There is nothing wrong
with small dogs. But,

they can't
protect
you like the
big ones.

Healthcare malpractice insurance is one of your most significant out-of-pocket costs. With that in mind, you have many choices about the type of coverage that you want, your limits, and where to purchase your insurance. One option may be to purchase your healthcare malpractice insurance from a risk retention group (RRG).

As a policyholder insured by an RRG, you may also become a stockholder in the RRG. And, as a policyholder and potentially a stockholder, an RRG often provides you with certain rights and obligations. For example, in certain cases, you may be able to help make decisions regarding the management of claims associated with your policy. While the idea of helping to make such decisions may initially sound appealing, it is also important to consider the potentially immense responsibility that comes with that level of involvement in running an insurance company.

Furthermore, has the RRG considered how the market cycle may impact their business? Does a young RRG's relatively brief history position it to stack up against an experienced, seasoned insurer that has managed hundreds of thousands of malpractice claims? Does a young RRG have the capital to manage an expensive case or large payout? And what happens when that expensive and complex case is yours?

You should never doubt whether your healthcare malpractice insurance company is equipped to be the big dog in your corner.

It's important to consider the immense responsibility that comes with that level of self-determination. Think about this.

  • Q. How well equipped is an RRG to make difficult decisions?
  • Q. Are the policyholders experts in the nuanced world of insurance?
  • Q. Has the RRG considered how hard times in the market cycle may impact their business?
  • Q. Does an RRG's relatively brief history position it to stack up against an experienced, seasoned insurer that has managed hundreds of thousands of malpractice claims?
  • Q. Does a young RRG have the capital to manage an expensive case or large payout?
  • Q. And what happens when that expensive and complex case is yours?

You should never doubt whether your malpractice insurance company is equipped to be the big dog in your corner.

Click here for five questions to ask when considering an RRG.