Monday, February 07, 2005

Going bare, or nearly so.

In the near future, some Naples doctors may take great satisfaction ripping up — into little pieces — their malpractice insurance renewal notices.
And then, spying the scraps of paper in the trash, they may feel queasy over the dramatic change they're making. It's a leap from the tradition of paying the premium and trying not to let your blood boil, to becoming self-insured for medical malpractice. There's no insurance company there when the lawsuit is threatened.
The NCH Healthcare System has changed its long-held policy and now allows physicians in four specialties to stop carrying professional medical malpractice insurance. Instead, the doctors can self-insure by having an irrevocable letter of credit for $250,000 or escrow account with that amount.

From The Naples Daily News. Requires free registration. I believe in BugMeNot.