If you are a medical professional looking for liability insurance and related services in New York, you might want to consider LAMMICO Risk Retention Group, Inc. (RRG).
LAMMICO RRG is a subsidiary of LAMMICO, one of the largest and most trusted providers of medical professional liability insurance in the US.
It offers coverage options for existing LAMMICO insureds expanding into states where LAMMICO is not licensed, and for unique risks that require flexibility and customization.
LAMMICO RRG has an excellent financial strength rating from AM Best Company, and provides unparalleled service, legal defense, risk management, and customer satisfaction to its policyholders.
In this blog post, we will explore what LAMMICO RRG can do for you, why you should choose them, and how to get in touch with them.
LAMMICO Risk Retention Group, Inc. (previously LAMMICO RRG, Inc.) obtained its license as a risk retention group and an association captive insurance company on September 25, 2012, under the DC captive insurance laws.
It started operating on November 14, 2012. LAMMICO, a Louisiana-based mutual insurance company, sponsored the Company to offer medical professional and general liability insurance to various health care providers and facilities in Alabama, Missouri, Oklahoma, Tennessee, and other possible states.
LAMMICO is the top authority of the LAMMICO holding company system. For more details about LAMMICO and its holding company system, please refer to the “Affiliated Parties and Transactions” section of this Report.
LAMMICO Risk Retention Group, Inc. contact
|1015 15th Street NW Suite 1000, Washington, D.C. 20005
|Customer Service contact
|Medical professional liability insurance and related services for real estate transactions in New York
LAMMICO Risk Retention Group, Inc. Services & Products
- Medical Professional Liability Insurance Coverage: This is a type of insurance that covers the legal liability of health care providers for injuries or damages caused by their acts or omissions in the course of their professional practice. It protects them from claims arising from malpractice, negligence, or errors and omissions.
- Business and Personal Insurance Coverage: This is a service that offers other lines of coverage for policyholders who need more than medical professional liability insurance. It includes car insurance, homeowners insurance, umbrella insurance, and cyber liability insurance.
- Risk Management: This is a service that helps policyholders reduce their exposure to potential claims and lawsuits by providing them with education, training, assessment, and consultation on various aspects of patient safety, quality improvement, and practice management.
- Legal Defense: This is a service that provides policyholders with experienced and aggressive legal representation in the event of a claim or lawsuit. It includes access to a network of attorneys, experts, and consultants who specialize in medical malpractice defense.
LAMMICO Risk Retention Group, Inc. claims
- Claim process: According to the LAMMICO website, to file a claim, you need to contact your local Marketing Representative or call the LAMMICO Claims Department at 800.452.2120. You will be assigned a Claims Specialist who will guide you through the process and answer any questions you may have. You will also need to complete and submit a Claim Report Form, which can be downloaded from the website or obtained from your Claims Specialist.
- Claim status: You can check the status of your claim by contacting your Claims Specialist or logging into the LAMMICO Online Services portal. You will need your policy number and password to access the portal. You can also view your claim history, policy information, and other resources on the portal.
- Required documents for claims: The documents required for claims may vary depending on the nature and severity of the incident. However, some common documents that you may need to provide include:
- A copy of the medical record of the patient involved in the claim
- A copy of the consent form signed by the patient or their representative
- A copy of any correspondence or communication with the patient or their representative regarding the claim
- A copy of any relevant policies, procedures, or protocols followed by you or your staff
- A copy of any expert opinions or reports obtained by you or your staff
- A copy of any other evidence or documentation that may support your defense or mitigate your liability
If you are interested in working for LAMMICO, a medical professional liability insurance company, you can explore their career opportunities on their website.
LAMMICO employs various professionals, such as physicians, nurses, lawyers, accountants, and marketing and sales representatives.
They offer competitive compensation, flexible work schedules, professional development opportunities, and wellness programs to its employees.
LAMMICO has also received several awards for being a top workplace and a best and brightest company to work for.
Some of the featured careers that LAMMICO is currently hiring for are:
- Senior Field Representative
- Assistant Underwriter
- Trial Attorney
- Business Development and Agency Coordinator
You can apply for these positions online by filling out an application form and uploading your resume.
What is LAMMICO Risk Retention Group, Inc.?
LAMMICO Risk Retention Group, Inc. (LAMMICO) is a medical professional liability captive insurance company that provides malpractice insurance coverage to physicians, physician partnerships, and professional medical corporations.
It is a mutual insurance company, meaning that its policyholders are also its owners.
This structure gives policyholders a direct voice in the company’s governance and a share in its profits.
What are the benefits of insuring with LAMMICO?
- Competitive premiums: LAMMICO’s premiums are typically lower than those of traditional malpractice insurers.
- Strong financial strength: LAMMICO has a strong financial strength rating from AM Best Company, which means that the company has the financial resources to pay its claims.
- Excellent customer service: LAMMICO is known for its excellent customer service. The company’s staff is knowledgeable and responsive to policyholders’ needs.
- Risk management resources: LAMMICO provides a variety of risk management resources to help policyholders prevent medical malpractice claims.
- Continuing education: LAMMICO offers continuing education opportunities to help policyholders stay up-to-date on the latest medical practices and risk management techniques.
What is a captive insurance company?
A captive insurance company is a risk-bearing entity that is owned and controlled by its policyholders.
Captive insurance companies are often used by businesses to self-insure their own risks.
In the case of LAMMICO, the policyholders are physicians who are self-insuring their medical malpractice risks.
What is risk retention group (RRG)?
A risk retention group (RRG) is a type of captive insurance company that is specifically designed to insure the risks of a particular industry or profession.
LAMMICO is an RRG that insures the risks of physicians.
Who is eligible for LAMMICO insurance?
LAMMICO insurance is available to physicians, physician partnerships, and professional medical corporations in all 50 states.
How can I get a quote from LAMMICO?
To get a quote from LAMMICO, you can either call the company or visit its website.
You will need to provide information about your practice, such as the number of physicians, the number of claims you have filed, and your specialty.
What is a medical professional liability policy?
A medical professional liability policy, also known as malpractice insurance, is designed to protect physicians from financial losses if they are sued for medical malpractice.
What does a medical professional liability policy cover?
- Bodily injury: Damages for injuries caused by the physician’s negligence.
- Property damage: Damages for property damage caused by the physician’s negligence.
- Defense costs: The costs of defending a medical malpractice lawsuit, regardless of the outcome of the lawsuit.
How much does a medical professional liability policy cost?
The cost of a medical professional liability policy varies depending on several factors, including the physician’s specialty, practice location, claims history, and experience.
What is a financial strength rating?
A financial strength rating is an assessment of an insurance company’s financial stability. The top three financial strength ratings are:
- A.M. Best: A++ (Superior)
- Standard & Poor’s: AAA
- Moody’s: Aaa
What is an issuer credit rating?
An issuer credit rating is an assessment of an insurance company’s ability to meet its financial obligations.
The top three issuer credit ratings are:
- A.M. Best: A
- Standard & Poor’s: A
- Moody’s: A3
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