The offering will mainly target practices with one to 15 physicians. Credit: National Cancer Institute/Unsplash.

US insurance brokerage company Hub International (HUB) has announced the launch of its new offering, Independent Physicians Insurance (IPI).

HUB IPI has been introduced specifically for independent physicians and physician groups (practices with one to 15 physicians) in the US, with any speciality.

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It offers medical malpractice coverage benefits at reduced costs while ensuring that the benefits are on par with what large clinics and hospitals receive.

HUB said that its new offering is supported by an A M Best A (excellent)-rated carrier.

This IPI insurance solution can be availed by those with a good safety record, good claims history and proactive risk management practices.

HUB IPI also offers a range of other benefits such as aggressive claims management, legal assistance, and exclusive, personalised risk management solutions.

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Additional benefits include support from a governing body of physician peers from primary and speciality backgrounds.

According to HUB, its experts will help independent physicians develop a risk management strategy that closes coverage gaps while reducing costs.

The company’s brokers will also help the associated physicians in choosing the right insurance coverage, policies and procedures to mitigate the potential risk of accidents or errors, which could result in expensive claims.

North American Healthcare practice leader Pete Reilly said: “Physician groups often lack the purchasing power, resources and expertise to effectively address the risk management challenges and issues within their practice.

“With HUB IPI, physicians have access to a variety of physician insurance options, access to expertise and cost savings, giving them peace of mind when mitigating risks and obtaining insurance coverage for their practice.”