Medical Malpractice Insurance in Virginia
Virginia’s medical malpractice insurance industry is experiencing a change in the market. For years, physicians enjoyed lower premium rates and an abundance of credits and dividends as the number of medical malpractice claims evened out.
While the number of claims has stayed relatively stable, the payouts for lawsuits have increased, and this increase in claims severity is causing a shift in the market. Insurance carriers must prepare for the financial risk of these significant settlements, and therefore Virginia physicians can expect to see an increase in premium rates.
Professional Risk represents six admitted carrier options as an independent agent, all rated "Excellent" by A.M Best in Virginia. This independence gives our clients flexibility when choosing their insurance carrier and gives physicians options based on their coverage needs and budget.
Our relationship with multiple admitted carriers also helps us create various insurance programs for physicians based on their specialty and the region they service. Insurance programs will become a valuable resource to help physicians save on premiums through this changing market.
Contact us today to be connected with an agent and to learn more about your options.
We Can Help VA Physicians with...
Insurance Programs
As premiums increase, practices can leverage buying power by joining an insurance program. Professional Risk maintains several insurance programs including the MSNVA Risk Purchasing Group among others.
Cyber Liability
Our cyber liability insurers provide medical practices with the best cyber liability coverage even with the increases in cyberattacks. Learn how to prevent cyber claims and contact us for a no-obligation quote.
General Liability
Our agents can help you secure commercial insurance including Workers’ Compensation and Business Owners Policy. To learn more about other coverage options, contact us.
HR Inquiries
Given the changing laws and evolving employment landscape, you must stay informed on how to maintain a compliant work environment. Our service, Mineral, can help you navigate the changing industry.