Take
a look at your current professional liability insurance
policy. Lurking deep within your consent to settle provision
could be a "hammer clause."
Some
insurance policies include a clause that if an insured
withholds consent to settle, the insured will have to
pay out of their own pocket any judgment in excess
of the proposed settlement amount.*
That
practice may not be in the best interest of conscientious
psychiatrists concerned with defending their reputation
and practice, and that is why there is no "hammer
clause" in The Psychiatrists' Program's policy.**
Learn
more about how the "hammer clause" affects
psychiatrists with our article, Beware
the Hammer Clause.
For
more information about how a "hammer clause"
could affect you and your practice, either call (800)
245-3333, ext. 389 or e-mail us.
