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NJ Med-Mal Discounts: Orthopaedic Surgeons of New Jersey (OSNJ) & OSPA (Orthopaedic Surgeons Purchasing Alliance)

NJ Med-Mal Discounts: Orthopaedic Surgeons of New Jersey (OSNJ) & OSPA (Orthopaedic Surgeons Purchasing Alliance)

28 Nov 2012
28, Nov Nov, 2012

The Orthopaedic Surgeons of New Jersey (OSNJ), through the OSNJ Medical Liability Insurance Purchasing Alliance, has arranged for discounts on medical liability insurance purchased through MDAdvantage of New Jersey. These med-mal discounts are 12 ½ % for General Orthopaedists and 7 ½ % for Orthopaedists who do Spine.

For the majority of Orthopaedic Surgeons, this will equal a discount of $6,000 on their annual med-mal premiums every year.

MDAdvantage is a medical malpractice insurance carrier dedicated to NJ physicians. MDAdvantage is rated A- (Excellent) by A.M. Best.

PriMed Consulting has worked with OSNJ for many years to provide medical malpractice insurance services for their members. PriMed’s services are available at no cost to you.

If you have any questions or need more information on your medical malpractice insurance, please contact PriMed Consulting (Ask for Dana, Prem or Gabrielle) at 800-528-3758.


MDAdvantage Receives A- (Excellent) Rating from A.M. BEST

29 Oct 2012
29, Oct Oct, 2012

October 24, 2012 A.M. Best, the nation’s most recognized insurance rating organization, assigned MDAdvantage an initial financial strength rating of A- (Excellent with a stable outlook.

A.M. Best recognized MDAdvantage’s recent strong operating performance, supportive capital position and favorable reserve development. In addition, A.M. Best also recognized the company’s dedication to risk management, its conservative investment portfolio, and commitment to sound underwriting and claim management principles. MDAdvantage’s experienced management team, with an in-depth knowledge of the New Jersey medical professional liability environment, was also acknowledged as a positive factor by A.M. Best.

MDAdvantage Insurance Company of New Jersey, a leading provider of New Jersey malpractice insurance, is committed to enhancing physician education, improving physician-patient communication and helping patients make better-informed decisions.

For more information, please contact PriMed Consulting. PriMed is an independent medical professional liability agency, with access to several reputable medical malpractice insurance carriers in NJ & NY. Phone: 800.528.3758. Email:

How the MedPro-Princeton Merger Benefits NJ Physicians

31 Aug 2012
31, Aug Aug, 2012

In January 2012, Princeton Insurance was acquired by Medical Protective/Berkshire Hathaway, which has resulted in enhanced product offerings and greater financial strength for their policyholders. The recent transaction will help New Jersey physicians and healthcare providers confront the challenges they face in a changing healthcare environment. Princeton Insurance has continually been recognized for its excellent customer service as well as Competitive Medical Malpractice coverage for New Jersey physicians especially in primary care specialties, such as Internal Medicine, Family Practice, and Pediatrics. Princeton Insurance is rated A+ (Superior) by A.M. Best.

What are the benefits?

  • Part-time rates can still be calculated as 21 hours or less per week (as they always have been) or can be calculated as 1,092 hours per year, which works well for physicians that travel for part of the year but work full/heavier weeks while in town.
  • Doctors who are on a Claims-Made Policy and switch in to Princeton Insurance Company, a division of MedPro, can qualify for a free tail fully earned after only 1 year with Princeton if they have a retroactive date from 48 months prior. Also, the age requirement of 55 has been removed. There is no longer an age requirement.
  • The new doctor discount has been extended into the doctor’s 3rd year in practice (was formerly 2 years). Now, a new doctor gets a 75% discount for their first year in practice, 30% in their second year, and 15% in their 3rd year.
  • New Jersey policyholders will still experience the sound service long-provided by Princeton Insurance, but will also receive the medical malpractice coverage benefits that MedPro/Berkshire Hathaway offers. The MedPro-Princeton combination marks a win for all NJ policyholders, who will continue to receive the same excellent service they have come to expect along with additional coverage services, resources, and enhanced protection

To obtain a quote from Princeton Insurance, please contact PriMed.

About Princeton Insurance

Princeton Insurance Insurance is the largest healthcare professional liability insurer in New Jersey, serving the state’s hospitals and individual medical and healthcare professionals continuously since 1975. With responsibility for over 19.000 healthcare providers and approximately $150 million in annual premium, Princeton is New Jersey’s leader in professional liability coverage and risk solutions for healthcare providers, including hospitals physicians, dentists, chiropractors, optometrists, podiatrists, and other healthcare facilities. Princeton Insurance is a MedPro/Berkshire Hathaway company with an A+ (Superior) rating from A.M. Best.

NJ Physicians: MedPro-Princeton Merger Yields Superior Financial Strength Rating

29 Aug 2012
29, Aug Aug, 2012

In January 2012, Princeton Insurance and Medical Protective (MedPro) merged operations in New Jersey to offer physicians a medical malpractice coverage option with a carrier of superior financial strength. In May 2012, the independent rating agency, A. M. Best, assigned Princeton Insurance a financial strength rating of A+ (Superior) with a positive outlook.

In their announcement, A.M. Best stated: The ratings take into consideration Princeton’s stand-alone attributes and the enhancement provided by its affiliation with The Medical Protective Company, their ultimate parent, Berkshire Hathaway Inc. and the future benefits to be derived from these relationships…The ratings also consider Princeton’s supportive capitalization, leading market presence in New Jersey and its much improved operating performance over the most recent five-year period. The positive outlook, is based on A.M. Best’s expectation of improved performance as Princeton deepens its relationship, both operationally and financially, with the related companies.

MedPro is a national leader in primary medical professional liability coverage and risk solutions for healthcare providers, including physicians, dentists, chiropractors, optometrists, podiatrists, other healthcare professionals, hospitals, and other healthcare facilities. MedPro has been protecting the assets and reputations of healthcare providers since 1899. Their offerings include professional liability insurance on both claims-made and occurrence forms.

MedPro is a national leader in primary medical professional liability coverage and risk solutions for healthcare providers, including physicians, dentists, chiropractors, optometrists, podiatrists, other healthcare professionals, hospitals, and other healthcare facilities. MedPro has been protecting the assets and reputations of healthcare providers since 1899. Their offerings include professional liability insurance on both both claims-made and occurrence forms.

Princeton Insurance has a 35 plus year history of local presence and dedicated service to physicians in New Jersey, with local expertise and long-term relationships. MedPro has industry leading financial strength and the expertise that comes from a century of service and a national presence. With Princeton and MedPro working together, physicians can feel assured and expect innovation that will lead the industry in meeting the needs of all types of healthcare providers.

If you think Princeton Insurance may be a suitable fit for you and your practice, contact us for further information.

NJ Orthopaedic Surgeons: Premium Decrease Announced by MDAdvantage

22 Aug 2012
22, Aug Aug, 2012

MDAdvantage Insurance Company of NJ announced on January 27, 2012 a significant decrease in premiums for Orthopaedic Surgery EXCLUDING Spine. The new premiums provide a savings of approximately 17%! In addition, OSPA (Orthopaedic Society Purchasing Alliance) members are eligible for another 12.5% discount on their premiums! The premiums for Orthopaedic Surgery INCLUDING Spine remain the same, and the OSPA discount of 7.5% is still available.

The good news is: All Orthopaedic Surgeons (who do not perform Spine surgery) insured with MDAdvantage realized significant savings at renewal after April 1, 2012. For new applicants, the premium savings were effective February 1, 2012.

The OSPA continues to provide premium savings to all their members. The savings on the medical malpractice premiums are substantial compared with the $1000 annual membership fee (or $2000 prepaid for 3 years). This membership fee is discounted for new-to-practice Orthopaedic Surgeons.

OSNJ Medical Liability Insurance Purchasing Alliance: Members of the OSNJ MLIPA can take advantage of discounts of up to 12.5% on their malpractice premiums

Specimen quote:


As mentioned above, discounts would apply to all Orthopedic Surgeons who qualify for the Medallion, Preferred or Standard premium tiers. Tiers are dependent on claims histories and other underwriting criteria

For more information, please contact PriMed Consulting.

About MDAdvantage
MDAdvantage is a company built by physicians…for physicians. MDAdvantage is focused on delivering medical professional liability insurance products based on sound financial and market strategies.

MDAdvantage provides a full range of services to help you reduce liability exposure in your practice. Our comprehensive risk management program includes CME-accredited seminars and workshops, home study courses and on-site practice assessments. Our team of claim professionals has earned a reputation for their superior clinical and legal expertise.

Our Knowledge is Your Best Protection

MDAdvantage Insurance Company of NJ Offers Supreme Advantage

8 Aug 2012
8, Aug Aug, 2012

MDAdvantage, a NJ medical malpractice insurance company, , offers a product enhancement that provides a greater level of protection for New Jersey physicians and their practices. Supreme Advantage goes above and beyond, offering New Jersey physicians critical business coverage to protect against the rising incidents of business risks beyond the practice of medicine.

Supreme Advantage consists of the following:

  1. Employment Practices Liability Insurance (EPLI)

  2. Privacy and Data Security Insurance (PDSI)

  3. Medical Practice Administration Insurance (MPAI)

Doctors have three purchase options:

  1. EPLI: $1 Million limit / $1 Million aggregate

  2. PDSI/MPAI: $1 Million limit for each coverage / $1 Million in aggregate

  3. All three coverages: EPLI and PDSI/MPAI

Employment Practices Liability Insurance (EPLI)
EPLI defends the insured for any claims arising out of employment practices relating to:

  • Wrongful demotion, discharge, or termination of employment

  • Employment-related misrepresentation

  • Violation of employment discrimination laws

  • Sexual and other harassment

  • Wrongful failure to hire

  • Negligent evaluation

  • Retaliation

  • Invasion of privacy

  • Employment-related defamation or infliction of emotional distress

Broad Form EPLI Option:
This option provides third party coverage for actions by an insured against a non-employee. Patient abuse, molestation and harassment are excluded; however, this coverage can be included for additional premium.

Privacy and Data Security Insurance (PDSI)
PDSI covers the following:

  • Network Security & Privacy InsuranceDefends the insured for any claims arising out of a breach of privacy, virus attack, denial or service, or HIPAA violation. The coverage is for electronic and paper-based information, and includes regulatory defense and the payment of regulatory fines or penalties.

  • Patient Notification & Credit Monitoring Costs InsuranceCoverage includes all necessary legal, public relations, electronic forensics, advertising and postage expenses incurred by the insured to notify third parties of a breach of information, as may be required in NJ. In addition, one year of credit monitoring is included.

  • Data Recovery Costs Insurance Provides reimbursement for reasonable and necessary amounts required to recover and/or replace data that is compromised, damaged, lost, erased or corrupted, including software costs.

Medical Practice Administration Insurance (MPAI)
MPAI covers the following:

  • Coverage for attorney and audit costs, as well as fines and penalties incurred in response to actions or proceedings resulting from Recovery Audit Contractor (RAC) audit findings

  • Defense costs, civil fines, and penalties coverage for billing errors, STARK and EMTALA proceedings

  • Broad definition of billing errors proceedings, which includes both governmental and commercial payer audits and investigations, qui tam plaintiffs, or voluntary self-disclosure.

Protect your practice with Supreme Advantage.

For more information, please contact us.