Home > Products and Services > Insurance > Medical Professional Liability FAQ's
Click here for Professional Liability Application
Where does MAG Mutual offer Medical Professional Liability Insurance?
What is the difference between a claims-made and an occurrence policy?
Does MAG Mutual offer an occurrence policy?
What is “tail” coverage?
What is Prior Acts coverage? I am applying for part-time coverage, do I complete the regular or part-time application?
I am a practicing physician, what items do I include with my application?
I am a physician just out of residency, what items should I include with my application?
I have not practiced medicine for a period of time, what items should I include with my application? What do I need to send?
I am adding on to a doctor/group already insured with MAG Mutual. What should I send?
I am applying for part-time coverage, what items should I include with my application?
How long is the application process?
How do I submit the application?
Can I apply too early?
What are the steps in the application process?
When will I get my certificate?
What is a claims history? Where do I get it?
I was previously insured with MAG Mutual. Do I need to get a claims history for that time?
How do I order an NPDB report?
When do I have to pay for the policy?
What types of installment payment plans are available?
Can I pay by credit card? Can I pay electronically?
MAG Mutual offers Professional Liability insurance in Georgia, Alabama, Florida, South Carolina, North Carolina, Tennessee, and Virginia.
Back To The Top
Claims-made policies cover claims when they are reported to the current insurance company while that policy is in effect.
Occurrence policies cover claims when it is alleged to have happened, even if the physician no longer has the policy or uses that insurance company.
Back To The Top
MAG Mutual provides claims-made policies, the industry standard for medical liability insurance.
Back To The Top
An Extended Reporting Endorsement (“tail”) is purchased by a physician when he or she leaves a claims-made policy, in order to still be able to report claims under that policy. “Tail” is purchased from the carrier you are leaving.
Back To The Top
Prior Acts coverage is granted by the insurance company you are going to, in order to cover the previous company’s policy period. It extends coverage back to your retroactive date (the date your first policy began; you can find this on your declarations page). Receiving Prior Acts coverage eliminates the need to buy “tail” coverage. This coverage is subject to approval by MAG Mutual. (Click here for the Prior Acts application)
Back To The Top
Once we receive ALL your application information (see “What do I need to send with my application?”) the process only takes 7-10 business days. June and December are our busiest times of year, and the process does take longer during those times. Please allow adequate time for your application to be processed; we suggest 30 days before your effective date.
Back To The Top
In addition to the completed application, you will need to send the following:
• Copy of your most recent CV (please explain any gaps in employment)
• Declarations page from your current policy
• 6 Years of written claims history OR
• Claims history from your current carrier and an NPDB report
The application process does not start until all documents are received. Including your fax number or e-mail address will help us communicate more easily with you about your application. Please see “Application Help” for answers to specific questions about your application.
Back To The Top
You only need to send a CV with your application.
Back To The Top
If you are returning to the practice of medicine, or have gaps in your work history, please send a written explanation of your activity during that time, along with an NPDB report, claims histories for any employment you have had in the last 6 years, and your CV.
Back To The Top
In addition to the items listed under “What do I need to send with my application,?” please be sure to give us the policy number for the physician/group you are joining on page 7. It doesn’t hurt to include a cover note indicating that you are adding onto an existing policy; this will speed your application getting to the right place.
Back To The Top
A claims history is the record of any claims filed with your insurance carrier, or it will indicate “No Claims.” You can get a claims history directly from your insurance carrier; through your insurance agent; through the credentialing office at your hospital, if you are hospital-based; or through your locum tenens company.
Back To The Top
You do not need to send a claims history for any time you were insured with MAG Mutual. It does help if you indicate on your application that you are a former insured.
Back To The Top
You can order a National Practitioner Data Bank self-query at www.npdb-hipdb.com.
You complete the form and pay, then print the form, have it notarized, and mail it. The response should arrive in 7-10 days.
Back To The Top
Yes, both applications are necessary for a part-time policy.
(Click here for the part-time applications: Part-time/Semi-Retired Physician Application - Georgia, Florida, North Carolina, South Carolina and Part-time/Semi-Retired Physician Application - Alabama, Tennessee, Virginia)
Back To The Top
Sending an application by fax is the best way to submit it (no hard copy is necessary). Please fax to 888-892-5060. If you choose to mail your application, please keep a copy. Applications can be mailed or overnighted to:
MAG Mutual Insurance Company
ATTN: New Sales
8 Piedmont Ctr NE STE 600
Atlanta, GA 30305-1556
Back To The Top
It is our recommendation that you wait if you apply more than 90 days in advance of your effective date, you will be required to complete an application update and provide an updated claims history. Certificates of Insurance cannot be issued more than 90 days ahead of the effective date.
Back To The Top
1)
We review your application packet for completeness, and request any missing information.
2) Underwriting reviews the application, and may ask for additional information. At the end of their review, they will either issue a quote for coverage, or decline the application.
3) The quote is sent to you for approval.
4) You return the signed quote form, authorizing MAG Mutual to issue you a policy.Providing us with a valid fax number or e-mail address makes is easier for us to communicate with you, and speeds up the process.
Back To The Top
Once we have received your signed form accepting the quote from MAG Mutual, you should receive your certificate within 2 days by fax or e-mail. Certificates of Insurance cannot be issued more than 90 days ahead of the effective date.
Back To The Top
10-15 days after you receive your certificate, your policy documents will arrive in the mail, along with your first invoice.
Back To The Top
MAG Mutual offers installment payment options without a service charge to pay your medical professional liability and other insurance premiums. That’s 0% Financing! The new options are available for new or renewing medical professional liability and selected business / practice policies. You can pay 3, 4, or 6 times per year; the 3 pay plan requires 3 payments within 90 days. You can select your payment plan here
Back To The Top
At this time, we are not able to accept credit card payments
.Back To The Top
|
Coverage