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Is "going bare" the only way to limit liability exposure to $250,000?

A client recently asked a question that many physicians may be asking:

Q: "Isn't 'going bare' the only way to limit a physician's liability exposure to $250,000? If that's true, it seems that carrying liability insurance not only makes you a target, but also creates additional liability exposure."

A: Going bare' does not limit a 'bare' physician's liability to $250,000. If the amount of a malpractice judgment, for example, is $1,000,000, a 'bare' physician is liable for the entire amount.