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Greetings,

I know this (my) board is poorly populated, but I thought I'd ask anyway.

I recently (as probably many physicians have experienced) was aghast at my new malpractice insurance premiums (>100% increase from last year with ZERO claims) and have considered lowering my coverage limits to lower my premiums.

My concern with this is that if I DO ever get sued for more than my coverage limits, then I'll be open to seizure of personal/family assets.

One solution I hear about is a "family trust" to protect those assets.

Anyone with experience in setting one of these up? Who does one talk to? Where is there more information on such a thing?

Thanks!

DLC
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I have never been sued either and my rates are going up 68% next month. An OB/GYN pal I have keeps their limit to 1/3. I asked why, as I keep 3/5, and he said the more coverage you have, the more they sue for. Generally they say you're safe with 1/5 unless you are blatantly neglegent. We keep increased limits because in my biz when there is a poor outcome, it's usually catastrophic ( my group over-ruled me to lower limits)
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Thanks for your reply. I'm guessing neurosurg?

I was able to find another carrier that will allow me to keep my old limits and be at the 'old price', but who knows how long that'll last.

Thanks again,

DLC
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No, I'm an anesthesiologist. Thus if one is unlucky enough to encounter an unanticipated difficult airway and loose the airway...

Thankfully that does not happen often and when it does your skill can usually bail you out, but I think everyone has had some very close calls. I certainly have. That's why we are so careful to a fault.

Rather, my rates are going up because I live in NJ. Good reason isn't it?
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Yep. That's a great reason (NOT).

I'm getting awful sick of it, I must say...

DLC
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