Physicians are first and foremost healers and clinicians, but they are also business owners. As such, they need to concern themselves with protecting their business and themselves from various types of financial risks -- in addition to the professional liability coverage they receive through the Mutual Protection Trust. To help physicians understand and navigate the insurance world, CAP and CAP Physicians Insurance Agency have jointly produced The Physician's Action Guide to Business Insurance. This guide was designed to help CAP members protect their practices, themselves, and their families.
Following are just a few of the questions addressed in the guide:
- How much coverage do physicians need?
- What deductibles, and what limits, are appropriate?
- How does business insurance protect a practice and lower risk?
- What coverages are specific to medical practices?
- Personal insurance: how do you go about determining an adequate amount to protect your assets and, more importantly, your family?
- How much insurance coverage do you actually need and what is the best way to shop for this coverage?
- What are the various factors to take into consideration to protect personal wealth?
The Physician's Action Guide to Business Insurance is intended to provide an overview of the types of coverage typically needed by independent physicians and medical groups. It offers guidelines for evaluating the necessity and benefits of various types of coverage. CAP recommends that every one of its physician members speak with a qualified insurance professional who understands the special needs of physicians.
CAP Physicians Insurance Agency, a wholly owned subsidiary of CAP, has experienced insurance professionals available for consultation to answer your questions and help you determine exactly what you need. We will be happy to come to your business and analyze the adequacy of your current insurance coverages.
If you would like to talk to an insurance professional, or you would like a copy of The Physician's Action Guide to Business Insurance, please call 800-819-0061, email CAPAgency@CAPphysicians.com.
