August 10, 2012
4:33:00 PMPMOftentimes, we receive phone calls from agents who mistake medical professional liability coverage for medical malpractice, when it is not. The medical professional liability coverage is for products/services rendered in the medical realm (as opposed to actual hands-on healthcare).
Stuckey & Company has a Medical Risk program where we can write such risks as: Laboratories, X-Ray / Imaging facilities, Dialysis Centers, Clinics, nurse / staffing registries, substance abuse rehab centers, mental health counseling, pharmacies, medical schools, etc…
This product is unique because unlike many of the other professional liability products, we can include the GENERAL liability along with the professional side on many classes. The professional liability is still on a claims-made policy form, where the GL portion is on an occurrence form. We also may be able to include non-owned automatable coverage.
Primary Coverage policy minimum premium is $2,500.
Generally, we go up to $1,000,000 per claim and $3,000,000 aggregate for primary coverage; however, separate limits may be available for additional premium (up to $10,000,000 per claim and aggregate for excess coverage)**.
Restricted classes or industries: Blood, tissue or organ banks, medi-spas, transplant agencies, abortion clinics, birthing centers, medical transportation operations.
Key competitive advantages: ACE paper (rated A+ (Superior) by A.M. Best and A+ (Strong) by S&P ), competitive coverage terms and services, experienced underwriting staff which specializes in the healthcare industry, “admitted” carrier available for selected accounts.
Submission Requirements: ACE MEDICAL RISK COMPLETED AND SIGNED APPLICATION (click here), 5 YEARS COMPANY LOSS RUNS, SAMPLE EMPLOYMENT APPLICATION, IF BUSINESS IS LESS THAN 5 years old, PLEASE INCLUDE THE RESUME OF THE ADMINISTRATOR. If seeking the GL coverage, please ALSO INCLUDE THE STANDARD ACORD APPLICATIONS.
**Note this is NOT available for all risks.
