Asset Protection 101: More Than Malpractice

Kevin Shrock, MD

Everyone understands the reason for frequent school fire and tornado drills as well as the importance of conducting a life boat drill before the ship even leaves port. Planning ahead for what to do in the event of an emergency can save lives as well as property.

When it comes to asset protection, however, many physicians make only one plan—medical liability coverage—even though other circumstances are more likely to result in significant financial losses. For example, an automobile accident, an injury at home or work, or the break-up of a practice or marriage can result in significant legal costs and the loss of assets.

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