Episode 50: Medical Malpractice Insurance Explained for Concierge Doctors-Occurrence vs Claims Made

Starting a concierge or direct primary care practice?Understanding medical malpractice insurance is critical — and many physicians get this wrong.In this episode of the Concierge Medical Marketing Podcast, Steven Schwarz interviews Jennifer Wiggins, CEO of Aegis Malpractice Solutions, to break down everything physicians need to know before choosing a malpractice policy.🚀 What You’ll Learn in This Episode✔ The difference between occurrence vs claims-made insurance✔ What tail insurance is (and why it can cost thousands)✔ How to avoid unexpected malpractice costs when leaving a job✔ Why concierge & DPC doctors often pay LOWER premiums✔ How to choose the right malpractice coverage for your practice✔ Common mistakes physicians make when buying insurance💡 Key Concepts Explained1️⃣ Occurrence vs Claims-Made InsuranceOccurrence Policy → Covers incidents when they happenClaims-Made Policy → Covers when a claim is filedEach has different pricing, risks, and long-term implications.2️⃣ Tail Insurance (Critical!)If you have a claims-made policy, you may need tail coverage when you leave a job or close your practice.💰 Typical cost:• ~1.5x to 2x your annual premiumThis is one of the biggest surprises for physicians.3️⃣ Discounts for Concierge & DPC DoctorsConcierge and DPC physicians often:✔ Spend more time with patients✔ Have better relationships✔ Face fewer lawsuitsBecause of this, many insurers now offer discounted malpractice rates.⏱ Chapters00:00 Introduction00:24 Meet Jennifer Wiggins (Aegis Malpractice Solutions)01:00 How Jennifer Got Started in Medical Malpractice04:05 Why She Started Her Own Brokerage06:05 Occurrence vs Claims-Made Explained09:30 What is Tail Insurance?11:20 Tail Coverage When Retiring13:30 Statute of Limitations & Risks16:15 Cost of Tail Insurance19:10 How the Quote Process Works21:40 Timeline to Get Coverage24:26 Discounts for Concierge Doctors26:18 Why Specialization Matters in Insurance Brokers26:58 How to Contact Jennifer