MPL Coverage Form Available
Occurrence – Provides protection for covered medical professional liability insurance claims that occur during the policy period.
Primary Policy Limits
Primary policy limits are offered of up to $200,000,000 per claim with a $600,000,000 policy aggregate. Note: participation in the New Mexico Patient’s Compensation Fund is mandatory.
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, where approved.
Locum Tenens Coverage – Available for temporary absences from professional practice up to a maximum of 45 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.
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.
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.