Understand the policy terms, broker role, and practice details that shape coverage.
Start with the basics before the next renewal or carrier decision.
Core service
Compare policy terms, carrier options, claims guidance, and renewal support as one coverage decision.
Explore this serviceCoverage basics
These guides cover policy structure, claims-made and occurrence coverage, broker responsibilities, common mistakes, and the malpractice exposure of an independent practice.
You would never accept a diagnosis without asking questions. You would never sign a surgical consent without understanding the procedure. So why do so many physicians sign a malpractice renewal -- the insurance that protects their entire career -- without asking a single question?
You have signed the lease. You have hired your first staff member. You are about to see your first patient as an independent practice owner. But before you do: do you actually understand what is in your malpractice policy? Most new practice owners do not. Here is everything you need to know.
Quick test. Can you name your malpractice broker? Not the company. The person. The human being who is supposed to be managing the insurance that protects your career, your savings, and your practice. If you cannot, you are not alone. And that is a problem worth examining.
Three mistakes. We see them in nearly every practice that comes to us for the first time. Three mistakes that cost independent physicians thousands in overpayment, leave them underprotected, and create exposure they do not even know they have.
Your malpractice broker earns a commission on your premium. Every year. Whether they do anything for you or not. The question is: are they earning it?
Dr. Morrison retired after 30 years of practice. Six months later, a former patient filed a malpractice claim for a procedure performed two years before retirement. Dr. Morrison's claims-made policy had ended when he retired. He had not purchased tail coverage. He was personally liable for the entire defense and any settlement. This is not hypothetical. It happens.
In 2012, 60% of physicians owned or co-owned their practice. Today, it is 35.4%. The independent physician is becoming an endangered species. But here is the thing: the physicians who remain independent are not the ones who could not sell. They are the ones who chose not to. This article is for them.
When Dr. Amara left her hospital system to open her own practice, she assumed her malpractice insurance needs were the same. They were not. At the hospital, a risk management team reviewed every complex case. A legal department handled claims. The institution's umbrella policy provided additional coverage layers. Now, it was just her policy. Her decisions. Her exposure.
A clearer next step
A free coverage review connects what you have read to the policy, practice, and renewal in front of you.
Sheltra learns how your group is structured, what has changed, and where your current renewal needs a closer look.
Your coverage is taken to market so multiple insurers can compete for your practice rather than relying on one renewal option.
See the tradeoffs, understand the switching path, and move forward with support for the details that follow.