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The hard insurance market is leading to major changes in the insurance policies offered to health care providers, says William McDonough, MPAH, ARM, FASHRM, segment leader-manager for health care and senior vice president and national practice leader for Marsh, a major insurance broker in New York City. Carriers generally are offering less and charging an arm and a leg if you want higher limits, he says.
McDonough says you can expect to see these trends in malpractice insurance:
Many carriers now have long-term care minimum deductibles of at least $25,000, and they will offer quotes for deductibles as high as $500,000.