Customizing Your Policy to Suit Your Needs

Malpractice polices can be customized to fit your individual needs. Here are some aspects of your policy it makes sense to review each year.


Customizing Your Policy to Suit Your Needs

While we've discussed both types of malpractice policies you can select from NCMIC, they are certainly not “one size fits all.” You have the ability to choose the limits of liability, become eligible for certain premium discounts, insure your professional entity and add dual licensure coverages.

As you look to protect your patients, practice and assets, you will need to answer a difficult question. How much coverage will you need to protect your practice and your financial future? While you might be tempted by price to opt for a lower policy limit, particularly when you are first starting out, lawsuits are often a process of negotiation and compromise. Without adequate coverage, your personal assets may be at risk. NCMIC offers an array of policy limits from which to choose.

NCMIC gives D.C.s the opportunity to earn premium discounts in a variety of ways. Discounts are available for maintaining a claims-free status, attending NCMIC-sponsored risk management courses and practicing part time.

If you do business under a professional entity of which you are the majority owner, your entity is at risk if a malpractice lawsuit is presented against you or one of your associates. NCMIC may provide coverage under your existing malpractice policy with Shared or Separate Limits (in accordance with state regulations). If you have incorporated, make sure to review your policy with NCMIC.

Many chiropractors have additional licenses or certifications. Without the proper endorsements on your policy, you may not be fully covered. If you have an additional license or certification in Acupuncture/Oriental Medicine, Physical Therapy, Massage Therapy, Treatment of Animals, Naturopathic, or Manipulation Under Anesthesia, please contact NCMIC to discuss adding appropriate coverage.

It is important to review your policy annually to keep your coverage up with the growth of your practice.

As always, our representatives are here to answer any questions. They may be reached at 800-769-2000, ext. 3555.

The information in the NCMIC Learning Center is offered solely for general information and educational purposes. It is not offered as, nor does it represent, legal or professional advice. Neither does this information constitute a guideline, practice parameter or standard of care. You should not act or rely upon this information without seeking the advice of an attorney familiar with the specific legal requirements of the state(s) in which you practice. If there is a discrepancy between the site and an insurance policy you have with NCMIC, the policy will prevail.