Wealth Guard
Wealth Guard is a product designed to provide you with:
• Immediate Asset Protection
• Financial Planning
• Malpractice litigation support
• Lawsuit support
In addition you will also receive license protection and audit protection up to $75,000 in coverage.
WEALTH GUARD IS BACKED BY EXPERIENCE!
A product of the Florida Physician’s Association Legal Defense Insurance Company (FPALDIC), it originates from a legal defense product offered to the members of the Florida Physician’s Association (FPA). Originally Chartered by the Florida Medical Association (FMA).
FPA Legal defense is proud to celebrate 20 years of protecting the legal and financial interest of doctors, the Wealth Guard product is proof of FPA’ s commitment; to adapt and innovate applicable protection to the issues that matter most to its insured.
Wealth Guard is a new legal insurance product that is a must-have for every successful physician. We are passionate about helping doctors secure their assets, defend their professional license and maintain their reputation.Our proven asset protection strategies can help shield your family from financial devastation in the event you are the victim of a medical malpractice suit.
THE THREE COMPONENTS OF WEALTH GUARD ARE:ASSET PROTECTION
The best time to implement an asset protection program is now. By the time you are threatened with a malpractice claim it may be too late. Pre-litigation management and organization of assets is a prudent way to ensure your financial future remains secure.Not only does Wealth Guard provide an asset protection that will show you potential vulnerabilities in your current asset structures but it can also provide a legal, ethical, recommendation on how you can protect your and personal assets you have worked hard to accrue it also includes an asset protection assessment by our team of experts.
LICENSURE THIRD PAYER AUDIT DEFENSE
The centers for Medicare/Medicaid Services have become increasingly aggressive in their efforts to target perceived overpayments for physicians’ services. Recovery Audit Contractors can show up announced at any time to conduct a review. Statistics indicate that in more than 80% of regulatory and licensure defense cases that go to court, the doctor wins, but fewer than 15% of providers actually challenge or appeal cases. With Wealth Guard, you will have a trusted ally by your side to represent your interests and help you stand tall against these threats to your practice, profession, and reputation.
SECOND OPINION REVIEW
Once your malpractice insurer is notified that a malpractice claim has been filed, it is legally out of your hands. Although some states have lobbied to give the doctor more say in their own malpractice case defense, the truth is their request were glad handled at best and the insurance company still retains 100% control over the fate of your cases outcome. Most states grant the insurer authority to choose an attorney for your case and decide whether to settle or fight the claim, leaving you little or absolutely no say in the matter. What is more alarming the insurer is protected against judgments that exceed policy limits, which means the responsibility to pay the excess falls squarely on the physician.Wealth Guard legal experts will review your case and offer an unbiased opinion of your potential exposure based on case law. Unlike the insurance company whose goal is to protect their own interests, Wealth Guard is looking out for you.
WEALTH GUARD IS AFFORDABLE For a fraction of the cost of traditional medical malpractice insurance, Wealth Guard provides an abundance of protection that traditional medical malpractice inadequately covers. Just a small investment into Wealth Guard can yield a plethora of serenity.
Cyber / Audit protection License Defense
Totally backed by LLoyd's of London
Regulatory Licensure Defense
Licensure Defense- FPALDIC will defend its policy holders i n the event that a policy holder is notified of a formal investigation against the policy holder's license by any authorized state agency up to $25,000 dollars per claim/$25,000 aggregate. Additional limits are available for purchase.
OSHA Defense- FPALDIC will defend the policy holder in the event they are notified of a citation by the Occupational Safety and Health Administration (OSHA) for any alleged violation of an OSHA safety standard up to $25,000 dollars per claim/$25,000 aggregate. Additional limits are available for purchase.
Cyber Liability Protection
Cyber Liability Protection- FPALDIC includes coverage for lost revenue as a result of a cyber breach and the resulting customer notification or adverse media attention up to $25,000 per claim aggregate. Additional limits up to $I 0,000,000 are available for purchase.
Network Security- FPALDIC includes coverage for both online and offline information, virus attacks, denial of service, and failure to prevent transmission of malicious code up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Regulatory Defense and Penalties- FPALDIC offers coverage for defense costs and fines/penalties for violations of privacy regulations, including, but not limited to,
HIPPAA, Red Flags, and the new Hi-Tee Act up to $25,000 per claim aggregate. Additional limits up to$10,000,000 are available for purchase.
Privacy Breach Responses Cost- FPALDIC covers the cost of customer notification expenses, customer support and credit monitoring expenses of all reasonable legal, public relations, advertising, IT forensic, call center, credit monitoring and postage expenses incurred by the insured for a privacy breach u p to $25,000 per claim aggregate. Additional limits up to$10,000,000 are available for purchase.
Network Asset Protection- FPALDIC offers coverage for all reasonable and necessary sums required to recover and/or replace data that is compromised, damaged, lost, or corrupted. Coverage also includes business interruption and extra expense coverage for income loss as a result of total or partial interruption of the insured's computer system up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Cyber Extortion- FPALDIC will pay extortion expenses and extortion monies as a direct result of a credible cyber exto11ion threat.
Cyber Terrorism- FPALDIC offers coverage for income loss and interruption expenses as a result of the total or partial interruption and extra of the insured's computer due to a cyber terrorism attack up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Reputation Brand Guard- FPALDIC provides coverage for a loss in profits as a result of negative press or customer notification resulting from a data breach up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Billing Errors
Billing Errors Coverage/Audit Coverage (RAC-Audits)- FPALDJC will cover the defense cost and civil fines and penalties from billing errors from governmental and commercial payor audits and investigations, qui tam plaintiffs (whistle blowers), or voluntary self-disclosure up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Shadow Audits- FPALDJC will pay for the cost of a billing shadow audit under its billings error coverage.
HIPPA Proceedings- FPALDJC will cover the defense cost and civil fines and penalties from HJPPA proceedings up to$ 25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
EMTALA Proceedings- FPALDIC will cover the defense cost and civil fines and penalties from EMTALA proceedings up to $25,000 per claim aggregate. Additional limits up to $l 0,000,000 are available for purchase.
Stark Proceedings - FPALDIC will cover the defense cost and civil fines and penalties from Stark proceedings up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Up to $100,000 legal expense coverage for disciplinary proceedings by a state Medical
Board can be added via endorsement
Wealth Guard is a product designed to provide you with:
• Immediate Asset Protection
• Financial Planning
• Malpractice litigation support
• Lawsuit support
In addition you will also receive license protection and audit protection up to $75,000 in coverage.
WEALTH GUARD IS BACKED BY EXPERIENCE!
A product of the Florida Physician’s Association Legal Defense Insurance Company (FPALDIC), it originates from a legal defense product offered to the members of the Florida Physician’s Association (FPA). Originally Chartered by the Florida Medical Association (FMA).
FPA Legal defense is proud to celebrate 20 years of protecting the legal and financial interest of doctors, the Wealth Guard product is proof of FPA’ s commitment; to adapt and innovate applicable protection to the issues that matter most to its insured.
Wealth Guard is a new legal insurance product that is a must-have for every successful physician. We are passionate about helping doctors secure their assets, defend their professional license and maintain their reputation.Our proven asset protection strategies can help shield your family from financial devastation in the event you are the victim of a medical malpractice suit.
THE THREE COMPONENTS OF WEALTH GUARD ARE:ASSET PROTECTION
The best time to implement an asset protection program is now. By the time you are threatened with a malpractice claim it may be too late. Pre-litigation management and organization of assets is a prudent way to ensure your financial future remains secure.Not only does Wealth Guard provide an asset protection that will show you potential vulnerabilities in your current asset structures but it can also provide a legal, ethical, recommendation on how you can protect your and personal assets you have worked hard to accrue it also includes an asset protection assessment by our team of experts.
LICENSURE THIRD PAYER AUDIT DEFENSE
The centers for Medicare/Medicaid Services have become increasingly aggressive in their efforts to target perceived overpayments for physicians’ services. Recovery Audit Contractors can show up announced at any time to conduct a review. Statistics indicate that in more than 80% of regulatory and licensure defense cases that go to court, the doctor wins, but fewer than 15% of providers actually challenge or appeal cases. With Wealth Guard, you will have a trusted ally by your side to represent your interests and help you stand tall against these threats to your practice, profession, and reputation.
SECOND OPINION REVIEW
Once your malpractice insurer is notified that a malpractice claim has been filed, it is legally out of your hands. Although some states have lobbied to give the doctor more say in their own malpractice case defense, the truth is their request were glad handled at best and the insurance company still retains 100% control over the fate of your cases outcome. Most states grant the insurer authority to choose an attorney for your case and decide whether to settle or fight the claim, leaving you little or absolutely no say in the matter. What is more alarming the insurer is protected against judgments that exceed policy limits, which means the responsibility to pay the excess falls squarely on the physician.Wealth Guard legal experts will review your case and offer an unbiased opinion of your potential exposure based on case law. Unlike the insurance company whose goal is to protect their own interests, Wealth Guard is looking out for you.
WEALTH GUARD IS AFFORDABLE For a fraction of the cost of traditional medical malpractice insurance, Wealth Guard provides an abundance of protection that traditional medical malpractice inadequately covers. Just a small investment into Wealth Guard can yield a plethora of serenity.
Cyber / Audit protection License Defense
Totally backed by LLoyd's of London
Regulatory Licensure Defense
Licensure Defense- FPALDIC will defend its policy holders i n the event that a policy holder is notified of a formal investigation against the policy holder's license by any authorized state agency up to $25,000 dollars per claim/$25,000 aggregate. Additional limits are available for purchase.
OSHA Defense- FPALDIC will defend the policy holder in the event they are notified of a citation by the Occupational Safety and Health Administration (OSHA) for any alleged violation of an OSHA safety standard up to $25,000 dollars per claim/$25,000 aggregate. Additional limits are available for purchase.
Cyber Liability Protection
Cyber Liability Protection- FPALDIC includes coverage for lost revenue as a result of a cyber breach and the resulting customer notification or adverse media attention up to $25,000 per claim aggregate. Additional limits up to $I 0,000,000 are available for purchase.
Network Security- FPALDIC includes coverage for both online and offline information, virus attacks, denial of service, and failure to prevent transmission of malicious code up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Regulatory Defense and Penalties- FPALDIC offers coverage for defense costs and fines/penalties for violations of privacy regulations, including, but not limited to,
HIPPAA, Red Flags, and the new Hi-Tee Act up to $25,000 per claim aggregate. Additional limits up to$10,000,000 are available for purchase.
Privacy Breach Responses Cost- FPALDIC covers the cost of customer notification expenses, customer support and credit monitoring expenses of all reasonable legal, public relations, advertising, IT forensic, call center, credit monitoring and postage expenses incurred by the insured for a privacy breach u p to $25,000 per claim aggregate. Additional limits up to$10,000,000 are available for purchase.
Network Asset Protection- FPALDIC offers coverage for all reasonable and necessary sums required to recover and/or replace data that is compromised, damaged, lost, or corrupted. Coverage also includes business interruption and extra expense coverage for income loss as a result of total or partial interruption of the insured's computer system up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Cyber Extortion- FPALDIC will pay extortion expenses and extortion monies as a direct result of a credible cyber exto11ion threat.
Cyber Terrorism- FPALDIC offers coverage for income loss and interruption expenses as a result of the total or partial interruption and extra of the insured's computer due to a cyber terrorism attack up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Reputation Brand Guard- FPALDIC provides coverage for a loss in profits as a result of negative press or customer notification resulting from a data breach up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Billing Errors
Billing Errors Coverage/Audit Coverage (RAC-Audits)- FPALDJC will cover the defense cost and civil fines and penalties from billing errors from governmental and commercial payor audits and investigations, qui tam plaintiffs (whistle blowers), or voluntary self-disclosure up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Shadow Audits- FPALDJC will pay for the cost of a billing shadow audit under its billings error coverage.
HIPPA Proceedings- FPALDJC will cover the defense cost and civil fines and penalties from HJPPA proceedings up to$ 25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
EMTALA Proceedings- FPALDIC will cover the defense cost and civil fines and penalties from EMTALA proceedings up to $25,000 per claim aggregate. Additional limits up to $l 0,000,000 are available for purchase.
Stark Proceedings - FPALDIC will cover the defense cost and civil fines and penalties from Stark proceedings up to $25,000 per claim aggregate. Additional limits up to $10,000,000 are available for purchase.
Up to $100,000 legal expense coverage for disciplinary proceedings by a state Medical
Board can be added via endorsement