Why Join?

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Malpractice Insurance

is a cyclical business defined by extremes in rates, availability of coverage and limits of liability offered.

Most recent “hard market”
was in 2001

hard-market




Cyclical Instability

When rates are high, coverage is limited and overall profitability increases, which causes more and newer insurers to enter the marketplace.

Ultimately the level of competition to write more business increases & drives rates down and liberalizes both coverage and limits offered.

With pressure to maintain direct written premium volume, insurers compromise sound underwriting principles and some even sacrifice important claims and risk services to improve financial performance.

Stock companies have even greater pressure to show short-term profits, exacerbating this problem and leading to long-term loss of profitability.

instability


WHAT WE DO:

  • DocSecure is a wholly-owned Special Purpose Captive organized for conversion to a Risk Retention Group (RRG) as defined by the state of New Jersey and most other states in the USA.
  • Each member/insured will own stock in the company as a policy holder/investor (full details regarding financial structure of DocSecure will be made available in the prospectus).
  • DocSecure will be further supported by credible, highly-rated outside insurance and reinsurance companies that will strengthen DocSecure’s financial position and long-term stability and viability.
  • In the DocSecure business model, company performance will be enhanced by retained underwriting profits and investment income, positioning membership as a “performing investment opportunity for physicians.”
  • Insurance premiums paid by members contribute to company performance and benefit all member/investors.
  • Membership in DocSecure is only available to a select group of the very best pysicians and medical practices in the state.
  • It is designed for doctors who want to have more control over their malpractice insurance options – and who want to stop insurance companies who focus more on profit than service.
  • It is ideal for doctors who want to turn a “significant expense” into long-term performing asset.
  • If you’re tired of the uncertain and unstable malpractice insurance cycle and prefer to invest in your own capabilities – become a part of DocSecure.

OUR BENEFITS:

COVERAGES OFFERED BY DOCSECURE

  • Coverage available at $5 million per claim and $7 million annual aggregate for most practices and specialties.
  • Basic coverage made available on “claims made” basis, with “modified occurrence” coverage also available.
  • Prior Acts (aka “Nose”) Coverage – Available to enable easier transfer from prior insurer to DocSecure by eliminating the need to purchase costlier Tail Coverage from previous insurer and enduring a gap in future coverage.

MODIFIED OCCURRENCE

  • Includes pre-funded extended tail coverage options to reduce premiums and keep protection in place for doctors following termination or retirement.

TRADITIONAL OCCURRENCE COVERAGE

  • Through our relationship with Coverys, we now can, in addition to offering “Modified Occurrence, also offer “Traditional Occurrence” as well. Thus the physician/client has the option of a Prefunded Tail (Modified Occurrence) or a Tail included Occurrence cover. Please speak with an authorized representative of DocSecure (Gallagher) or a Employed Professional from DocSecure (Ralph Serio) to discuss the benefits of both Options to determine which is best suited for you.