Savings assumes that you are claims free. Your Legal Defense premium is just part of the overall cost of self insuring. Florida law requires you to pay up to $250,000 of any judgment if you have hospital privileges, or $100,000 if you don’t. Many cases settle for less than this amount when an insurance company isn’t involved, but we can’t guarantee any particular result. Consider how often you’ve been sued or expect to be sued when considering whether to self-insure.

If you don’t currently carry malpractice insurance, legal defense coverage can play a critical role in protecting your practice when you self-insure. Beyond potential judgments, the cost of defending a claim can be significant, and having a strong legal defense may help deter nuisance claims and improve outcomes.

For a personalized comparison or more information about self-insuring using a Gulf Atlantic policy, contact us now!