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MedPro Group traces its roots back to a predecessor company, the Physicians’ Guarantee Company. Alpheus P. Buchman, MD and Miles F. Porter, MD, both of Fort Wayne, Indiana, formed the Physicians' Guarantee Company in 1899 to provide pre-paid legal service for medical malpractice lawsuits. [1]
Professional liability insurance (PLI), also called professional indemnity insurance (PII) and commonly known as errors & omissions (E&O) in the US, is a form of liability insurance which helps protect professional advising, consulting, and service-providing individuals and companies from bearing the full cost of defending against a negligence ...
Doctors' groups, patients, and insurance companies have criticized medical malpractice litigation as expensive, adversarial, unpredictable, and inefficient. They claim that the cost of medical malpractice litigation in the United States has steadily increased at almost 12 percent annually since 1975. [ 26 ]
If you're willing to pay the premiums, you can insure just about anything. According to GEICO, rocker Gene Simmons insured his tongue for $1 million. NFL star Troy Polamalu insured his hair -- also...
Here's how to switch your car insurance, license and registration AOL Savings interest rates today: Turn your idle cash into a money-making machine with APYs up to 4.75%
Starting your own business requires a significant investment of both time and money. Millions of people continue to step up to the challenge with 33 million small businesses active in the U.S. as ...
PLUS was founded in 1990. [1] Since then, PLUS has grown from 300 members to over 7,000 members, representing over 1,000 companies active in the many fields of professional liability, including underwriters, brokers, risk managers, program managers, attorneys, claims examiners, general agents, teachers/professors, and students.
An analysis of a random sample of 1452 closed malpractice claims from five U.S. liability insurers showed that the average time between injury and resolution was 5 years. [10] Indemnity costs were $376 million, and defense administration cost $73 million, resulting in total costs of $449 million.