Founder of The Midwife Plan, Ann Geisler, would like to share her expertise on some common questions that come up when discussing birth center malpractice insurance with her clients:
Is it common practice in the malpractice insurance industry to shop around at renewal time?
Yes, as an Independent Agency, we have access to many different companies. Ann makes every effort to keep up with changes with all the insurance carriers we use because underwriting guidelines can change every few years. One carrier we have been using decided to no longer insure Birth Centers, so we have moved our clients from that carrier to ones that still write for that exposure. By shopping renewal applications we also get a feel for each carrier’s price point, guidelines for states to cover, positions on VBACs, Home Delivery, volume of business, number of midwives, etc. This helps us match the client to the best insurance company for their needs!
Is there a reason why my birth center malpractice insurance was moved to a different carrier?
Moving your insurance to another carrier could be a very beneficial move and offer many benefits as you grow your Birth Center. Staff changes, including adding additional midwives, use of substitutes or locum tenens are all covered by our preferred carrier where there would be additional charges under other carrier policies. This enables you to purchase a fixed-cost policy to budget for, and in many cases, a cost savings.
Is there a risk to frequently changing insurance companies to the point where they refuse to supply a policy quote? Is loyalty rewarded or does it not matter? I don’t want to burn all our bridges when only a few bridges exist.
“Jumping” from one company to another can be good or bad depending on the reason for the jump. Guideline changes sometime force a move or a change in business model of the client. Super high renewal premium increase is another good reason to move. All underwriters will look closely at multiple moves and take into consideration the reasons, but generally this is not held against you. All policies are not created equal, so it’s important to review your policy.
If you have any questions about birth center malpractice insurance please feel free to call Ann Geisler at (888) 985-3542 or email her at email@example.com.