Arizona Medical Malpractice Insurance

Arizona Medical Malpractice Insurance Coverage

Coverage Requirements

In the State of Arizona, medical malpractice insurance coverage is not required of physicians by law.  However, most hospitals and practices require the coverage of its healthcare providers.  And, many physicians don’t want to risk personally having to face the possibility of dealing with a med mal lawsuit on their own –from the administrative and legal logistics, to the possible out-of-pocket costs, and the  potential for a claim payout. 

In Arizona, the most common limits of coverage are $1M/$3M.  This means that healthcare providers often purchase medical malpractice insurance with coverage up to $1M per claim, and $3M aggregate.  “Aggregate” means that the policy will pay out up to a total of $3M in one policy year. 

What is the Med Mal Climate Like in Arizona?

From a medical malpractice insurance standpoint, Arizona is a good state for physicians.  There are many options for coverage, and pricing isn’t as high as some states. 

That said, according to the National Practitioner Data Bank, Arizona does have some of the highest rates of reported adverse actions.  On the plus side, the overall number of payouts tends to be proportionately lower, when compared to other states. 

What Kind of Coverage is Available in Arizona?

In Arizona, both Claims-Made and Occurrence-type coverage policies are available.

Who Can We Get You Malpractice Insurance Coverage with in the State of Arizona?

As an agency/broker, Nexus Insurance Services has access to all of the major carriers in Arizona, including surplus lines/non-admitted carriers.   

Cost of Malpractice Insurance

As with every state, the cost of medical malpractice insurance can vary depending on specialty, county, and personal claim history. 

In general, rates in Arizona for a first year, claims-made medical malpractice insurance policy, for an Internal Medicine physician who is claim free, can range from $3,000-$4,500/year. 

How to Lower the Cost of Your Medical Malpractice Insurance Coverage

Every healthcare provider should know that discounts exist when purchasing coverage.  Please ask about discounts that might apply to you and your situation.  Often, we are able to offer discounts for being New-to-Practice, Claim Free, and/or having recently completed any qualifying risk management CMEs, among others.     

How Can We Help You and Why Should You Choose Us?

Founded in 2004, Nexus Insurance Services is a medical malpractice insurance agency.  As an agency, we can shop the market for you, reaching out to many insurance companies simultaneously, to provide you with an array of options and to get you the most competitive pricing.  We specialize in med mal insurance and provide coverage to both medical providers and practices of all sizes.   

In addition to providing your professional liability insurance, we can also provide general liability and cyber liability coverage for your practice, too.  We are a one-stop-shop for your medical practice insurance coverage needs!

Do you need coverage in Arizona?  If so, click here to request a free quote. 

Additional Resources:

Glossary

Arizona Department of Insurance and Financial Institutions

Arizona Medical Association