Medical Malpractice Insurance
“The practice is receiving an annual savings of $26,000 this year (representing a 35% savings) and enrollment was fast and easy! This, along with the savings from the SFHCP group purchasing program, has been an unexpected, but very appreciated bonus of our membership in Saint Francis Healthcare Partners. We are looking forward to more innovative cost savings measures.” – David Howlett, MD – East Granby Family Medicine
In 2017, SFHCP proudly introduced a medical malpractice insurance savings program entitled Connecticut Affiliated Physicians, Purchasing Group, LLC (CAP-PG). CAP-PG enables physicians and other clinicians to negotiate malpractice insurance as a group. By becoming a CAP-PG member, you and your practice can access the program and begin saving money on your malpractice insurance premiums and take advantage of its leading edge risk and practice management services.
We currently have enrolled 115 members, with a total aggregate savings for CAP-PG members exceeding $241,385! The average per practice savings is $20,000.
(*may vary based on number of physicians, specialty and claims experience).
“On malpractice: we realized a savings of $50k which is a 35% reduction in our annual premium. Wow! Great Job!” – Mark Salsbury – Practice Administrator- Cottage Grove Cardiology
For information on this program or to enroll, please contact Kathy Strauch at firstname.lastname@example.org or 860.714.1245.
“We saved $5600, that’s a 34% reduction in our malpractice insurance premium!” – Dori Harrington, CFO at Nutmeg Healthcare Associates, P.C
Frequently Asked Questions
All of our physicians need medical malpractice insurance coverage, but not all insurers are alike. We have partnered with Coverys, which is a recognized leader in insuring physicians and Advanced Practice Professionals in Connecticut. More importantly, Coverys provides a leading edge risk and practice management services aimed at improving performance and outcomes. Joining forces with Coverys to offer a program tailored to the needs of our physicians, supports the SFHCP vision to be the most advanced customer‐focused and patient‐center healthcare network statewide.
Existing Coverys insureds will be able to keep their coverage through their existing broker. Existing insureds may be eligible for additional credits based on the growth of the medical malpractice insurance program and participation in our risk management education program (through MED-IQ). Contact your current broker for more information.
Coverys, through its A.M. Best A‐rated family of insurers, provides coverage for more than 33,000 physicians nationwide and more than 500 hospitals. Coverys was founded by health care providers and continue to actively serve the health care community through aggressively defending good medicine and providing leading edge data analytics and related services aimed at improving patient safety and enhancing the performance of physicians and others under Accountable Care.
Coverys will set premiums each year, by specialty. As part of their commitment to the program, and to limit premium fluctuation, Coverys will maintain the proposed rating structure for three years. If the experience modification of the entire group changes more than (+/‐) 5 points, the resulting experience modification shall be applied at renewal.
Yes. The medical malpractice insurance program will provide tail coverage for an additional premium continuing the limits of liability in effect when coverage is terminated under the Program. Under the following circumstances, the Program will provide tail coverage at no additional premium: (1) the death of an insured; (2) an insured’s permanent and total disability; (3) upon the insured’s retirement from the practice of medicine, at age 55 or older, and where the insured has actively participated in coverage for a minimum of 60 consecutive months.
Yes. If Coverys agrees, with respect to insureds new to Coverys, subject to the application and prior claims history. Existing Coverys insureds will be eligible for transfer to the medical malpractice insurance program without charge.