Best Malpractice Insurance Companies

Available nationwide, Proliability has been serving clients since 1949. It provides professional liability insurance to a wide range of industries, including healthcare workers and business professionals. Whether you’re a physician, dentist, pharmacist, therapist, or lawyer, you can get coverage through Proliability for your business. It offers group protection as well as individual coverage, so you can get coverage for legal entities, ancillary professionals, and other employees. Proliability is our overall choice because they can represent the most classes at competitive pricing.

The company even has coverage options for students. Students doing clinical work can get student malpractice insurance for as little as $30 per month. 

Proliability offers a range of coverage options depending on your industry, and you can choose between claims-made or occurrence-based coverage. The standard per occurrence limit of liability is $1 million, but coverage up to $5 million is available. You may qualify for a discount if you’re a member of a professional association, such as the American Association of Nurse Practitioners or the American Speech–Language–Hearing Association. 

Proliability only offers professional liability coverage. It doesn’t have other forms of business insurance, and its policies do not include cybersecurity coverage. 

Proliability is powered by Mercer Health & Benefits Administration, an AM Best A-rated company. 

The Nurses Service Organization offers malpractice insurance just for nurses. It’s been in operation for over 40 years and is the nation’s largest provider of nursing malpractice insurance, serving over 500,000 nurses. By specializing in nursing, the Nurses Service Organization is able to keep costs down while addressing the real risks of the job, making it our pick for the best for nurses overall.

Policies cover you for up to $1 million for each instance of a professional liability claim arising out of a covered medical incident. You’re covered for up to $6 million annual aggregate for all covered claims in the policy period. Your policy includes up to $25,000 in license protection, and up to $10,000 in first aid expenses. 

You can get a policy quote online; your insurance premiums are dependent on your location and profession. Rates can vary depending on your specialty, whether you are a nurse, nurse practitioner, clinical nurse specialist, certified registered nurse anesthetist, or nursing student. If you’re a recent graduate, you can get up to 50% off your policy. 

The Nurses Service Organization also offers other insurance policies, such as term life insurance, disability insurance, health insurance, and dental insurance. 

Nurses Service Organization policies are underwritten by American Casualty Company of Reading, Pennsylvania, a CNA company, which has an A rating from AM Best. 

Therapists and mental health providers face unique challenges and may face malpractice suits or state board complaints during their careers. 

The Healthcare Providers Service Organization is our choice as the best insurer for therapists because their policies are designed for the unique professional risks of practices where patients may visit offices or work with counselors via telemedicine. The company has been in operation for 30 years and has provided malpractice insurance to over 96,000 counselors nationwide. 

HPSO’s professional liability for counselors covers you up to $1 million each claim arising out of a covered medical incident, and up to $3 million annual aggregate for all covered claims within the policy period. Your policy also includes license protection, deposition representation, personal liability protection, and medical payments. Your HPSO policy is portable, so you can take it with you if you change jobs. 

However, HPSO does not offer general business liability protection or cybersecurity coverage. For mental health professionals who often rely on telemedicine, that’s a significant drawback. 

Your premiums are dependent on your location and coverage amount, but you may qualify for discounts that can lower your cost: 

• New graduate discount: New graduates can receive up to 60% off their annual premiums their first year, 40% off their second year, and 20% off their third year.
• American Counseling Association (ACA) discount: Members of the ACA can receive 10% off their premiums.
• Risk management discount: If you take a qualifying risk management course, you can receive a 10% discount that lasts for three years.

HPSO has an outstanding reputation. Backed by the Aon Corporation, it received an A rating from AM Best. 

Dentist’s Advantage was started as a small family-run insurance agency in 1949. Since then, it has expanded nationwide, covering dental practitioners in all 50 states, making it the premier resource for dental malpractice insurance and our top pick for the industry thanks to its wide array of discounts and coverage customizations. 

Dentist’s Advantage offers up to $5 million per incident and up to $6 million annual aggregate in professional liability coverage. You can choose your own deductible, which can be $0, $1,000, $2,500, $5,000, or $10,000. The higher the deductible, the lower your monthly premium will be. 

Your malpractice coverage gives you professional liability protection, license defense protection, and personal and advertising injury protection. 

The plan covers both dentists and offices, so the maximum limits may be low for some businesses. While Dentist’s Advantage does offer business owner policies, umbrella coverage, cyber liability protection, and workers’ compensation insurance, those policies are an extra cost. 

Dentist’s Advantage does offer several discounts. For example, members of the Academy of General Dentistry, dental school graduates, American Dental Association members, and part-time dentists can qualify for premium discounts. 

Dentist’s Advantage is operated by Aon Corporation, a major insurance company with an A rating from AM Best. 

Founded in 1975, State Volunteer Mutual Insurance Company was launched by a group of physicians to insure their own medical liability risk. More than 40 years later, the company insures over 19,000 physicians in Alabama, Arkansas, Georgia, Tennessee, Kentucky, Mississippi, Oklahoma, and Virginia. SVMIC gets our nod for the best doctor's malpractice insurance because it is designed by doctors to meet the unique needs of different types of medical practices. 

The company only offers medical malpractice insurance. When you apply for coverage, you can choose from a range of policy limits, from $1 million medical incident/$3 million annual aggregate to $10 million medical incident/$12 million annual aggregate. Each claim is managed by an in-house attorney, and policies include consent clauses and cybersecurity coverage. 

SVMIC is owned by its policyholders. As a policyholder, you have the right to vote for the board of directors who lead the organization and set the policy rates. And, SVMIC provides free ongoing education courses. Past topics include risk management, managing stress, and using telemedicine in your practice. 

While SVMIC is only available in eight states, it’s a good choice for physicians because it has an excellent reputation of doctors developing plans for doctors. It has an A rating from AM Best. 

Administered by Gallagher Affinity, a global insurance company that has been in operation since 1927, 360 Coverage Pros specializes in malpractice policies for lawyers, real estate agents, and accountants. It wins for the attorneys' category because its policies reflect the litigious nature of the industry and are prepared to back clients up with a team of legal analysts. 

Its lawyer malpractice insurance policy is a low-cost program designed for small law firms nationwide. It covers solo attorneys to practices with up to 19 attorneys; larger firms are not eligible. You can qualify for a plan with annual premiums as low as $800 per year. 

Coverage limits are available up to $10 million per year. However, only claims-made coverage is available. If you’d like cyber liability coverage, that has to be purchased separately; it costs $199 per year. 

Your coverage is secured by the Swiss Reinsurance Company, a major insurance provider with an A+ rating from AM Best.