The number one question I am asked as an insurance provider when talking to a prospective new client is ‘how much?’ Given that the premium levied for your insurance is reflective of your perceived risk to your insurer, reducing your risk could reduce the rates used to calculate your premium. In this article, I will provide my best tips for not only improving the risk your practice represents to insurers, but also for reducing the chance of a successful claim being brought against you and your clinic.
I have found that, ever increasingly, the purchase of insurance is regarded as a ‘commodity purchase’, with the cost of cover being a large factor in the decision of which provider to partner with. If you think of insurance in the same way a bookmaker would consider odds provided for horse racing, those with the best chance of winning (not having a claim) have the lowest odds (cheapest…
