Physicians in New Jersey have gained a new insurance provider as the New Jersey Healthcare Providers Insurance Exchange (NJHPIX) opened June 29.
Following nearly a year of planning and cooperative interaction with the New Jersey Department of Banking and Insurance, NJHPIX is now approved to offer medical professional liability insurance to the state’s 20,000 physicians with a back-to-basics approach: a proactive relationship between insurer and physician that empowers doctors and mitigates risk.
“NJHPIX offers significant advantages to our insureds,” said NJHPIX president Robert Schultz. “We offer doctors the chance to have their voices heard. As we evaluate each doctor for membership, our underwriters listen to their perspectives on past claims, looking beyond mere statistics for other factors that may have influenced claim decisions. This insight helps NJHPIX make appropriate and fair decisions regarding membership and premiums.
“NJHPIX membership provides active risk management programs that help physicians control costs and earn continuing medical education credits, a three-year underwriting guarantee for physicians accepted into the program, flexibility that includes deductibles and full-time equivalents, joint defense – when appropriate – to control expenses and help stabilize rates, and solid reinsurance arrangements with A-rated or better carriers,” Schultz added.
NJHPIX insurance is available through a network of independent insurance agents in New Jersey.
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