Avoiding Malpractice Tips | Preferra Policyholder

COVID-19 Pandemic Sparks Alternative Treatments

Jun 3, 2020 | Avoiding Malpractice Tips

The COVID-19 pandemic has caused Preferra Insurance Company and the Preferra Insurance Company RRG, (“Preferra”), to receive many phone calls from mental health professionals asking about alternative treatment methods including teletherapy and online therapy. It is the Preferra’s priority to protect its policyholders since they are owners of the Preferra, and the Preferra wants to help its policyholders to be able to continue serving their clients and communities.

COVID-19 Pandemic Virus UPDATE

May 5, 2020 | Avoiding Malpractice Tips

The COVID-19 pandemic has caused Preferra Insurance Company and the Preferra Insurance Company RRG, to receive an inordinate number of phone calls from social workers asking a variety of questions. We have found that most of the calls relate to remote practice methods. With the immediate social distancing shift away from in-person therapy, many social workers are asking how to begin online and telehealth therapy and requisite guidelines.

Insurance – A Brief History … 5,000 Years on a Page.

Apr 9, 2020 | Avoiding Malpractice Tips

We buy insurance for many reasons to mitigate our risk. Insurance policies come in many forms, variations, and sizes, such as risk protection for life, health, auto, home, and liability. The one thing that they all have in common is shifting risk to another party in exchange for premiums paid.

Insurance Regulation

Feb 27, 2020 | Avoiding Malpractice Tips

We buy insurance policies in one form or another to protect ourselves against our risk of perils. We shift certain risks to the insurance carrier when we buy an insurance policy contract. So, what is happening behind our policy purchase at the insurance company?

What’s in Your Insurance Portfolio?

Feb 4, 2020 | Avoiding Malpractice Tips

The New Year marks the start of new goals like pledges to be more organized, to lose weight, to manage income better, or to engage in other healthy actions. It is also an excellent time to complete another important healthy action: conduct an insurance review. Basically, this is a security review to assess your risk exposures.

U.S. Liability Insurance Market Snapshot

Jan 3, 2020 | Avoiding Malpractice Tips

This month’s tip article gives you the highlights of where the liability insurance market recently was and is heading, particularly the professional liability market within the medical malpractice segment. The supporting information was obtained from four sources: Deloitte Center for Financial Services, Insights, December 2019; USI 2019 Sponsored National Practice Leaders; Marsh’s Global Insurance Market Study, 2019; and Preferra first-hand experience.

A Tale of the Extended Reporting Period Tail

Dec 4, 2019 | Avoiding Malpractice Tips

Extended Reporting Period (ERP), in connection with a professional liability insurance policy, also known “tail coverage,” is an option sometimes offered in a claims-made policy. The keyword here is “Reporting Period” because that term drives the difference between a claims-made policy and an occurrence policy.

Why is a Couch Like a Turkey?

Oct 31, 2019 | Avoiding Malpractice Tips

In early November, each crisp fall day’s golden sunlight grows shorter and wanes into the cold dark night. We see the bright, colorful, and radiant leaves sparkling in the autumn sun sinking low on the horizon. We smell the woodsy humus fragrance of the fallen leaves and acorns from the tall oak trees rooted in the damp dark earth. As our minds wander in a sort of Freudian free-associative state, we remember our happy childhood memories of days gone by.

To Sue or Not to Sue … That is the Question!

Sep 29, 2019 | Avoiding Malpractice Tips

In the property and casualty insurance world, which includes liability covers such as Errors and Omissions, Medical Malpractice, General Liability, Cyber Liability, Professional Liability, and Employers Professional Liability, the chain of claim is virtually the same.

Watch Out for CAPS, GAPS, and MAPS

Sep 2, 2019 | Avoiding Malpractice Tips

Insurance policies are legal contracts. As such, they are very complicated and loaded with legal terms and precise definitions. Insurance carriers are in business to maximize profits, especially the Wall Street insurance companies. As a result, they utilize their decades of claims history and loss experience to carve out certain risks and perils from their insurance policy coverages.

General Facts About General Liability

Jul 29, 2019 | Avoiding Malpractice Tips

General Liability insurance is important for you to own. Even if you have no office, or your employer already has a General Liability insurance policy. If you perform your services in any venue, there is a risk that your client will suffer a property loss like a stolen wallet for example and blame you.

Because We Care, We Are Security Aware

Jul 1, 2019 | Avoiding Malpractice Tips

Did you know that recently the City of Baltimore suffered a cyber attack that froze its ability to operate, including processing parking tickets? In early June of 2019, Philadelphia’s court system was attacked which froze its ability to operate.