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Contact: Deborah Forina, CPSR, CISR
In 1986 The Woodland Group created a division entirely focused on insuring physicians throughout the State of New Jersey. Rather than write just the medical malpractice, we took an entirely different approach. We applied the firm’s 60 years of insurance risk management experience and began working with individual physicians, office managers, and practice managers to correctly insure their business insurance exposures.
We found out that while this was not a unique approach for us, it was for the health care industry. Most practices have never met their insurance agent, let alone had their business insurance reviewed and periodically updated. It didn’t take us long to find out that the insurance industry really didn’t understand the unique exposures inherent to insuring a medical practice. The industry offers only a generic business owners policy that is used universally to insure anything from a donut shop to a hardware store. There has been no significant attempt to address the needs of the health care profession.
The Woodland Group proudly introduces THE WOODLAND ALLIANCE PROFILE. The Woodland Group has applied their years of experience insuring hundreds of practices to create a product tailored exclusively for the health care provider. We listened carefully to physicians, office managers and practice managers in order to give you the coverages that are essential to correctly insure your practice. THE WOODLAND ALLIANCE PROFILE offers coverage that is absolutely unique to the insurance industry as well as the health care industry!
We also know from our experience that physicians are better insurance risks than the average account. If, in fact, your claims are less than what the insurance industry expects, why shouldn’t you pay less for your coverage?
CREATION OF A RISK PURCHASING GROUP
The Woodland Group has partnered with Selective Insurance Company to form THE WOODLAND ALLIANCE PROFILE. We have created a risk purchasing group so that our clients have the opportunity to share in the underwriting profits. Members of the group not only have the benefit of state-of-the-art policy crafted exclusively for the health care industry, but they can look forward to a significant reduction in their insurance costs, based upon the performance of the group.
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A Comprehensive Risk Management Approach to Insuring Your Practice |
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Coverage That Applies Exclusively to Your Profession |
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Simplified Application |
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24-Hour Turnaround Time |
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Competetive Pricing |
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An Emergency Claims Team That is Available 24 Hours a Day, 7 Days a Week |
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VIP Treatment by a Dedicated Insurance Team That Specializes in Working With Your Profession |
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Instant Accessibility Via E-mail, Fax, 800 Line, Pagers and Cell Phones |
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The Opportunity to Share in the Insurance Company's Profits on Your Group, Which May Substantially Reduce Your Insurance Overhead |
OTHER COVERAGES AVAILABLE:
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Medical Malpractice - representing Princeton Insurance Company, Medical Inter Insurance Exchange (MIIX), PHICO, and Pro Mutual. | ||||
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Managed Care Liability | ||||
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Employment Related Practices Liability - Every practice, no matter how well managed, is susceptible to an alleged claim of sexual harassment, discrimination, wrongful termination or violation of the American Disabilities Act. The cost of defense alone can be staggering! We have the ability to write coverage on practices from 1 employee up to 100, with limits from $100,000 to $1,000,000. Using deductibles and copayments we can show you how affordable this essential coverage is. We can also assist you in designing an office manual as well as provide risk management information in this critical area. | ||||
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Group Health | ||||
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Group Physicians Insurance Trust
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Homeowners & Automobile |
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Estate Planning |
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401K Plans |
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Annuities |
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Homeowners and Auto |
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Business Auto |
Q. Why did you choose Selective Insurance Company to provide the Insurance?
A. Selective Insurance Company is a stable insurance company with an A M Best’s ratings of A+ (Superior). In addition, The Woodland Group has represented Selective since 1932 and is one of their Top 10 Volume Agents nationwide.
Q. What coverages are eligible for the Profit & Sharing Component of The Woodland Alliance Profile?
A. All coverages are written as part of the business owners policy, such as: buildings, contents, medical diagnostic equipment, patients charts and records, computers, improvement and betterments, property of others, property in transit, employee dishonesty, and general liability. In addition, the workers' compensation is part of the profit sharing calculation.
Q. Do you write other coverages besides the BOP and Workers’ Compensation for practices?
A. Yes, we are a full service insurance agency. We provide physicians and their practices with a full range of insurance products, from medical malpractice to homeowners' insurance. However, those premiums aren’t subject to a return premium, as they are not part of The Woodland Alliance Profile.
Q. Do I have to wait until my next insurance renewal before I can be eligible for the coverages and savings offered by The Woodland Alliance Profile?
A. Not necessarily. We have enough pricing flexibility that we can usually demonstrate that it is cost effective to make a change mid-term. Once a practice is made aware of the gaps in their coverage, they usually want to make a move as soon as possible.
Q. What do you mean by an Emergency Claims Team?
A. Selective Insurance Company has created a claims unit that is specially trained on The Woodland Alliance Profile Product. They understand the sense of urgency when dealing with a physicians practice. You may reach them 24 hours a day/7 days a week using an 800 number. The Woodland Group will have direct access to the unit and will facilitate all claims.
Q. If this product is so broad and is offering a host of coverages not currently found in the market, won’t your product cost more than what I’m now paying?
A. The cost of our product will be competitive because we are using the basic insurance concept of spreading the risk amongst a large customer base. Since physicians offices are better than average risks, we have priced our policies accordingly.
Q. How do you plan on marketing The Woodland Alliance Profile Products?
A. This product should have strong appeal amongst MSO’s and IPA’s who want to bring a value added to their members. The product addresses the risk management concerns facing every practice as well as reduces their out-of-pocket costs. We will also be counting on physicians whom we have worked with to recommend us to their associates. The larger our premium volume becomes, the greater are our chances for significant premium returns. We will also be advertising in industry specific magazines to encourage physicians to contact us directly to discuss the program.
Q. How complicated and lengthy is your application?
A. We have purposely created a short-form application written in layman’s language with keys to explain specific questions. For us to do a thorough risk assessment, we will need to review your existing coverage in conjunction with our completed application.
Q. How long is your turn around time?
A. Twenty-four hours.
Q. Is anyone available to meet with me to discuss the program and my specific needs?
A. Absolutely. We are available to meet with you at your convenience, or we can schedule a telephone appointment.
Q. Once I become a client, how will I be treated at renewal?
A. You will be contacted 90 days before renewal by your customer representative to conduct a thorough review of your insurance program. We are also available during the year to answer any questions or to schedule an appointment.
If you still are not convinced to contact The Woodland Group, please take a momentTHE WOODLAND GROUP
BUSINESS INSURANCE BUYER’S SURVEY
FOR PHYSICIANS GROUPS
Let us show you why we are different ... Contact: debbie_forina@woodlandgroup.com
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