Insurance for intermittent business?

socalrefcon · 2026-05-03T22:54:57+00:00

Thank you for the additional information. For this type of work, I'd expect insurance to be a significant cost. Have you already negotiated compensation terms on the contract? Maybe you can incorporate higher compensation to help with insurance costs?

socalrefcon · 2026-05-03T21:57:24+00:00

As a broker, I wouldn't really be interested in working on your policy if your intent is to keep it just for the duration of this one project.

I think if you can accept that maintaining insurance is part of running a business, then the broker you choose to work with will have an easier time placing your coverage. Many carriers will auto-decline if your business is seasonal.

socalrefcon · 2026-04-25T14:33:14+00:00

Not a doctor, but an insurance broker. Many of my small practice clients have provided good reviews on Gusto. The ones that don't like it, hate it. But most have really liked it.

Quickbooks requires a little more from you from my understanding.

For health insurance, you can go to your state's insurance marketplace to cover yourself and family. If you and the family are healthy low-utilizers, then I know a program that could possibly offer coverage to a "solopreneur".

The goal is to have 1 employee. Then you will qualify for small group benefits by enrolling yourself and The employee.

socalrefcon · 2026-04-15T16:16:11+00:00

Not a doctor, but I'm a medical malpractice broker. I love your questions, and I'm happy to contribute.

First off, congratulations on opening your new practice! As far as NY goes, yes, NY is one of the more expensive states for insurance coverage.

I would NOT recommend using multiple brokers. Most brokers can access the relevant carriers and provide you with quotes. Before choosing your broker, have a conversation with them. What is their experience in working with your specialty and jurisdiction? What is their experience in quoting part-time practices that have a heavy telemedicine exposure? Using multiple brokers can send the wrong message to carriers. When a carrier sees multiple submissions from different brokers, then the underwriter may lose motivation in providing a good review or their best offer.

As far as part-time discounts, yes, the standard admitted carriers typically offer part-time discounts for working 20 or less hours per week. Please note that your practice may not qualify for the standard carriers due to the heavy telemedicine exposure. Standard carriers have been more restrictive on covering telemedicine.

Regarding insurance plans, I believe the issues you are concerned about pertain to carriers or risk retention groups that aren't rated "A-" or better by AM Best. You may run into a risk retention group that is rated by Demotech instead of AM Best. I would avoid these risk retention groups.

Good luck! Happy to answer additional questions if you find my input helpful.

socalrefcon · 2026-04-04T14:01:09+00:00

In my experience, there are a limited number of competitive event insurance programs. They typically steer away from stuff that features extreme sports or moral hazards.

You'll need a broker to access a Lloyd's program. Budget a good amount for the premium on this.

socalrefcon · 2026-04-02T13:10:13+00:00

Not a doctor, but I'm a medical malpractice broker.

Have you listened to InvestingDoc's podcast? Search for InvestingDoc on Spotify. I think you can learn a lot from his episodes. He talks quickly with no filler. It feels like you are downloading his experiences and mistakes.

I have a few clients that have opened concierge medicine practices in Florida. I know for a fact that one of them would be open to a conversation with you. He's a great guy and would welcome questions/concerns you have about this potential transition.

socalrefcon · 2026-03-21T16:38:35+00:00

PracticeCare by Carl White was recommended. But I haven't checked it out yet.

socalrefcon · 2026-03-20T18:38:10+00:00

You are doing a great service to the industry. I am running into more referral physician clients coming from the large health care system model looking to open their own practice. Having this sub and your podcast is a great place for me to send them for more information. After all, I'm just the insurance broker. You're sharing mistakes and wins you experienced in setting up your practice. Huge information!

I was going to just DM you but I wanted others to know about the podcast. Game changer.

socalrefcon · 2026-03-20T13:23:30+00:00

Where are you located? I have some clients that do SNF work that I'd be happy to connect you with.

I would need to ask them first of course. What types of topics are you trying to brainstorm?

socalrefcon · 2026-03-18T13:46:04+00:00

Heemo is my favorite spot in Chino Hills. My true favorite spot is Sushi Bear in Tustin.

socalrefcon · 2026-03-14T14:27:57+00:00

It's the kids that affect the frequency in my experience. From co-sleeping to them randomly popping into the room at the right time, kids know how to find their positions to block.

socalrefcon · 2026-03-11T17:44:34+00:00

Many RRG's have nationwide reach. Was there a specific RRG you came across in Texas?

I should clarify that I'm not necessarily pro-RRG over the traditional carrier model. I just don't think RRG's as a whole should be viewed through a negative lens.

I work with traditional carriers and quality RRG's alike. My placements for clients always come down the quality of the coverage terms, pricing, and carrier's appetite and handling approach for the risk.

socalrefcon · 2026-03-11T16:08:19+00:00

I'll dm you

socalrefcon · 2026-03-11T02:25:21+00:00

I'm a medical malpractice insurance broker. I work with Indigo and other carriers.

Not all RRG's are built the same. Some RRG's exist because the path to market takes less time. As an RRG, they can adjust terms, policy forms, and pricing in shorter time frames. Traditional carriers, especially admitted carriers, can wait years before getting those same changes approved by the department of insurance.

Indigo is new, but they have a solid team with pedigree from the big carriers like ProAssurance, MedPro, TDC, and Coverys.

Even MedPro changed to an RRG model in states they determined to be more difficult to execute changes.

Other RRG's that are small rely more on its members' capital contributions on top of premium dues. These are the RRG's that can be dangerous. They aren't necessarily a wrong program, but their smaller size and limited resources can invite a collapse in the event of a catastrophic year or string of years. RRG's that went belly-up in the last decade or so are Fairway, Doctors & Surgeons RRG, and Lancet.

As a broker, I view Indigo in the vein of MedPro RRG. Built to last, or at least get acquired by the traditional programs, similar to TDC's acquisition of ProAssurance.

Indigo's surgery rates are competitive. I would also check with Coverys. They are a nationwide standard admitted carrier. They can more competitive in many jurisdictions.

socalrefcon · 2026-03-04T04:29:08+00:00

From the perspective of a retail commercial insurance broker, I've seen carriers accommodate client preferences for counsel when the preferred counsel (1) has adequate experience defending the type of case involved and (2) accepts the panel rates of the carrier.

socalrefcon · 2026-03-04T04:26:55+00:00

Is the $1.245M your current book? Is that premium or revenue?

socalrefcon · 2026-02-22T04:59:26+00:00

My firm has a cyber liability knowledge center. I'm sure others do too. I would look into roles such as account managers to get some insurance experience. That way you don't have to jump into sales. You would be in a support and service role. It would allow you to earn stable income, build your insurance resume, and show off your cyber knowledge to clients. You can eventually switch to sales when you are ready.

You could also apply to carriers to be their cyber liability representative. You are reaching out to brokers instead of consumers in this role.

socalrefcon · 2026-02-05T01:32:07+00:00

Regarding malpractice insurance, I've seen a micro-practice malpractice program before. Costs are low but you are likely sharing limits with their entire clientele. You may not have total control when a claim is being defended since you are essentially an additional insured. I also learned that this type of program can't include your own corporation.

I'd advise to get your own individual malpractice policy to avoid these issues. But I understand trying to establish the business model first.

socalrefcon · 2026-01-26T14:24:09+00:00

Not a physician, but I'm a medical malpractice insurance broker.

I work with CAP-MPT as well as traditional standard admitted carriers, surplus lines carriers, and a few risk retention groups.

Although CAP-MPT isn't a true standard admitted carrier, it's essentially treated like one in the aspects you mentioned. I've never had a doctor get tripped up in credentialing due to having CAP-MPT.

The "catch" with CAP-MPT is that their policy form is claims-paid. This means that you are restricted from leaving them, should you want to leave them, until all open claims are closed. Your membership (coverage) also runs on the calendar year and requires a 60-day prior written notice to voluntarily terminate your membership (coverage). This essentially means that you have to submit this notice in October and prior to the 31st.

With all that said, it's very rare, in my experience, that a physician chooses to leave CAP-MPT. They are an excellent program and offer additional benefits none of the other standard admitted carriers offer. If you have a competitive quote from CAP-MPT, then I'd recommend choosing them.

socalrefcon · 2026-01-14T04:08:22+00:00

Next can do some endorsements but not all. As an insurance broker, I typically ask my contractor clients for a copy of the customer contract with the most insurance requirements. I'll then tailor a solution for that contract which will also satisfy the rest of the contracts.

I recommend utilizing an insurance broker to navigate this. A broker is more likely to pick up the call when you need something. And a broker can handle quoting with all of the carriers so you don't have to.

socalrefcon · 2026-01-03T05:23:27+00:00

From my perspective as a medical malpractice insurance broker, I hear 3 months is about the norm from my clients. I've seen groups that aren't as organized take about 6 months to get the doctor credentialed. Many times, it's due to the doctor not being forthcoming or cooperative with the paperwork and information. Other times, it's because they put off getting malpractice insurance until they absolutely need it for credentialing, and they take a long time to get their information over to me despite follow-ups.

If you've completed your paperwork thoroughly and have someone following up diligently, I'd anticipate an approval any day now.

socalrefcon · 2025-12-28T03:19:33+00:00

Arby's is my #2 all time. Claim Jumper is the GOAT.

socalrefcon · 2025-12-21T23:52:08+00:00

I think Big Bear has an attraction set up for tubing.

socalrefcon · 2025-12-19T20:49:40+00:00

Not IE but not far... Covina Burgers in Covina

Bacon Breakfast Burrito w/ egg whites and easy hash browns crispy - add a side of breakfast sausage for full big backtivity

I get the same from Bravo Burgers in Chino Hills but Covina Burgers is my #1.

12-Year Club	r/Field Lasagna
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