Anesthesiology attending malpractice insurance

[DarkKnight3]

Wanted to know how much people are paying for malpractice insurance per year.
Please include the company, if it is occurrence or claims made, price, and years out of residency. Thank you.

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[deleted1183208]

I’d say get occurrence based from the get go. Then never worry about a tail. Prices all over. Premiums can be 10-14k yearly. Tails high as 70k. I’d rather just pay 20k yearly and then cut it when I’m done.

 

[nimbus]

Our group maintains a protective trust so we are self insured. Our monthly contribution to the trust depends on our recent claims experience.

Currently it is $200/mo and that has been about average over the years. It has been as low as $35/month. Several years ago after we had a large judgement against us it was up to $350/mo for a few months. We do not pay tail when we leave the practice.

It helps that noneconomic damages are capped in our state and we personally do all of our cases.

 

[dizzy21]

Occurrence with doctors company. About 20k/yr

 

[UscGhost]

Seems like it quickly becomes more economical to pay claims made.

My doctors company claims made is 10k, when I first graduated it was even less. Recent guy who left had to pay a 30k tail.

So if I go occurrence at 20k, then my break even point is about 4 years. So as long as I know that I'll continue to pay my own malpractice for that long, it's worth it to be claims made.

But get quotes for both, run the numbers and estimate how long before you break even. If you may change jobs into academics, etc. Then plan it out and see where the numbers line up

 

[Pharmado]

How much is tail coverage typically? I had been told that the rule of thumb is that it’s about 3x what your yearly premium. Is that a reasonable guesstimate?

 

[narcotics999]

How much is tail coverage typically? I had been told that the rule of thumb is that it’s about 3x what your yearly premium. Is that a reasonable guesstimate?

close, if you shop around, you can probably get 2x