Insurance Program Results
Physicians: Claims Decline Again
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Crittenden Insight |
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Physician Policyholder Dividends to Be Paid in 2016
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Carrier/Group |
Dollar Amount |
Distribution |
Notes |
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The Doctors Co. |
$32 million |
On or after July 1 with annual |
Available to eligible insureds in 16 states. Members of the American College of Surgeons, American Academy of Otolaryngology – Head and Neck Surgery, American Association of Neurological Surgeons and American Society of Plastic Surgeons may also qualify. |
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Mutual Insurance Co. of Arizona |
$27 million |
February 2016 |
Eleventh consecutive dividend and paid to qualified members as of Dec. 31, 2015. |
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MagMutual Insurance Co. |
$25 million |
June 1, 2016 |
This highest dividend to date will be passed out as a credit to policyholders of record April 1. |
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State Volunteer Mutual |
$7 million |
Policy renewals during 2016 |
To be credited upon renewal. Carrier has issued dividends for 32 years out of its 40 year history. |
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Medical Mutual Insurance Co. |
$3 million |
Policy renewals during 2016 |
This makes the ninth dividend declared within the last 10 years. Qualified policyholders must have had an active policy in force Dec. 31, 2014 that is still in force as of April 1, 2016. Dividends will be paid as premium credits. |
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LAMMICO |
$2.6 million |
During Q1 2016 |
Company’s loss experience on prior years was more favorable than original estimations resulting in a reduction to reserves. |
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Medical Liability Mutual |
20% |
July 2016 |
Available to policyholders insured as of May 1, 2016 and maintain continuous coverage through July 1, 2016. |
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CMIC |
12.5% |
Applied to |
Applied after all other credits including loss experience credits and loss prevention education credits are |
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Source: Crittenden Research Inc.™ |
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For the complete story, please call (800) 421-3483
Clinic Option Professional Liability (Physicians)
Administered By: ISMIE Mutual
Distribution: Direct/Broker
| Industries: |
Allied Health, OB/GYN, Physicians |
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Carriers: ISMIE Mutual Insurance Co.
Coverage: Professional Liability
Limits: $500,000/$1,500,000 - $2,000,000/$4,000,000
Partnership/Corporation Professional Liability
Administered By: ISMIE Mutual
Distribution: Direct/Broker
| Industries: |
Allied Health, Physician Groups, Physicians |
|---|
Carriers: ISMIE Mutual Insurance Co.
Coverage: Professional Liability
Limits: $500,000/$1,500,000 - $2,000,000/$4,000,000
Physician Professional Liability
Administered By: ISMIE Mutual
Distribution: Direct/Broker
| Industries: |
Allied Health, Physician Groups, Physicians |
|---|
Carriers: ISMIE Mutual Insurance Co.
Coverage: General Liability, Medical Malpractice, Professional Liability
Limits: $500,000/$1,500,000 - $2,000,000/$4,000,000
Beazley Breach Response Select
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Accountable Care Organizations (ACOs), Acupuncturist, Allied Health, Art Galleries/Fine Art/Museums/Antique Dealers, Assisted Living Facilities, Chiropractors, Civic Clubs (Nonprofit), Colleges & Universities, Continuing Care Retirement Communities (CCRCs), Day Spas, Dentists, Education & Nonprofit, Emergency Response Services (Ambulance), Gastroenterologist, Health Maintenance Organization (HMO), Healthcare Systems, Hospice, Hospitality (Hotels/Motels), Hospitals, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Independent Living Facilities, Laboratories, Lawyers, Long-Term Care Facilities (LTC), Managed Care Organizations, Massage Therapy/Therapists, Mental Health/Behavioral (Counseling/Counselors), Midwives, Non Emergency Transportation (Medical), Nurse/Staffing Registries, Nursing Homes/Skilled Nursing Facilities, Opticians, Pharmacies, Pharmacists, Physicians, Podiatrists, Private/Charter Schools, Psychiatric Facilities/Hospitals, Psychologists, Rehabilitation Facilities, Research/Research Organizations (Clinical, Etc.), Retail, Schools, Schools (Adult Education), Substance Abuse Rehabilitation Facilities & Services, Surgeons, Therapy/Therapists, Weight Loss Clinics |
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Carriers: Beazley Insurance Co. Inc.
Coverage: Cyber Liability, Excess, Umbrella/Excess
Limits: up to $5 million
Business Owners Policy (Physicians)
Administered By: MagMutual Insurance
Distribution: Carrier Direct
| Industries: |
Physicians |
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Carriers: MAG Mutual Insurance Co.
Coverage: Business Owners Policy (BOP), General Liability, Property
Limits: Limits - vary.
Commercial Umbrella Insurance (Physicians)
Administered By: MagMutual Insurance
Distribution: Carrier Direct
| Industries: |
Physicians |
|---|
Carriers: MAG Mutual Insurance Co.
Coverage: Excess, Umbrella/Excess
Limits: Limits - vary.
Employment Practices Liability Insurance (Physicians)
Administered By: MagMutual Insurance
Distribution: Carrier Direct
| Industries: |
Physicians |
|---|
Carriers: MAG Mutual Insurance Co.
Coverage: Employment Practices Liability (EPL)
Limits: Limits - vary.
Healthcare-Regulatory Liability
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Billing (Government), Hospitals, Long-Term Care Facilities (LTC), Physicians |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: Errors & Omissions (E&O), Regulatory Claims, Regulatory Liability
Limits: up to $20 million
Medical Professional Liability Insurance (Physicians)
Administered By: MagMutual Insurance
Distribution: Carrier Direct
| Industries: |
Anesthesiologists, Midwives, Nurse Practitioners, OB/GYN, Physician Assistants, Physicians, Podiatrists, Surgeons |
|---|
Carriers: MAG Mutual Insurance Co.
Coverage: Professional Liability
Limits: up to $3 million/$5 million
Regulatory Liability (Healthcare)
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Hospitals, Long-Term Care Facilities (LTC), Municipalities/Government Bodies, Physicians |
|---|
Carriers: Beazley Insurance Co. Inc.
Coverage: E&O, Excess, Umbrella/Excess
Limits: Up to - $10 Million
Stand-Alone Tail
Administered By: Western Summit
Distribution: Program Administrator
| Industries: |
Extended Reporting Period/Tail (Standalone), Physician Groups, Physicians |
|---|
Carriers: Liberty International Underwriters
Coverage: Extended Reporting Period/Tail
Limits:
Workers' Compensation Insurance (Physicians)
Administered By: MagMutual Insurance
Distribution: Carrier Direct
| Industries: |
Physicians, Workers Compensation |
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Carriers: MAG Mutual Insurance Co.
Coverage: Workers' Compensation
Limits: Limits - vary.
Cosmetic & Therapeutic Laser/IPL Services
Administered By: PPIB
Distribution: MGU
| Industries: |
Cosmetic Surgeons/Aesthetic Professionals, Medispas, Nurses, Physicians |
|---|
Carriers: Lloyd's of London
Coverage: Professional Liability
Limits:
Groups (Medical)
Administered By: Coverys
Distribution: Carrier Direct
| Industries: |
Physician Groups, Physicians, Surgeons |
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Carriers: MHA Insurance Co.
Coverage: Cyber Liability, Excess, Professional Liability, Risk Management, Umbrella/Excess, Workers' Compensation
Limits: $100,000 - $2,000,000 (Per Medical Incident.)
Healthcare Providers (NY)
Administered By: Coverys
Distribution: Carrier Direct
| Industries: |
Allied Health, Dentists, Physicians |
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Carriers: Coverys, Coverys RRG Inc.
Coverage: Excess, Professional Liability, Umbrella/Excess
Limits:
Physicians & Surgeons
Administered By: Coverys
Distribution: Carrier Direct
| Industries: |
OB/GYN, Physicians, Surgeons |
|---|
Carriers: Coverys, Medical Professional Mutual Insurance Co.
Coverage: Cyber Liability, Excess, Professional Liability, Risk Management, Umbrella/Excess
Limits: up to $3,000,000 (Primary Per Occurrence)
Group Policy (Physicians)
Administered By: NORCAL Group
Distribution: Direct/Broker
| Industries: |
Bariatric Surgery, OB/GYN, Physician Groups, Physicians, Surgeons |
|---|
Carriers: NORCAL Mutual Insurance Co.
Coverage: General Liability, Medical Malpractice, Professional Liability
Limits: up to $2 million/$10 million (For Entity/Organization), $500,000/$1 million - $3 million/$5 million
Physicians & Surgeons
Administered By: NORCAL Group
Distribution: Direct/Broker
| Industries: |
Anesthesiologists, Bariatric Surgery, Midwives, Nurse Practitioners, OB/GYN, Physicians, Podiatrists, Surgeons |
|---|
Carriers: NORCAL Mutual Insurance Co.
Coverage: General Liability, Medical Malpractice, Professional Liability
Limits: up to $3 million/$5 million
Standalone Tail
Administered By: NORCAL Group
Distribution: Direct/Broker
| Industries: |
Extended Reporting Period/Tail (Standalone), Physician Groups, Physicians |
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Carriers: PMSLIC Insurance Co.
Coverage: Extended Reporting Period/Tail
Limits:
Healthcare Professional Liability
Administered By: ProAssurance Corp.
Distribution: Direct/Broker
| Industries: |
Physician Groups, Physicians, Surgeons |
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Carriers: ProAssurance Group
Coverage: Professional Liability
Limits: up to $16 Million +