Selection of MPL Coverage Forms Available
Claims-Made – Provides protection for covered medical malpractice claims which occur on or after a retroactive date and are reported during the policy period or an extended reporting period, if applicable.
Modified Claims-Made – Offers prepaid tail coverage on a claims-made basis. Protects against covered medical malpractice claims which occur on or after a retroactive date and are reported during the policy period or an extended reporting period, if applicable. Please note that an indefinite reporting period endorsement automatically applies at no additional premium.
Occurrence – Provides protection for covered medical malpractice claims that occur during the policy period.
Primary Policy Limits
The Indiana Patient’s Compensation Fund requires a minimum limit of $250,000 per claim with a $750,000 policy aggregate.
Primary policy limits are available of up to $1,000,000 per claim.
Key Coverage Highlights
Broad Definition of Insured – Shared coverage provided for all non-physician employees, students and volunteers while acting within their scope of duties; separate limits offered for an additional premium.
Medical Corporations – Coverage included for solely owned professional medical corporations.
Consent to Settle – Coverys will not settle a claim or suit without the named insured’s written consent.
Locum Tenens Coverage – Available for temporary absences from professional practice up to a maximum of 90 days during a policy period.
Worldwide Coverage – Coverage applies for suits brought within the United States, its territories and possessions, or Canada.
Vicarious Liability Coverage – Provided for claims arising out of professional acts or omissions by someone for whom the policyholder is legally responsible.
Cyber/Regulatory Liability Coverage – Free coverage for cyber liability including data security breaches and regulatory claims is offered through Coverys Protection Plus. Included within this coverage is the cost for experienced attorneys and legal consultants who specialize in such cases, as well as comprehensive support to mitigate these risks, from beginning to end.
Extended Reporting Period Coverage – Free endorsement for an extended reporting period endorsement (also known as “tail” coverage) is available in the event of death, disability and retirement; for a retirement tail, certain eligibility requirements may apply.
Professional Conduct Review Coverage – Provides reimbursement of up to $25,000 for legal defense costs for licensing board matters and associated investigation activities arising out of professional services rendered to a patient.
Sexual Misconduct Defense Coverage – Provides reimbursement of up to $100,000 for legal expenses required for defense of a suit or licensing board proceeding alleging actual or threatened sexual misconduct of a patient.
Allied Healthcare Providers – Nurse practitioners, physician assistants and other medical employees can be added as insureds with separate limits of liability for an additional premium.
Commercial General Liability Coverage Part – Protects insureds against liability for bodily injury or property damage arising out of an insured’s premises, operations and personal and advertising injury. Additionally, payment of related medical expenses is included regardless of fault as part of this coverage part.
Employee Benefits Liability Coverage Part – Coverage for claims alleging improper advice and other errors or omissions in the administration of the named insured’s employee benefit plans.
Excess Medical Professional and Umbrella Liability Coverage – Additional limits added in excess of primary limits in the event the underlying coverage limit has been exhausted.
Medical Director Endorsement – Coverage extension for medical directorships for identified organizations.