What You Should Know About Locum Tenens Malpractice Insurance

What You Should Know About Locum Tenens Malpractice Insurance

Physicians with locum tenens careers should always consider protecting their professional reputation and finances with locum tenens malpractice insurance. When working a temporary physician placement, malpractice insurance is provided for the most part. At Mint Physician Staffing, we hear many concerns regarding locum tenens malpractice insurance, how it works, and other things to know about it. Read and understand the information below regarding locum malpractice insurance prior to your healthcare job placement.

Claims-Made Insurance Coverage

A claims-made policy covers physicians for incidents that occur after the retroactive date of a policy and are reported while that policy is active. It’s common to purchase an extended reporting endorsement, also known as a tail, on top of the original contract. The tail is an extended coverage period that’s purchased to ensure coverage in the event of retirement, disability, termination, or even death. If the claim was made after the initial policy has finished, the tail will still cover the event if it happened while the policy was in effect.

Occurrence Insurance Coverage

Occurrence coverage provides more comprehensive protection than claims-made coverage does. With occurrence coverage, the locum tenens physician is covered for all alleged incidents that occurred within the active period of the policy, regardless of when the claim is filed.

General Liability Insurance Coverage

General liability covers the legal liability for claims involving bodily injuries and property damage not covered under the locum tenens malpractice policy. This includes claims such as libel, slander, or physical damage to a facility.

Limits of Liability

The standard locum tenens malpractice insurance is $1,000,000 per incident and $3,000,000 aggregate for the term of the policy. Before beginning a temporary physician placement, locum tenens physicians should check the limits with their physician staffing agency to be sure the coverage meets the standard.

Workers’ Comp

While working locum tenens careers, physicians are considered independent contractors, so they’re actually not entitled to workers’ compensation coverage from their physician staffing agency or from their healthcare facility.

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Stuart McKelvey

In 1996, Stuart McKelvey became employee number thirteen at Monster.com and grew in to the role of Senior Vice President by 1998. In 2001, Stuart began leading Monster Worldwide’s Asia Pacific region, generating over $400 million in sales across ten countries as group President. In 2005, he became the CEO of TMP Directional Marketing with the private equity company Audax Group. After these successes, Stuart made his move to purchase and build his own recruiting company.

In October of 2008, Stuart acquired the assets of Prime Staff—a Houston-based locum tenens company with a successful 12-year track record of placing physicians throughout the southeastern United States. After an overhaul of the business and re-branding to Mint Physician Staffing, the company has since quadrupled in size in terms of both employee count and revenue. As President, Stuart manages the company on a daily basis. He is purely a private individual investor and is not affiliated with any other company or private equity investor.

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