Medical Malpractice Insurance Services

Medical malpractice insurance covers claims alleging negligence, misdiagnosis, surgical errors, medication mistakes, or failure to treat. It typically pays for legal defense costs, settlements, and court-awarded damages. Policies also commonly include coverage for licensing board proceedings and can extend to employed staff under a group practice policy. Coverage limits, retroactive dates, and tail provisions vary by policy form.

A $1 million/$3 million malpractice policy means the insurer will pay up to $1 million for any single claim and up to $3 million in total claims during the policy period. This is the most common limit structure for individual physicians and small group practices. Higher limits — such as $2 million/$6 million — are available for higher-risk specialties or practices with greater patient volume.

A claims-made policy covers claims filed while the policy is active, regardless of when the incident occurred — but you'll need tail coverage once the policy ends. An occurrence policy covers any incident that happened during the policy period, even if the claim is filed years later. Occurrence policies typically cost more upfront but eliminate the need to purchase tail coverage.

If you have a claims-made policy, tail coverage — also called an Extended Reporting Period endorsement — is strongly recommended. It covers claims filed after your policy expires for incidents that occurred during the original coverage period. Tail coverage is especially critical when retiring, changing employers, or switching insurers, as malpractice claims can surface years after a patient encounter.

Any licensed healthcare provider who delivers patient care should carry malpractice insurance. This includes physicians, surgeons, nurse practitioners, physician assistants, therapists, chiropractors, dentists, and allied health professionals. Outpatient clinics, group practices, ambulatory surgery centers, and telehealth providers also require professional liability coverage — often with facility-level policies in addition to individual provider coverage.

Malpractice insurance premiums vary based on specialty, location, claims history, coverage limits, and policy type. Low-risk specialties like psychiatry or family medicine may see annual premiums of $5,000–$15,000, while high-risk specialties like surgery or obstetrics can exceed $50,000 per year. Soma works with multiple specialty carriers to find competitive rates tailored to your specific practice profile.

Yes. Soma specializes in placing malpractice and healthcare liability coverage for providers that standard markets decline — including those with prior claims history, high-risk specialties, or complex practice structures. Through our relationships with specialty carriers like CRC Group, Chubb, and Kinsale, we access programs specifically designed for difficult-to-place healthcare risks.

Absolutely. Soma builds complete healthcare insurance programs that go beyond malpractice to include HIPAA-aligned cyber liability, medical equipment inland marine, facility property coverage, commercial auto for medical transport, and professional liability for allied health staff — all coordinated through a single application to eliminate gaps and ensure seamless coverage across your entire operation.