Why You Should Stick with a Leader

Recently, a doctor asked the question: “Can you tell me the benefits of staying with NCMIC for my malpractice insurance?”


Why You Should Stick with a Leader

While on the road recently, a doctor asked me why he should stay with NCMIC for his malpractice insurance. Here is what I told him--and what many doctors may not have considered.

I found this question intriguing because it wasn’t posed the typical way many chiropractors seem to think about malpractice insurance. It asked about the benefits of staying vs. leaving. I could’ve easily rattled off obvious benefits such as the fact NCMIC insures more chiropractors than any other chiropractic malpractice insurance company and chiropractic colleges and universities across the U.S. Or how the company has provided premium dividends to policyholders every year since 1996.

Instead, I asked him my own questions:

Are other companies as dedicated to chiropractic and will they work as hard as NCMIC to protect your reputation and practice when it counts?

When your reputation is on the line, you deserve the best claims representatives and defense attorneys possible. You don’t want to be backed by a company that outsources claims to an outside insurance company, or one whose claims staff and attorneys don’t know much about chiropractic issues. Instead, it’s vital to have a knowledgeable, experienced company that specializes in chiropractic as its core business fighting for you. You can count on that with NCMIC.

Does any other company have NCMIC’s experience and knowledge? 
There’s nothing more frustrating than talking to a claims representative on the phone who has no idea what you’re saying, or having a defense lawyer who doesn’t believe in the value of the chiropractic profession in healthcare. That won’t happen with NCMIC. There isn’t much NCMIC’s claims staff hasn’t heard or experienced before. Plus, NCMIC strives to “weed out” defense attorneys who don’t understand chiropractic. If you face a lawsuit, you can rely on NCMIC to provide you with a powerful defense team that understands all the details that may make the difference in your case.

Does your malpractice insurance company support the profession?
When selecting a malpractice insurance company, it’s important to ensure the one you pick is invested in giving back to chiropractic rather than just benefiting from it. Look for one that supports chiropractic research and educational programs, funds research for chiropractic, takes an active role in state and national professional organizations. It’s also vital that your malpractice insurance company possesses a keen understanding of the issues facing the chiropractic professional today. In fact, since 1995, NCMIC has provided over $13.1 million in support of chiropractic research and education.

Would another company offer more financial stability than NCMIC?
Your malpractice insurance company should be there for you in the long haul. One good way to check a company’s staying power is to assess its financial position, including A.M. Best industry ratings. NCMIC has maintained an “A” (Excellent) rating for several years, which has allowed them to pay premium dividends to policyholders every year since 1996. A well respected and involved company is more likely to be around for a long time and there when you need them.

Before you think about switching malpractice insurance companies, or choosing one for your policy, ask yourself these questions.

Learn more about great reasons to stick with the leader in chiropractic malpractice insurance.

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.

Industry Analyst A.M. Best ratings range from A++ to S. See www.ambest.com. Premium dividends are not guaranteed.