Malpractice Insurance For Anesthesiologists
Professional liability insurance
Protect yourself and your career
There are a number of factors that determine malpractice insurance rates for anesthesiologists.
Many people ask what the average cost of anesthesiologist malpractice insurance is. The rates vary greatly, so coming up with an “average” cost can be misleading. Some anesthesiologists may pay only few thousand a year while others can pay well into the high five figures a year.
Malpractice insurance rates for admitted carriers are regulated and approved by the insurance commissioner in each state. Most insurance carriers will review the set insurance rates as well as the potential for malpractice lawsuits. Each insurance company, however, has their own set of criteria that go into finalizing a rate for you.
Read on below to learn about the factors that influence the cost of medical malpractice insurance rates.
1. Geographical Location
One factor that goes into determining the cost of malpractice insurance for anesthesiologists is the state or area where they practice. An individual who works in a large metropolitan area may pay more for insurance than an anesthesiologist who practices in a rural area.
2. The Period of Practice
If you are well-established and experienced with no prior claims, you may be able to pay less than an anesthesiologist who is just starting out.
3. Specialty
If you specialize in chronic or acute pain management, your premium may be slightly higher than other anesthesiologists. If your potential for malpractice is less risky than other anesthesiologists (eg, if you work as an anesthesiologist in a dentist's office), your premium could be lower.
4. Type of Policy and Amount of Coverage
There are two main types of policies: claims-made policy and occurrence policy. The former typically costs less than an occurrence policy because it does not include the price of tail coverage. Also, if your liability limits are higher, you will pay more for insurance.
Quick Links
Nexus Insurance Services
23276 S. Pointe Dr. Suite 204 Laguna Hills, CA 92653
Toll free: 1-877-465-7478
Fax: 1-888-600-6280
License Number 0G05808
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