Professional Liability Insurance

Is it time for a second opinion on your Professional Liability Insurance?

Let our experts provide a confidential review of your professional liability insurance program. At Somerset we pride ourselves in offering physicians the most comprehensive customer service available.

Following are a few of the carriers we represent:

• Medical Protective
• ProAssurance Insurance Company
• Professional Solutions Insurance Company
• Star Insurance Company
• Various surplus lines carriers

We have the following types of coverage available:

• Claims-made
• Pre-funded tail
• Occurrence

We can provide coverage for:

• Individual Physicians
• Dentists
• Large Groups
• Multi-specialty Groups
• Surgery Centers
• Nursing Homes
• Emergency Room
• Urgent Care Centers
• Laboratory Exposure
• Diagnostic Centers

Limits available:

• $100,000/$300,000
• $200,000/$600,000
• $300,000/$900,000
• $500,000/$1,000,000
• $1,000,000/$3,000,000

FAQ

What is a claims-made policy?

• A claims-made policy offers protection for claims reported by you during the time the policy is in effect, provided the incident happens after your claims-made retroactive date. If you do not renew your claims-made policy, you may need “tail coverage” to protect you against claims submitted after you last policy has expired or canceled. You may also secure prior acts coverage with your new carrier.

What is prior acts coverage?

• When changing carriers while insured on a claims-made policy you will need to secure prior acts coverage with your new carrier. Prior acts coverage will provide coverage back to the retroactive date that is on your policy.

What is an occurrence policy?

• A policy covering claims that arise out of damage or injury that took place during the policy period, regardless of when the claim is made.

What is tail coverage?

• A designated period of time after a claims-made policy has expired during which a claim may be made and coverage triggered as if the claim had been reported

Does my policy provide automatic coverage for my corporation?

• No. Your corporation must be named on the policy for there to be any coverage. A separate limit is available from most carriers to give your corporation added protection.

What if I have been non-renewed by my current company?

• Yes. We can find coverage if you have been non-renewed.

I have a severe claims history can you find me coverage?

• Yes. We can find you coverage no matter how severe your claims history has been.

Is my physician assistant covered?

• No. Your physician assistant is not automatically covered. We strongly recommend that they have their own policy with a separate set of limits.

Is a part-time policy available? How do I qualify?

• Yes. You must work less than 20 hours per week.

Do you offer risk management discounts?

• Yes. Please call for current program information.

Do you offer claims free discount?

• Yes. Discounts up to 25% may be available if you are claims free. Please call for more information.