MEDICATION ASSISTED TREATMENT FOR OPIOID ADDICTION: Challenges and Solutions Part 3. The Challenge: Professional Liability Premiums Were Increasing
Professional liability insurance companies began to experience a hardened market that caused subsequent and major increases in premiums to OTPs, the elimination of certain covered categories, and the increased utilization of less protective claims-made policies for treatment programs. The hardening of this market (increasing premiums) had the greatest impact in the late 1980s. Solution
The Northeast Regional Methadone Coalition began to work with insurance representatives (David Szerlip & Associates) and other professional liability companies to educate insurance underwriters about opioid addiction treatment and bring new firms into the marketplace. The Regional Coalition conducted insurance surveys among its members to establish the first independently created claims database, which was shared with the professional liability market. As a result, new companies entered the marketplace, premiums began to decrease, occurrence form liability policies became widely available, and there was a decreased danger of eliminating other insured categories, such as treating pregnant patients. What May Have Happened If AATOD Had Not Acted
Insurance premiums would have increased sharply. Claims-made policies would have continued to be dominant in the marketplace, and there would have been greater elimination of covered practices in the OTP environment. It is safe to suggest that there would be fewer professional liability carriers in the United States and a number of programs would have been closed due to litigation or lack of affordability of an insurance product. Accordingly, OTPs have saved millions of dollars in professional liability insurance premiums during the past two decades.
We are not bad people trying to become good, we are sick people trying to become well.
Methadone; A Flicker Of Light In The Dark
We are available 24 hours a day, 7 days a week.
If you cannot afford to call us, send us an email and
we will call you at our expense.
Office: 1-770-334-3655~ Cell: 1-770-527-9119
ALL INFORMATION IS KEPT STRICKLY CONFIDENTIAL