Skip to main content

Selling Individual-Based Coverage: Medical Malpractice Insurance Broker


If you are interested in helping others help themselves, are independent and enjoy meeting people and striking up conversations, a career as a medical malpractice insurance broker might be for you. As an independent agent, or broker, you will help physicians find the right kind of malpractice coverage for their practice. Here is some background on the career or medical malpractice insurance broker that you should consider before deciding if this is the career for you.

Basics

Most of the time, insurance agencies will hire applicants with a college degree, specifically in business or economics, as well as a license to work in insurance. Insurance companies will require that you are capable to sell to the customers, to be independent in your occupation. As a medical malpractice insurance broker, you would have to have the training and/or experience to be able to sell sufficient insurance to different practicing doctors.

Income

If you are just beginning a career as a medical malpractice insurance broker, or any other insurance broker, you would have to start out at around $30,000 to $66,000. The median income is around $40,000. Most companies pay commission only, which is based on how much you are able to sell, while others pay by salary and commission, salary only or salary plus bonus.

Customers

As a medical malpractice insurance broker, you will work with clients who are physicians or other medical practitioners in need of insurance coverage. The way to determine their coverage is to assess their risk, look at the value of their assets including their practice, their past claims (if any) and long term stability. By this, you can determine their premiums, and how much they will have to pay for their insurance. You may be encouraged to recommend full coverage, in the event of a lawsuit or should any other unfortunate event occur.

If you are a go-getter, wanting a career that will allow you to move up, but also want to help keep others out of financial harm's way, consider a career as a medical malpractice insurance broker. With this type of career, you have the potential to earn a sustainable income with the potential of a bonus, plus use your skill in sales and verbal communication to get ahead. Also, since your clientele will be doctors, it is especially a choice that is good for you financially.

Popular posts from this blog

Should There Be a Separate Law for A Specific Malpractice Medical Case?

There has been great controversy on the law and its application with regard to any specific malpractice medical case. The general laws are sometimes too general to do justice to the particularity of specific medical cases. Due to this failure, the doctors who actually commit malpractice escape through the loopholes that the general law permits them. It has long been debated that a specific malpractice medical case should be tried by a special type of court where the judge and jury should be sufficiently knowledgeable on the technical and non-technical factors of that type of medical case. For example, a cancer medical malpractice case should be treated as a specific malpractice medical case in the court of law so it can be easier for the law to take its course. Can a specific malpractice medical case help the claimant win faster? Theoretically speaking, a specific malpractice medical case filed as such can indeed focus the law on the specific factors better than general law.
Read more

Electronic Medical Billing Software

There are several reasons why people are attracted to medical billing and coding as a career. That is why it is no small wonder that medical billing and coding is the fastest growing career choices and occupations, according to the CareerInfonet website. Enjoyment This is perhaps one of the top reasons why people decide to go into the field of medical billing and coding. They work as medical billing specialists simply because they enjoy the healthcare field. Medical technology and anatomy are but child's play to them. They are trained for it so it's only logical that they go into that particular field in medicine where they can make use of their talents and skills. Understanding numbers and codes are also equally important. These are, after all, the scope of medical billing and coding responsibilities, all of which requires some specific knowledge and skills, not only in providing service but in using tools such as electronic medical billing software. Independence Med
Read more