MLMIC Insurance Company is proud to present the latest episode of Talk Studio, a video series on important and trending issues in professional liability, healthcare law and risk management.
Here, MLMIC Insurance Company SVP and Chief Underwriting Officer Lisa Murley joins MLMIC attorney Nancy May-Skinner, Esq., to review key questions healthcare providers should be asking about medical professional liability (MPL) coverage.
Murley and May-Skinner highlight some of the most important points policyholders should be educated about when it comes to their MPL coverage–from understanding if your carrier is licensed in New York State and how this impacts the benefits the carrier provides its customers, to looking closely at coverage types and limits, such as primary and excess, and whether the limits are separate or shared. Murley and May-Skinner offer insights into some crucial things a policyholder should understand about shared limits, including knowing who and how many others share those limits. They also review other key concerns such as contracts between hospitals and coverage groups and how hospital bylaws may play a role. Murley encourages current and prospective MLMIC policyholders to contact MLMIC with any questions.
According to Murley, there are a number of companies writing medical and professional liability in New York State, but not all companies are subject to New York laws and regulations. “It is important to fully assess their financials, as well as the coverage they offer,” she explains. “There are differences that you need to be aware of before making a choice.”
Be sure to subscribe to the MLMIC YouTube channel to view upcoming installments of Talk Studio. We encourage our insureds to “like” and “share” this video with the goal of spreading this important message with the extended medical community. MLMIC also reminds policyholders they have access to numerous risk management publications and resources available via the MLMIC Insider.