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Medical Professional Liability insurance for physicians is not "one size fits all."

There are differences in policies, premiums, and insurance companies. That is why the American College of Physicians (ACP) has partnered with Mercer Consumer to provide a CHOICE insurance model for its members. CHOICE means you can now shop the market in one place to find the policy and carrier that is right for you.

Mercer’s history, experience, relationships with top-name carriers, and reputation in the industry allow us to offer this to specialized program to ACP members. Mercer Consumer and the ACP have collaborated to find three insurance carriers who have expertise in the healthcare industry, and the ability to offer ACP member discounts.

In two simple steps, you can learn more about the options available to you:

  1. Complete a Premium Estimate Form for a premium indication from participating carriers in your state. Working with Mercer’s experts, decide which carrier you want to get a formal quote and complete an application.
  2. Receive bindable quote and place coverage.

To request a no obligation non-bindable quote, complete the short online Premium Estimate Form or call

1-888-643-0323 to speak to a licensed representative.

  MedPro Group Logo

About MedPro

As the nation’s first provider of healthcare liability insurance, MedPro Group has protected the assets and reputations of the healthcare community since 1899. With over $900 million in annual premium and more than 140,000 customers, MedPro Group is the national leader in customized insurance, claims, patient safety and risk solutions for physicians, surgeons, dentists and other healthcare professionals, as well as, hospitals, senior care and other healthcare facilities. MedPro Group includes The Medical Protective Company, Princeton Insurance Company, PLICO, Inc., and MedPro RRG Risk Retention Group. All insurance products are administered by MedPro Group and underwritten by these and other Berkshire Hathaway affiliates, including National Fire & Marine Insurance Company, all of which have earned financial strength ratings of A++ from A.M. Best. Its distribution partners include a nationwide network of licensed agents, brokers and wholesalers. MedPro Group is a Berkshire Hathaway business To learn more about MedPro please review the Provider Fact Sheet.

 


  Coverys Logo

About Coverys

Coverys is a leading medical professional liability insurance provider insuring physicians, dentists, allied medical professionals, hospitals and hospital systems across the U.S. They are dedicated to helping their policyholders and clients anticipate, identify and manage risk to reduce errors, eliminate inefficiency and improve outcomes. Coverys emphasize physician education and patient safety, and is acknowledged as providing innovative risk management services and resolute claim defense to the healthcare community. Coverys has been named to the Ward’s Property Casualty Top 50 Performers for six consecutive years with an A.M. Best Rating of A- (Excellent). Take a moment to review the Provider Fact Sheet available or visit Coverys to learn more.

 


  Norcal Mutual Logo

About Norcal

Since 1975, NORCAL Mutual has been a policyholder-owned and physician-directed medical professional liability company dedicated to ensuring the availability of affordable and relevant coverage. Along with its subsidiary companies PMSLIC Insurance Company and Medicus Insurance Company, NORCAL Mutual is one of the top ten medical professional liability carriers in the nation, based on direct written premium, and holds an “A” (Excellent) rating by A.M. Best for its financial strength and stability. Learn more on our website at norcalmutual.com/mynorcal. You may also review the Provider Fact Sheet available.

 


 

A.M. Best’s Disclaimer

Mercer Consumer, a service of Mercer Health & Benefits Administration LLC, makes no representations or warranties, expressed or implied, concerning the financial condition or solvency of any insurers. A.M. Best’s Ratings are under continuous review and subject to change and/or affirmation. For the latest Best’s Ratings and Best’s Company Reports (which include Best’s Ratings), visit the A.M. Best website at http://www.ambest.com. See Guide to Best’s Ratings for explanation of use and charges. Best’s Ratings reproduced herein appear under license from A.M. Best and do not constitute, either expressly or impliedly, an endorsement of Mercer Consumer or its recommendations, formulas, criteria or comparisons to any other ratings, rating scales or rating organizations which are published or referenced herein. A.M. Best is not responsible for transcription errors made in presenting Best’s Ratings. Best’s Ratings are proprietary and may not be reproduced or distributed without the express written permission of A.M. Best Company.

Information and important questions to ask about the American College of Physicians-sponsored Medical Professional Liability Insurance Program

  • What is their rating by A.M. Best?
  • Is its policy backed by a state guaranty fund (which protects against carrier insolvency)?
  • How long has it been underwriting in your state?
  • How long has it been writing medical malpractice insurance?
They're the same thing--the terms are used interchangeably. Under a claims-made policy, this coverage provides insurance for claims arising from incidents that occurred while a previous claims-made policy or policies were in effect, but were not reported until that policy (or the last in a succession of policies) was terminated. This type of coverage is also often called "nose" coverage too. For instance, if a physician changes practices and purchases a liability policy through their new employer, nose coverage would be needed to cover the physician if a claim is then made for an incident that occurred while he/she was under their previous employer's policy. Since the physician no longer has protection through their old employer's policy, this coverage provides security for the period between the inception date of the new policy and the retroactive date of the old policy.

An occurrence policy provides coverage for an incident that occurs during the term of the policy, regardless of when a claim arising from the incident is made. A claims-made policy provides coverage for claims arising from incidents that occur and are reported to the insurance company while the policy is in force.

Here’s an example to show the differences. “Dr. Van” had a malpractice policy effective from July 1, 2014 to June 30, 2015 and it is an occurrence policy. He doesn’t renew the policy. On September 3, 2015, a claim is filed against him for something that occurred on August 8, 2014. Because the incident occurred during the period in which he was covered by the policy, he was covered for that claim, even though the notice of claim was filed after the policy ended. However, if “Dr. Van” had a claims-made policy, he would not have been covered because the coverage was not active when the notice of claim was reported.

If you currently own a claims-made policy, careful consideration should be made if you are considering canceling or switching coverage providers. If you do decide to end your current claims-made policy, you can purchase "tail" coverage.

Determining which coverage is better for you depends on your personal circumstances. A claims-made policy offers more flexibility and is generally more affordable but could potentially leave you uninsured if you don’t purchase additional coverages. An occurrence policy offers you the advantage of more permanent coverage without having to purchase additional coverages, but it can be more costly.

A stock insurance company is a publicly traded insurance company that is owned by a group of stockholders who do not necessarily hold insurance policies issued by the company. The stockholders are investors who own the company by virtue of owning shares of stock in the company.
 
Mutual and reciprocal insurance companies are owned by their policyholders and have no stockholders. These companies were formed to provide their policyholder-owners with a dependable source of insurance. Profits are used to strengthen the company’s ability to pay claims or are returned to policyholders in the form of dividends.
 
For example,
  • Does the company have access to top defense attorneys?
  • What is its trial win rate?
  • What percentage of claims close without payment?
  • Does it obtain your consent before settling a claim?
Make sure it offers you adequate coverage, including consent to settle and incident triggers, as well as continuous coverage, including tail coverage (so you have no uninsured time periods). Also, make sure you know what happens to your coverage if you should change carriers, opt for part-time work, become disabled, retire, or die.
Risk management education helps you identify, evaluate, and address problems that may injure patients, lead to malpractice claims, and cause financial loss. Ultimately, it helps to prevent a claim or malpractice suit. Some insurance companies have determined it to be a valuable tool in reducing your risk and offer premium credits for completion of qualified risk management courses.
Don't just buy the least expensive option. There are many factors to consider when purchasing coverage (such as those described above), and the cheapest coverage doesn’t usually mean it's the best coverage. Financial stability, not premium price, should be the first consideration when selecting a malpractice carrier because it is essential that the company have sufficient financial resources to pay all current and future claims against policyholders.

These form(s) are in Adobe Acrobat Reader (PDF) format and are available for downloading and printing.

Premium Indication Form

MedPro Group Highlight Sheet

NORCAL Mutual Highlight Sheet

Coverys Highlight Sheet



Download Adobe Acrobat Reader

How can we help?

Please let us know of any questions or concerns you have. We want to make sure you completely understand your coverage through Mercer Consumer and how it can benefit you.

Program Administrator, ACP Medical Professional Liability Insurance Program

Mercer Consumer
PO Box 14438
Des Moines, IA 50306-9803
Customer Service:
Monday through Friday
9:00a.m. to 8:00 p.m. EST Monday-Friday

Phone: 1-888-643-0323
Fax: 515-365-0681
Email: LH.Admin@Mercer.com

Get Estimate

Complete the short online Premium Estimate Form or call
1-888-643-0323 to speak to a licensed representative.

Get Estimate

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