Conducting an annual insurance check up

by Tonya Stene

Performing an annual insurance check up is vital to your medical practice and financial health. A thorough annual review can determine if you have the correct coverage in place, are protected in the event of a claim, and are paying the right price. Here are ten questions to consider:

  1. Has the scope of your practice changed? Are you performing any procedures outside the scope of your specialty?
  2. Are you performing new procedures or offering new services? Have you stopped performing any procedures or services? For example, surgical procedures or delivering babies?
  3. Have you moved? If so, have you updated your address?
  4. Have you updated your contact information and email address if applicable?
  5. Are you only working part time? Or, have you shifted from part-time to full-time hours?
  6. Are there additional premium discounts that you could be taking advantage of?
  7. Are you aware of new products and features that have been added to your policy?
  8. Have you added new physicians or ancillary staff? Has anyone left the practice?
  9. Do you have the appropriate limits in place to satisfy contract requirements?
  10. Do you need additional Medefense, Cyber Liability, or Employment Practices Liability Insurance (EPLI) coverage?

Taking the time review your medical liability policy annually will ensure that you have adequate coverage, understand the benefits and features of new products, receive applicable premium discounts, and are not overpaying for services. Learn more at