Physicians and surgeons who have a Claims-made medical malpractice insurance policy with MLMIC may be eligible for Free tail coverage. Here are some of the eligibility criteria:
- In the event of the insured’s death, or permanent and total disability
- Permanent and total retirement from the practice of medicine after he/she attains the age of 65 or older and has been insured on a claims made basis by an authorized insurer for 5 or more consecutive years
- Permanent and total retirement from practice after an insured attains the age of 55 or older, and has been insured on a claims made basis by an authorized insurer for 10 or more consecutive years; or,
- Regardless of age, the insured retires and has maintained claims made coverage with an authorized insurer for at least 10 consecutive years, provided the last 5 consecutive years were through MLMIC.
Tail Coverage, or Extended Reporting Period (ERP) rules may differ between NY standard market carriers (such as MLMIC & PRI) and Risk Retention Groups. If you care contemplating a change to your current medical malpractice coverage, or exploring malpractice insurance coverage for the first time, call PriMed Consulting. PriMed Consulting is an independent medical professional liability agency serving NY & NJ.
Phone: 800.528.3758. Email: info@primedconsulting.com www.primedconsulting.com
802 West Park Avenue, Bldg. 3, Suite 302, Ocean, NJ 07712
Source: MLMIC Website
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