Your practice should have the following business insurance coverage in place to protect
against serious financial loss. Physicians' Insurance Agency of Massachusetts is a wholly-owned subsidiary of the Massachusetts Medical Society
and was created by the membership in 1993 to offer cost-conscious medical malpractice coverage and a range of commercial insurance services for all aspects of medical practice.
Physicians Insurance has a selection of malpractice carriers and offers occurrence, claims made and modified claims made coverage, as well as moonlighting policies.
- Billing Errors & Omissions: This coverage responds to claims alleging errors regarding duplicate billing, billing for services not rendered or for unnecessary services, upcoding, billing for services that do not meet the standard of care, and billing
for supervision of residents.
- Cyber Liability/Data Breach: This insurance coverage responds to Privacy Breach, HIPAA violations and other cyber security issues. Many physicians and practices may already have this coverage in place on their individual and corporate Professional
Liability insurance policies, albeit at a modest level such as $50,000 - $100,000 per incident. Separate insurance policies available and recently, two of the major malpractice insurers in Massachusetts are now able to offer higher limits of liability
under their individual policies. There is often some additional protection to respond to Medicare/Medicaid and private payer audits and similar regulatory issues included.
- Employment Practices Liability: Claims alleging wrongful termination, discrimination, harassment and similar complaints are brought forward with increasing frequency. This coverage is available at a very reasonable cost for the typical practice, and
may make the difference to your practice’s survival.
The Business Owners Policy protects your business property against many types of losses as well as providing business liability protection.
Workers' compensation insurance is required by law and protects you and your workers in the event of a work related injury.
Providing quality health insurance coverage is becoming a daunting task for today's practice manager. Physicians Insurance has up-to-date information on the health and dental marketplace and can provide a variety of options for your practice.
Life & Disability
Without solid life and disability insurance protection, illness, injury or untimely death could pose a devastating impact on your family. Physicians Insurance has a selection of excellent cost-effective programs especially suited to physicians that will
provide optimal protection.
