You're a partner
To some companies you're a risk, subject to underwriting rules. With us, you're a partner in need of coverage. That is to say, we believe all physician and surgical specialists, not just the profitable disciplines, need access to quality medical professional liability insurance.
Medical Mutual writes the majority of its insurance coverage on a claims-made basis, which means you will have protection for claims which arise out of covered professional services you provide following your initial effective date (retroactive date) of coverage. So, any claims filed against you today are covered by current policy limits, even though your limits may have been lower at the time of the incident in question.
Consent to settle – it's up to you
Medical Mutual will not settle any claim or suit on your individual policy without your consent, an important feature that clearly protects your interests by giving you ultimate control over whether or not a claim is settled on your behalf.
Medical Mutual's medical professional liability policies for physician practices includes $100,000 of base coverage* to offset the costs associated with responding to patient data breaches per the mandates of the Federal HIPAA and HITECH Acts. These include costs related to:
- Multimedia Liability
- Security & Privacy
- Privacy Regulatory Defense & Penalties
- Privacy Breach Response
- Network Asset Protection
- Cyber Extortion
- Cyber Terrorism
The coverage also includes access to a team of nationally-recognized specialists in IT forensic analysis, network security and, if necessary, data restoration, to assess and manage the technical aspects of the response. In addition, the coverage includes experts in HIPPA/HITECH-related patient notification, public relations, credit monitoring and other response services to help you meet your Federally-mandated obligations. Up to $10 million in additional cyber coverage is available. Ask your agent or Medical Mutual Underwriter for details.
* Excludes Volunteer, Umbrella Excess and Managed Healthcare Liability Policies.
Physician's Administrative Defense Coverage
Physician Administrative Defense (PAD) is a feature of your medical professional liability insurance policy you can take advantage of should you be the subject of a disciplinary proceeding in front of a government licensing board, a hospital board, or any other organization that can curtail, suspend or revoke your ability to practice. Like most carriers, Medical Mutual provides coverage, subject to limits, for legal consultation and defense costs related to administrative disciplinary proceedings. Again, differences arise, however, in how Medical Mutual and other carriers treat such situations.
Group Policy Highlights
Medical Mutual group policies offer the same coverage as individual policies, while offering significant administrative efficiencies and other advantages. With a policy in a group's name, there is a single policy with one set of invoices and one common effective date – as opposed to separate invoices for each physician, arriving at various times because of differing individual effective dates. All providers retain their own retro-active date and their own individual limits, but administration is simpler due to the streamlining of redundant paperwork into a single transaction.
Group difference driven by logic
Because premiums are billed to and paid by the group, return premiums go to the group and not the individual. Group policies cover only claims arising out of professional services which fall under an individual physician's scope of duties as an employee or contractor of the group, though optional coverage for practice outside the group is available.
The most notable difference of a group policy is that the Consent to Settle provision rests with both the physician involved and the practice manager, administrator, or other person identified by the group to act on their behalf. That is, both the physician and the group's designated representative must agree to settle a case on behalf of the physician. This provides the group with an additional source of risk management in identifying key issues while providing the physician with another opinion and support for his or her decision. Other differences do exist. For details, contact your agent or the Medical Mutual Underwriting Department.
Slots, prior acts options for groups
In a medical jobs market that is evermore fluid, with regular turnover in certain employee positions, more and more groups are taking advantage of a Medical Mutual option that allows you to insure a "slot" rather than an individual. This eliminates the need to purchase a tail every time a slotted care provider — be it a physician, nurse or other specialty care provider — moves on. The obligation to purchase a “tail" arises only when you elect to close the slot altogether.
Should you desire coverage over and above the limits of Medical Mutual's standard professional liability insurance policy, we offer an extra layer of coverage in the form of umbrella excess insurance. So you get the higher limit(s) you desire to protect against catastrophic cases and judgments.
If you notify Medical Mutual prior to a planned absence, protection may be available while your practice is covered by another health care provider.
Premium discounts are offered for:
- Loss-Free Experience – you can earn a 1% discount per year of loss-free experience while insured by Medical Mutual; this discount is capped at 15%
- Longevity – you can earn a 1% discount per year of continuous membership with Medical Mutual; this discount is capped at 10%
- Part-Time Practice – health care providers in part-time practice
- New Doctor – residents entering private practice for the first time may be eligible
- Leaves of Absence
- Other Factors which mitigate the risk of loss or facilitate administration.
You cannot be assessed back-charges if prior years' rates are proven to have been inadequate.