E&S Coverage for Distressed Physicians
Brown & Riding offers a specialized solution for physicians facing challenges securing standard medical malpractice insurance. Through our partnership with Professional Security Insurance Company (PSIC), a wholly-owned subsidiary of MagMutual Insurance Company, we provide Excess & Surplus (E&S) coverage tailored for distressed medical professionals.
MagMutual, a physician-led carrier with over 30 years of experience, is the largest medical professional liability insurer in the Southeast. This program gives your hard-to-place clients access to robust coverage and claims support generally reserved for standard market risks.
Ideal Accounts and Appetite:
- Physicians with prior claims or licensing issues
- Doctors transitioning from standard market coverage
- Part-time practitioners needing flexible options
Ineligible risks include unlicensed physicians and full-time correctional facility physicians.
Key Coverage Features:
- Free tail coverage at death, disability, or retirement if insured is age 55+ and with PSIC for 5+ years
- Non-admitted E&S lines coverage
- Incident-sensitive claims trigger
- Defense costs outside limits of liability
- Full prior acts coverage available
Optional Enhancements Include:
- Sexual misconduct defense
- Punitive damages where insurable by law
- Medical director administrative coverage
- Full consent to settle provision
- Part-time practice coverage
Underwriting and Minimum Premiums:
Minimum premium starts at $5,000. Underwriting is flexible and designed to evaluate the complete story behind prior claims or licensing issues. You can expect thoughtful consideration of non-standard risks that standard carriers won’t entertain.
Available States:
Coverage is offered in Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia.
Why Partner with Brown & Riding:
As a leading general agency and E&S broker, Brown & Riding combines deep market relationships with responsive service. We work closely with agents and brokers to find viable solutions for distressed physician clients who otherwise struggle to secure coverage. Our access to PSIC and MagMutual allows us to deliver meaningful options for these challenging placements.
For more information contact:
Jeffrey Jarboe
Principal, Senior Vice President, Broker
Direct: 678.225.1381
Cell: 404.422.2483
Email: [email protected]