Medical malpractice insurance for physicians at Texas Medical Center institutions varies depending on whether you are employed (institution carries coverage) or in private practice (you carry your own). The two policy types, claims-made and occurrence, have fundamentally different implications for when you change employers or retire, and choosing the wrong one can leave you exposed to claims from years past.
For physicians establishing or financing a private practice through SBA loans, hazard insurance on the practice space is a lender requirement alongside malpractice coverage.
Key Takeaways
- Claims-made vs occurrence: Claims-made covers claims filed during the policy period; occurrence covers incidents during the period regardless of when filed
- Tail coverage: Required when leaving a claims-made policy to cover claims filed after departure
- Texas tort reform: Chapter 74 caps noneconomic damages at $250K per physician, reducing premium pressure
- Cost: $8,000-$50,000+/year depending on specialty, with surgery and OB/GYN at the high end
- TMC employed physicians: Most institutions carry occurrence policies, but verify before relying on it
Disclaimer: This article is for informational purposes only. Consult our licensed advisors for guidance specific to your situation.
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