Malpractice Insurance?

Aug 23, 2007

  1. MikePLATNUM
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    MikePLATNUM New Member

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    Hey Guys,

    I am thinking about soliciting to doctors for malpractice insurance. I know how high the preimums are, however, I don't have much experience selling this line of insurance. Does anybody know some competitive markets for this type of insurance? Also, does anyone have some good reading material on this? Any help would be great.

    Thanks guys!
     
  2. TonyC
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    TonyC Guru

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    Hey guys...

    I was doing a search on this subject and found this post. Its a question that i would like to know as well....

    I was hoping someone could answer this one....

    Do you need a PC license to Sell this product?

    thanks in advance!

    ~Tony
     
    TonyC, Jul 17, 2008
    #2
  3. rockaya
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    rockaya New Member

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    We carry about a dozen Mad Mal companies. You would need your P&C license and a 2 mil E&O coverage to be able to work with us. It is a very hard market to break into but if you can the money is good and it also brings other opportunities life/health/gl/auto/home.
     
    Last edited: Nov 4, 2010
    rockaya, Nov 4, 2010
    #3
  4. GreenSky
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    GreenSky Guru

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    Good to know. I'm sure the posters from both 2 and 3 years ago have been waiting patiently for you to get here.

    But what is "Mad Mal?"

    Rick
     
  5. Brandy The Broker
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    Brandy The Broker Expert

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    I used to work for a Med Mal Company. The agents were in-house. Underwriting was no joke. Very very expensive. There wasnt much competition, so the doctors, etc would shop around.

    You want to sell Med Mal? Good Luck and God Bless.

    ~B
     
  6. Air Jer
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    Air Jer Guru

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    Brandy, I take it you think it is a losing proposition.
     
    Air Jer, Nov 4, 2010
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  7. Brandy The Broker
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    Brandy The Broker Expert

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    No so much a losing proposition, I wouldn't deny anyone (with the drive, persistence and patience) the possibilty of being successful at anything. It's just really no fun..not one bit. You start talking Med Mal to a specialist or an OB...and you just may need to call an exorcist.

    If OP perhaps has some insight and contacts within the medical industry (as I do), and can talk inteligently about risk with said physician, Med Mal may be a worthy avenue to pursue.

    That being said, I've never sold Med Mal, I worked in-house and got down with the underwriting side of things. I know Med Mal is required and needed for our litigous mindset society.

    Build those relationships and you'll be hard-pressed to fail at anything. (Sorry if I initally sounded like a downer, I'll work on that).

    ~B
     
  8. LGilmore
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    LGilmore Guru

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    since the original post is from 3 years ago, does anybody know how it worked out for the guy?

    I can guess how he did.
     
  9. GreenSky
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    GreenSky Guru

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    He's probably still reading up on the subject but I 'm sure he really appreciates the responses to this very old thread.

    Maybe someone can send him a PM to be sure he sees that we still care.

    Rick
     
  10. Air Jer
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    Air Jer Guru

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    Rick, I appreciate your concern for the OP from 2 years ago but my curiosity was based upon the present. Nonetheless, your insight is appreciated. Keep up the good work!
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    Brandy the Broker, your response sort of confirms my thoughts. Our agency apparently has a very good connection to multiple markets for med pro but no one has pursued it to this juncture. There has been some talk within the agency about pursuing this avenue and I am to be the point person even to the point of the agency paying the freight for me to pursue the RPLU designation. I've been dragging my feet as I have no connections nor does anyone else have connections to the medical community. Chasing this market has struck me as tantamount to watching my daughter's dog chasing it's tail. Supreme effort that bears no fruit.
     
    Last edited: Nov 5, 2010
    Air Jer, Nov 5, 2010
    #10
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