Medical Insurance Policies: Reading Between the Lines

medical insurance policies


The stark reality of the medical industry is that sometimes having an insurance policy for your practice doesn’t mean all of your operations are protected. It’s startling to think that even the most seasoned medical practices may have gaps in their coverage that can mean the difference between a thriving medical office and closed doors. At the Whitlock Group, we encourage every business leader to ask themselves “does our insurance policy truly protect us?” and we partner with you to actively seek out the answer.

This was the case when we were first introduced to a medical client in the Atlanta area who serves thousands each day. Insured with a national broker, as many companies and medical practices are, they were issued standard Clinic Package insurance. The package, while sounding like the ideal protection was incredibly limited in its coverage. The standard policy covered less procedures than were being performed on-site every day. The agent who specifically said that operations were covered clearly did not read the policy or review their client’s operations. The large, national broker left the clinic wading in potential lawsuits and in need of a rapid, but sustainable, solution to the gaps that remained.

When we came in to conduct the Insurance Audit, we reviewed the policy, the contractual obligations, and the day-to-day operations. This included conducting interviews and physical inspections with senior management and the front line workers. Once we completed the audit process, we discussed with the client what was not covered and looked at different options for combatting these exposures.

Alongside the client, we put two new and very important policies in place. The first, a social services liability policy to protect the client from being sued for the counseling services they offer. The second, a Medical Malpractice Liability policy was put in place to cover all medical procedures done on their property. As well as adding these two critical policies, we were able to significantly lower the premiums because we fit them with the right size policy to suit their specific needs.

The big picture for the team at The Whitlock Group has always been to connect, invest, and help insure businesses and industries. Knowing that the Insurance Audit helped cover a medical office that, not only, serves those in need of medical attention, but also offers hope to their patients made this critical coverage process all the more rewarding.