The Quantum Agency, a subsidiary of The Quantum Group, has added a new insurance product to address the rising medical insurance premiums for physicians - Medical Legal Expense Reimbursement Insurance.
The new Medical Legal Expense Reimbursement insurance coverage offered through The Quantum Agency is targeted for physicians who have chosen not to carry standard professional liability insurance or who have indemnification of liability from other sources. This coverage provides legal reimbursement, which can help protect a physician’s assets without being cost prohibitive.
According to the company, the highlights of the Medical Legal Expense Reimbursement insurance coverage include reimbursement for legal expenses incurred for a medical malpractice claim against the provider, a peer review proceeding, a license review board proceeding and hospital privileges.
Available coverage limits run from $100,000 to $500,000, and the insured can select whether they would like to use their own counsel.
Noel Guillama, president and CEO of The Quantum Group, said: The mission of The Quantum Group of Companies is to provide cost-effective and efficient solutions for healthcare providers. We believe this product meets the high standards we have set for our services and solutions and takes aim at the inherent risks physicians take by operating without coverage – including loss of personal assets and even their professional reputation.