can offer a free tail upon full retirement, a free tail upon being with the insurance company for over 10 years, or no free tail at all where the physician must purchase the tail upon no longer needing the policy.
g. Strength of Insurance Company: Some insurance companies are A+ (Superior) Rated by A.M Best and some are non rated by A.M. Best. Some are admitted in the State and thus subject to a guarantee fund while others are non admitted and not subject to a guarantee fund should bankruptcy occur.
