Chiropractors

Many insurance companies recognize the value and expertise of chiropractors in the diagnosis and treatment of muscular-skeletal injuries and conditions. More managed-care plans now have at least some provision for chiropractic treatment. In addition, many insurance companies look to chiropractic examination as part of the claims process, particularly when evaluating workers’ compensation and personal injury claims for settlement.

Professional Liability Coverage
Several national insurers, as well as a number of small, state-specific carriers, offer chiropractors’ professional liability (malpractice) coverage.

Limits of liability are usually written at the traditional medical malpractice limits of $1 million per occurrence with a $3 million aggregate (the maximum amount the policy will pay during the policy period).

Whether you presently have insurance or are seeking a renewal quote or, if you are a recent chiropractic graduate looking for your first professional liability coverage, we would be happy to help you.

Claims-Made Versus Occurrence Coverage

Some carriers write coverage on a claims-made basis; some write coverage on an occurrence basis. Which you have now or which you choose for your first policy will impact how you are insured in the future. We can offer you advice on which type of coverage to purchase We find that occurrence forms may be preferable, since this form eliminates the need for purchasing an extended reporting period “tail.” However, claims-made policies are usually less expensive initially, although they become increasingly expensive over time, which reflects the lengthened “prior acts” or “retroactive coverage. Generally after five or six years, the claims-made policy ends up slightly more expensive than the occurrence policy.

It is usually difficult and expensive to switch from a claims-made policy to an occurrence policy, since you must purchase “tail” coverage for the period that the claims-made policy was in force. This “tail” can cost from 75 percent to 250 percent of the annual premium.

Therefore, take great care and seek advice before you commit to the type of policy you purchase, particularly early in your career

Claims History

Claims history is a critical factor in the underwriting decision. Underwriters understand the increasingly litigious environment in the United States. They realize that many practitioners have had some degree of claims experience. An underwriter will review "frequency" and "severity." Frequency is how many claims you have had; severity is how much was paid to both defend and/or settle the claim. There may be a "frequency" issue; however, most actions should ultimately be either dismissed without payment or settled for nominal amounts. On the other hand, frequent claims can also serve as a "red flag" to an underwriter. High-value claims are looked at very carefully, and are often analyzed by the carrier’s claims department before a decision to insure is made.

Some insurers have even developed a niche by covering impaired-risk insureds  —  chiropractors with an adverse claims history or a disciplinary history. If this fits your description, please see this link on impaired-risk medical coverage.

The subject of professional liability insurance for chiropractors is complex. The best policy for you may not be the best policy for the chiropractor down the street from you. We would be happy to discuss your particular situation in greater detail. You can click here and complete a brief inquiry form, which allows us to call you. Or, you can call us at 866-759-0102We return calls promptly.
As a chiropractor, your professional reputation and your assets are at stake. The professional relationship we have built with our insurance carriers can help protect you in an increasingly litigious environment.