Policies and Coverage
What type of policies are written?
REI Protect program policies are underwritten by the ProAssurance Company through Riosca Insurance Solutions with various limits of liability on a claims made basis.
The claims made policy provides coverage for claims made against members arising out of the performance of professional services rendered, or that should have been rendered, by the insured during a coverage period specified in the policy. Claims asserted against an insured are only covered when they relate to an incident that takes place during the term when the policyholder is covered by the ProAssurance Company and only if such claim is reported to the ProAssurance Company during the period of coverage.
Is an extended reporting period or tail coverage be offered?
Yes, an extended reporting endorsement is available.
Is prior acts coverage or nose coverage available?
Yes, prior-acts coverage is available.
Are there mandatory deductibles?
No. There are no mandatory deductibles.
What limits are available?
A standard individual liability limit of $1 million per claim and $3 million aggregate is offered. Other and additional limits are available.
Does the policy include additional coverages?
Yes. In today’s changing healthcare environment, it’s important to have protection from emerging exposures, including cyberattacks, data breaches, HIPAA violations, and hospital and medical board reviews. These coverages are included in your policy at no additional charge. Increased limits on these additional coverages are often available.
How are new physicians in a group added?
New practitioners can be added once the physician has submitted an individual physician application which has been approved by the underwriting team. Insured's are encouraged to adopt REI Protect standards for training and practice history into their criteria for recruiting.