Trenton-Ewing, NJ (1888PressRelease)
July 03, 2008 - PRINCETON – NJ PURE, a not-for-profit medical malpractice insurance provider based in Princeton, N.J., today launched a free online network to help physicians and practice managers gain a stronger understanding of the complex landscape of medical malpractice insurance.
“In light of the recent insolvency of MIIX, New Jersey’s former largest medical malpractice company, that left hundreds of physicians personally at risk for claims, we created these video presentations to address difficult questions raised by physicians and practice managers,” said Eric S. Poe, an executive with NJ PURE. “The videos also provide tools for them to conduct their own independent financial research of insurance companies to protect themselves against personal financial risk.”
NJ PURE, the only direct writer of medical malpractice insurance in New Jersey, has launched this educational series with six online videos; more are in development. The videos can be accessed at www.puremedmal.com.
“Although physicians spend countless hours in medical school learning to diagnose and treat illness, they are rarely taught the basic fundamentals of medical malpractice, which may ultimately determine their success or failure,” Poe said. “Physicians often rely on agents and brokers for advice, but the fact is, these individuals are only required to attend 40 hours of classroom time covering general insurance topics in order to be licensed to sell medical malpractice insurance.”
Poe said the online videos provide direct, independent information to physicians and practice managers to help them make informed decisions about the insurance they need, as well as how to gauge the fiscal solvency of the companies that sell medical malpractice insurance.
Here is a synopsis of the video series:
• Introduction
An overview of the relevant subject matter covered in the videos, as well as a brief explanation of why these videos are essential for all physicians and practice managers to watch.
• Medical Malpractice Insurance 101
This video explains the medical malpractice industry and provides four basic tests that every physician and practice manager should perform before selecting an insurance carrier.
• Policy Types: Claims-made vs. Occurrence-type
Will you receive a free tail? The most common mistake made by physicians is their lack of information regarding the qualifications to receive a “free tail” in a claims-made policy.
• How Much Insurance Coverage Should You Buy?
Is it true that the higher insurance limit that physicians buy to protect themselves can actually put them at a higher risk during a malpractice claim? This video tackles the subject.
• The Impact of MIIX’s Insolvency
The video focuses on the lessons learned by the fall of MIIX insurance company, as well as the risks physicians once insured with MIIX now face.
• Trends: Risk Retention Groups
The video focuses on the important differences between buying a policy from a Risk Retention Group and an admitted insurance carrier domiciled in the state.
For more information about NJ PURE, please log on to www.njpure.com.
Media Contact:
Jonathan Jaffe
Jaffe Communications
908-789-0700
jonathan ( @ ) jaffecom dot com
