Delivering the Highest Standards of Medical Professional Liability Protection

Transcription

1 Delivering the Highest Standards of Medical Professional Liability Protection

2 About ISMIE Mutual It was none other than physicians who founded ISMIE Mutual in 1976 to give their profession the freedom to practice medicine without the fear of medical liability litigation. While our roots are in Illinois, we now offer products in all 50 states. Our broad product offering, one of the largest in the industry, ensures that policyholders needs are always met and that the highest standards of quality, protection, service and value are delivered. We bring a team-based approach to the defense of claims, ensuring physicians confidence and comfort with every step of the process. Our overarching pledge to policyholders is to present a strategic, vigorous defense for every claim. To help ISMIE policyholders manage their practice risk, an extensive catalog of risk management seminars, webinars and online courses are available at no extra charge. Practice assessments and personalized risk management advice are also available. ISMIE offers products that maximize protection and minimize worry. Our policyholders know they can depend on our professional assistance so they can stay focused on the reason they entered the medical profession: to provide the best patient care possible. As medical practice models evolve, ISMIE remains at the forefront of customized coverage for physicians in all practice environments, whether independent or as an employee of a large group or hospital system. Read on for more details, and please don t hesitate to contact us or your broker with any questions or for more information. We are standing by to assist you ISMIE Mutual Insurance Company

3 Table of Contents Coverage Programs, Underwriting Services 4 Comprehensive Coverage Options Customized Coverage Throughout Your Career Value-added Policy Features and Services A Word About ISMIE s Premiums More Policy Benefits and Resources Underwriting Contact Information Claims Services 14 Strong Defense Defendant Reimbursement Coverage Assistance with Investigations Deposition Assistance Physician Support Claims Monitoring Surveys Claims Contact Information Risk Management 18 Risk Management Services and Resources - Education for Physicians - Education for Staff - Practice Assessments - Risk Management Resources - Personalized Risk Management Advice Options to Earn Premium Discounts Risk Management Contact Information Contact Us ISMIE Mutual Insurance Company 3

4 Coverage Programs, Underwriting Services ISMIE Mutual Insurance Company

5 Medical careers can take a number of divergent paths. Whether those lead to a small private practice setting or a large hospital or corporation, ISMIE s professional liability coverage will maximize protection and minimize worry. Here s an overview of our comprehensive coverage options. Physician Professional Liability Coverage ISMIE s flagship insurance policy for physicians and groups comes with an array of superior protections. The policy can be tailored to cover your employed allied health professionals, regardless of practice structure. If you are the sole shareholder of your own medical corporation, coverage for the corporate entity or a doing business as (DBA) name can be provided under your individual professional liability policy at no additional charge. To obtain coverage, you must report the entity/dba to ISMIE Mutual, and the entity/dba must be added by endorsement to your policy. You and your entity/dba share the policy limits of liability. Partnership/Corporation Professional Liability Coverage ISMIE s corporate coverage is geared for individual physicians who wish to purchase a separate corporation policy with separate limits for the sole shareholder entity/dba. This option also protects multi-physician practices organized as a corporation, partnership or other legal entity. For an entity composed of two or more physicians, a separate policy is required if insurance protection is desired for the entity. ISMIE s coverage can follow you if your medical practice model changes from independent to employee ISMIE Mutual Insurance Company 5

6 Comprehensive Coverage Options - continued Customized Coverage Throughout Your Career Clinic Option Professional Liability Coverage This policy option is a coverage alternative for corporations, partnerships or other legal entities, delivering our classic physician professional liability protection while offering significant cost-saving opportunities to groups of two or more physicians, with either a separate or shared limit option. The separate limit option covers each physician as an additional named insured on a single policy form, eliminating the need for multiple bills and statements. If your practice qualifies for the Clinic Option coverage program, depending on its size and historical loss experience, the premium savings may be significant. (Such savings are in addition to the individual physician loss-free discount and risk reward credits earned.) An ISMIE risk manager credit is also available for clinics with a dedicated risk manager. The shared limit option reduces the cost of insuring your entity under our Clinic Option coverage program. With this option: - Your corporate entity shares in the limit of one employed physician when both are named as co-defendants in the same claim. - The premium is reduced to 5 percent of the five highest rated underlying physician premiums. - The entity is provided a separate limit of liability in two limited circumstances advantageous to the corporate entity: 1) when there are independent or direct allegations against the entity; or 2) when there are allegations of vicarious liability for certain departed physicians or other employed staff. We know that new and relevant insurance products are needed to protect physicians and their practices from professional liability risk exposures that occur in the ever-changing medical environment. Should your practice structure change, please contact our expert underwriting staff or your broker to discuss options. ISMIE offers flexible, custom solutions for various situations that may arise during the course of your career. These coverage alternatives apply if you are enrolled in ISMIE s Physician, Clinic Option or Partnership/ Corporation Professional Liability coverage programs. Resident Moonlighting Physician Coverage If you are a resident physician licensed to practice outside your residency program, you may be eligible for a special discounted premium rate. If you moonlight 10 hours or less per week, you may qualify for up to a 72.5 percent reduction from the base premium. If you moonlight between 11 and 21 hours per week, you may receive a 40 percent reduction off your quarterly premium. Newly Practicing Physician Coverage At ISMIE, we know that beginning a practice is often as challenging and costly as it is exciting! We also understand the special needs of the newly practicing physician. To help you get started, we offer reduced rates to physicians who enter a practice for the first time, or who enter a new specialty after completing medical training. Special, discounted rates are available for your first four full years of practice if you are insured with ISMIE from the start of your new practice. Suspended Coverage At some point in your career, you may wish to take a 1-12 month leave from your practice for reasons such as maternity/paternity leave, unexpected illness, extended travel or to complete a fellowship. During the time your policy is on suspended coverage, no coverage is in force for patient care on your part, and your premiums are reduced by 75 percent from the full-time base premium ISMIE Mutual Insurance Company

7 Locum Tenens Coverage If you are thinking about a practice leave or need to shift your schedule for any reason, look into ISMIE s locum tenens coverage. This benefit provides liability protection for a substituting physician when he or she is insured elsewhere or carries insurance that would not cover him or her for the activity being performed as a substitute. Locum tenens coverage is available for up to 90 days within one policy period, except for emergency medicine physicians, who are limited to a maximum of 30 days. There is no charge for the first 30 days. Part-Time Physician Coverage From time off for child rearing to shifting toward retirement, there are many circumstances when a physician might choose to reduce work hours. ISMIE offers reduced rates for physicians who limit their practice time. After demonstrating a part-time practice through number of hours, patient volume, number of days scheduled or activities insured elsewhere, a physician may qualify for a reduction in rates. Individual physicians with average weekly practice time of not more than 21 hours per week may qualify for a 40 percent premium reduction. Free Medical Clinic Coverage We offer special, enhanced coverage to physicians who plan to provide care without compensation in a designated free medical clinic. The coverage is available for a nominal annual premium and includes free tail coverage (reporting endorsement) when the policy is canceled. This special coverage is not necessary if you already maintain an active ISMIE policy. Coverage for Employed Non-Physician Professionals and Allied Health Professionals We also offer coverage under your policy at no cost for certain employed non-physician professionals (such as lab technicians, office nurses, dialysis technicians, orthopedic technicians/nurses, surgical assistants/technologists and social workers). Certain other categories of allied health professionals do require a separate premium charge. Coverage is available on a shared or separate limit basis for: - Certified nurse-midwives - Certified registered nurse anesthetists - Certified clinical nurse specialists - Physician assistants - Certified nurse practitioners - Psychologists Retired Physician Coverage If you are completely retired from practice, you may qualify for special discounts for retired physicians. For example, if you seek coverage only for the occasional treatment of relatives and friends, without compensation, you may be eligible for a significant premium reduction. ISMIE also offers free retirement tail coverage to eligible policyholders (see page 9 for details) ISMIE Mutual Insurance Company 7

8 Customized Coverage Throughout Your Career Value-Added Policy Features and Services ISMIE Will Assist You When Changes to Your Practice Occur Practice changes may affect your policy, and ISMIE is standing by to help you with any transition. Please advise us of your changing needs so we can adjust your coverage. Changes to your practice time or patient volume (full-time, part-time, retired) Changes to an office practice location or contact information (address, phone, fax and ) Additions or deletions to your hospital affiliations The decision to add or drop medical practice activities (such as a nursing home practice, a medical director or advisor position of a medical or day spa, or practice as a hospitalist) Your desire to change your policy limits of liability Changes in practice relationships (partners, shareholders, employees or allied health professionals) The deletion or addition of any procedures to your practice (especially procedures not typically performed by physicians practicing within your trained medical specialty) To ensure adequate coverage, immediately notify ISMIE s Underwriting Division or your broker of changes. Each Physician, Clinic Option and Partnership/ Corporation policy includes additional features that maximize your protection. The following benefits are available to current or former policyholders with active tail coverage. Prior Acts Coverage Also known as nose coverage, prior acts coverage allows physicians who meet certain underwriting criteria to join ISMIE without purchasing a reporting endorsement (tail coverage) from their previous insurer. Prior Acts coverage protects physicians for any patient treatment rendered under a previous policy with another insurer that is reported as a claim or suit after that policy terminates, and is typically less expensive than tail coverage through the previous insurer. Cyber Liability Protection All ISMIE Mutual policies, including new business and renewals, are automatically issued a cyber liability endorsement at no additional cost. Cyber liability protection is a policy feature (subject to a retention/deductible) and covers: Unauthorized disclosure of patient health information and patient identifiers. Notification of affected individuals as well as credit monitoring and call center services. Failure of computer security to prevent a system breach. Computer forensic investigation to determine the cause and extent of the breach. Any regulatory proceeding brought against the policyholder because of an unauthorized disclosure, security breach or failure to disclose such acts in violation of a breach notice law. Income loss and any extra expense as a direct result of the failure of computer systems because of a security breach ISMIE Mutual Insurance Company

9 You re also covered in certain instances for: Claims arising from your medical practice s website media content. Reimbursement for expenses related to crisis management and public relations. Fines and costs incurred under the terms of a credit/debit merchant services agreement. Higher Limits for Cyber Liability Protection Policyholders can increase their cyber liability protection with higher limits. ISMIE Mutual offers flexible pricing options for individual physicians and groups. For more information about these expanded coverage options, go to g Liability Insurance g Expanded Cyber Liability Protection. If you become aware of a breach, remember, time is of the essence when reporting a cyber liability claim. Protection from Medicare/Medicaid Billing Errors ISMIE offers legal expense reimbursement for certain billing error investigations by a government health benefit payer for Medicare and Medicaid. This benefit includes: Reimbursement for reasonable legal expenses from Medicare or Medicaid investigations as defined in the policy. Standard reimbursement up to $30,000 for each named insured, per investigation, with a $1,000 deductible. Free Retirement Tail Coverage A reporting endorsement, commonly known as tail coverage, is available at the termination of your professional liability policy. To be protected under this coverage, the claim or suit must result from professional services rendered on or after the retroactive date, but before the policy termination date. This benefit is available to a retiring physician at any age, as long as he or she has been insured with ISMIE for 10 consecutive years, or has been insured with ISMIE for a minimum of five consecutive years and is at least age 55. Free Defendant Reimbursement Coverage For attending trials and depositions (other than your own), we offer physicians, chiropractors and podiatrists defendant reimbursement coverage at no additional cost, providing $500 per day for up to 15 days for each policy period. Policyholders who separately insure their professional entities can receive defendant reimbursement on behalf of their non-physician employees who, at ISMIE Mutual s request, attend a trial or deposition other than their own. Consent to Settle A policyholder s written consent is prepared before any claim settlement is made on his or her behalf. In addition to physicians, consent has been revised and now chiropractors and podiatrists also enjoy the right to consent to claims on their own behalf. Additionally, when the named insured on the Declarations Page is a professional entity, the person authorized to make changes to the policy on behalf of the insured entity may consent to settle claims on behalf of the entity and all other insureds except for physicians, chiropractors and podiatrists ISMIE Mutual Insurance Company 9

10 Value-Added Policy Features and Services Legal Expense Reimbursement ISMIE offers reimbursement for legal expenses incurred because of a professional licensing board/agency hearing or investigation. A physician, chiropractor or podiatrist may receive a maximum reimbursement of $30,000 for any one proceeding, with a $1,000 deductible during any one policy period. Claims-Made Premium Benefits ISMIE policies are written on a claims-made basis. Claims-made protection is liability insurance that provides coverage for any claim or suit resulting from professional services rendered on or after the first date of your coverage (known as the retroactive date). Under ISMIE s claims-made policy, the claim or suit must occur and be reported during the time your policy is in effect. Coverage ceases with termination of the policy; therefore, any claim or suit reported on or after policy termination is not covered. An inherent advantage of ISMIE s claims-made coverage is that each year a physician pays for protection against claims reported during that year and only that year. In the first year of claims-made coverage, the physician s premium will be lower to reflect the low probability of any claim occurring and being reported. In the second year, the premium will be somewhat higher, taking into consideration claims that occur and are reported in a physician s second year, as well as claims that may have occurred in your first year but are reported in the second year. As a result, premium levels increase each year until a mature level is reached at seven years, at which time premiums tend to stabilize, reflecting the leveling off of the cost and number of claims reported. Limits of Liability Policyholders may choose from several options for professional liability policy coverage limits. The following policy limits are currently available: $1,000,000 each person /$3,000,000 aggregate $2,000,000 each person /$4,000,000 aggregate Additional aggregate limit options apply to the Clinic Option policies based on group size. Each person is defined as the maximum amount payable for all injuries caused by patient care and treatment to any one patient. Aggregate is the total amount of indemnity the policy will pay for all claims or suits reported during the policy period. When determining the level of coverage that is appropriate for your practice, it is critical to take into account the risks of your specialty, the current level of medical liability awards and settlements, patient population served, and hospital and insurance company requirements. Although every physician may not need the highest coverage limits, low limit policies may threaten your personal financial well-being and the defensibility of a claim because it may not be feasible to take a case to trial with low limits. Higher limits available ISMIE can secure higher policy limits for partnerships, medical corporations and clinics/ groups as necessary. In many cases, these types of entities hold greater assets and are at higher risk due to a substantial capital investment in property, medical equipment, laboratory equipment and computers. ISMIE will work with policyholders and our broker partners to customize higher limits on an as-needed basis ISMIE Mutual Insurance Company

11 A Word About ISMIE s Premiums Providing professional liability coverage at the fairest possible premium level is a primary goal at ISMIE. Your premium is determined by the coverage limits you select, the historical risk associated with your specialty, and the geographic location of your practice. Rates are reviewed annually. ISMIE s sound underwriting practices, strong record of aggressive defense of claims, and prudent management of funds help us keep premiums to reasonable levels while ensuring our financial integrity. Loss-Free Discount Physicians of all practice specialties and at all stages in their careers have opportunities for rate discounts with ISMIE. In fact, each year 70 percent or more of ISMIE policyholders qualify for a Loss-Free Discount, based on their exceptional risk management practices. If you have demonstrated a loss-free experience and have been loss-free (meaning you have not incurred a paid loss) for at least three consecutive years, then you are entitled to receive a discount on your premium. Discounts range from 3 percent to 19.5 percent, depending on the number of consecutive loss-free years. Unlike other insurance carriers, which may discontinue such a discount as soon as a claim has been filed, ISMIE does not believe in penalizing its policyholders simply because a claim has occurred. Review of Loss Trends Each year, ISMIE studies loss experience in the aggregate, as well as by specialty and geographic territory. This process leads to the development of ISMIE s overall rates for each program year. Based on substantiated trends over a minimum three-year period, necessary adjustments are made that may result in lower rate levels for certain specialties and territories, or may result in higher premiums. Premium Invoices Your ISMIE policy covers a 12-month period. Premiums are typically billed in quarterly installments. You will receive your quarterly bill 30 days before the payment due date. Policyholders also have the option to pay the entire annual amount at once. We offer the ease and convenience of online premium payments through your secure MyISMIE online account. Although we do not assess finance charges for late payments, premiums must be paid when due to assure uninterrupted coverage. If we do not receive your payment by the due date specified on your invoice, we will send you a warning notice. If we do not receive your payment within 13 days of the warning invoice date, your policy will be canceled as of the cancellation date indicated on the warning invoice. Premium Financing We know costly lump-sum premium payments can be a hardship. To help ease the burden, ISMIE offers a premium financing program through First Insurance Funding Corporation, a solid premium financing enterprise. Each policyholder is secured with a special low interest rate that can be applied to any of ISMIE s policies. The program requires a low initial payment just 8 percent of the total premium and then 11 monthly installments. Protecting your medical practice has never been easier! The Underwriting Division is happy to assist with any questions you may have about your bill. If you utilize a broker, you may also wish to contact him or her to be certain that you are apprised of any additional contingencies regarding payments ISMIE Mutual Insurance Company 11

12 More Policy Benefits and Resources ISMIE s comprehensive professional liability protection pairs sound liability protection with innovative, strategic underwriting services. Our policies feature leading-edge benefits and a competitive rate-setting strategy. With our experienced underwriting team made up of physicians and experienced liability experts, you can be certain that your ISMIE coverage is solid and tailored to your needs. Login Assistance Policyholders have access to a wealth of information and resources at Some of these online features are only available to ISMIE policyholders and, therefore, require a username and password. If you have not yet registered an online account to obtain a username and password and would like to get started, you may: Dividend Distribution Program In 2007, ISMIE introduced a dividend distribution program based on actual, positive financial results as a policyholder benefit. Since then, $213 million has been distributed as of the policy year. The dividends reflect better-than-expected outcomes in past years rather than future obligations, and are not a yearly guarantee. We continue to operate solely to support our policyholders in the delivery of healthcare with no obligation to stockholders seeking profits. The program is simply the result of such a successful partnership with policyholders over the years. While competitors seek short-term financial gains by luring policyholders through unsustainable pricing, ISMIE remains financially strong. We offer policyholders the stability no other carrier can deliver. Call during business hours (8:30 a.m. to 4:45 p.m., Monday-Friday) to speak with an ISMIE Mutual representative. If calling outside of regular business hours, you may leave a message for our representatives. All requests will be processed within one business day. Send an to onlinehelp@ismie.com. Visit and select register under MyISMIE Account ISMIE Mutual Insurance Company

13 Access Your Personal Policy Information Online You can find your secure policy information online in one convenient place with ISMIE Mutual s MyISMIE, available 24/7 at MyISMIE gives you immediate access to: Policy summary a general overview of your policy. Billing summary a history of your past payments. MyRewards your up-to-date Risk Rewards statement, including courses completed and credits earned. Loss history a summary of claims reported over the most recent 10-year period and a summary of all claims reported for as long as you have been insured with ISMIE Mutual. On-demand availability of policy documents your declarations page, endorsements, invoice, and copies of your certificates of insurance. You can log in to MyISMIE at any time with your username and password. Go Paperless With Your Policy Documents Policyholders now have the option to go paperless with important ISMIE policy documents. Here s how: Log into MyISMIE Click on Policyholder Info Click on Document Preferences From there, individual policyholders may switch their preferred method of receiving ISMIE policy documents to a paperless option. Note that clinic-insured physicians must have the practice administrator or person who has access to the clinic s username and password make this change on behalf of the entire clinic policy. Policyholders who continue to receive paper copies in the mail may also access important ISMIE policy documents online ISMIE Mutual Insurance Company 13

14 Claims Services ISMIE Mutual Insurance Company

15 Most physicians accept professional liability insurance as a necessary part of the business of practicing medicine in a litigious society. However, most pay their premiums hoping that they never need coverage. As difficult as it may be to think about claims coverage, there may be a time when you must rely on the experience, financial integrity and commitment of ISMIE. We understand that the real test of a medical liability insurer is how the company reacts when you or your practice face a lawsuit. You want favorable results. At ISMIE, our industryleading approach to claims services will address your concerns and help you navigate the process. ISMIE understands that a medical liability claim is an affront to your reputation and stressful for you. We will work diligently to defend your skills, your integrity and your good name ISMIE Mutual Insurance Company 15

16 Strong Defense ISMIE believes that the best way to discourage unfounded liability claims is through vigorous and steadfast defense. We will not settle a frivolous claim or lawsuit simply to avoid the cost of litigation. Moreover, you will have input throughout the claims process. Your ISMIE policy affords you the control over the right to defend your claim. ISMIE brings a team-based approach to the defense of claims, drawing on the resources of our professional liability analysts, experienced defense attorneys, Physician Review Committee (PRC), and you, our policyholder, to work together for the best possible outcome. Professional Liability Analyst Your ISMIE analyst will explain the process, gather information to provide a thorough investigation and coordinate your case. Every ISMIE professional liability analyst possesses the industry s highest in-depth knowledge and experience. Defense Attorney Representation ISMIE will work with you to determine which defense attorney is well suited for your specific case. We understand that litigation is very personal, and our aim is to make you as comfortable and confident in your defense as possible. Our experienced panel of defense attorneys has been selected for their expertise in defending medical liability litigation. Defendant Reimbursement Coverage Active participation is essential to an aggressive, successful defense. Although it may be frustrating, difficult and time-consuming, your defense team is strongest with you as an essential team member. While your attendance at depositions and trial is a crucial part of a successful defense, we realize it comes with expenses. That is why we offer a policy feature to provide you $500 per day for expenses incurred due to your attendance at depositions (other than your own) and trials, up to $7,500 per policy year. Assistance with Investigations In addition to claims or lawsuits, ISMIE stands beside you in other circumstances when legal representation may be necessary. We examine investigation claims to provide guidance and to determine whether a matter should be managed on behalf of our policyholder sooner rather than later. Investigation claims may include record requests from an attorney or law firm, or have to do with an adverse or unsatisfied patient outcome, a non-compliant patient, a medical record release issue or another scenario that might be of concern to you. Reports of incidents or investigations when no formal claim has been made are not taken into consideration in your underwriting profile. Physician Review Committee (PRC) The PRC, as a peer review committee, brings hands-on physician involvement to the review of claims. PRC is made up exclusively of physician policyholders who review cases against ISMIE policyholders. PRC reviews claims and lawsuits and recommends whether the case should be defended or settled based on the medicine. In this manner, physician colleagues are intimately involved in the decision making process. This is another unique aspect of ISMIE ISMIE Mutual Insurance Company

17 Deposition Assistance We will provide you with an attorney if you are subpoenaed to provide testimony in legal matters involving a patient that you treated, even if you are not involved in the underlying lawsuit or court action, as long as you are a current policyholder. Physician Support At ISMIE, we recognize that being involved in a claim affects your practice and your home life. Since stress and anxiety can distract you from practicing medicine, we offer services to help along the way. ISMIE provides access to additional resources for physicians seeking information on ways to cope with the stress of litigation at Claims Monitoring Surveys Our goal is to continuously improve service to our policyholders. Toward this effort, we have developed a watchful eye through claims monitoring surveys. Over the course of the claim, you will receive three Claims Monitoring Surveys to help us gauge our effectiveness and find ways to improve our performance. A fourth survey will be sent to you one year after the claim closes to afford you an opportunity to reflect on your experience and provide us with suggestions on ways to improve our claims process. Based upon ongoing results of our Claims Monitoring Surveys, we are doing a pretty great job: Out of a possible high score of 10, ISMIE policyholders consistently rate their overall claims services satisfaction above ISMIE Mutual Insurance Company 17

18 Risk Management ISMIE Mutual Insurance Company

19 From assessing your practice risk and offering education for you and your staff, to online resources and our risk management helpline, ISMIE Mutual has a robust stable of tools to help reduce your practice risk. Our award-winning risk management services are designed specifically to help our physician policyholders: Improve the safety and quality of care; Reduce practice-related professional liability exposures; and Optimize defensibility when a claim is brought against them ISMIE Mutual Insurance Company 19

20 Education for Policyholders ISMIE offers an extensive catalog of risk management seminars, webinars and online courses to help manage risk. All activities are at no additional cost, as they are provided as a benefit of being an ISMIE policyholder. Successful completion may earn you premium discounts and AMA-PRA Category 1 Credits. Education for Staff Our policyholders office staff may participate in seminars and webinars to learn how to help manage the risks that exist in everyday practice. All office staff activities are also free of charge. Practice Assessments ISMIE Mutual conducts complimentary on-site risk assessments of clinician practices, offering customized help and advice on how to mitigate risk and improve patient safety and quality of care. Practice assessments are offered to office-based physicians. Those found to be in substantial compliance with ISMIE s risk management principles earn a 5 percent premium discount for two policy years. Risk Management Resources Our extensive online resource library covers topics including termination of care, medical record retention, handling patient complaints, medical legal issues, employee-related concerns and electronic records. We also offer numerous sample forms, letters and policies. Personalized Risk Management Advice Risk management advice is available to policyholders and their staff. Contact our Risk Management helpline at , ext. 3300, or send an to riskmanagement@ismie.com ISMIE Mutual Insurance Company

21 Risk Management Services and Resources Options to Earn Premium Discounts Through our highly successful Managing Risk Partnership Program, policyholders have the opportunity to earn up to a 15 percent premium discount by completing risk management activities. Here s how it works: Option 1: 15 percent premium discount for two policy years To earn this discount, policyholders must complete: ISMIE s Fellowship Program. Policyholders are to complete four specific risk management courses online, taking approximately four hours. Upon successful completion, policyholders will earn a 10 percent discount for two policy years and AMA-PRA Category 1 Credits. On-site practice assessment. An ISMIE Mutual risk management specialist will visit your practice to provide an independent evaluation of your medical liability risk. The assessment takes approximately two hours per policyholder to complete; those found to be in substantial compliance with ISMIE s risk management principles earn a 5 percent premium discount for two policy years. Option 2: 10 percent premium discount for two policy years To earn this discount, policyholders must complete: ISMIE s Fellowship Program. Policyholders are to complete four specific risk management courses online, taking approximately four hours. Upon successful completion, policyholders will earn a 10 percent discount for two policy years and AMA-PRA Category 1 Credits. Option 3: Earn a premium discount up to 10 percent annually To earn this discount, policyholders may complete any combination of activities from our course catalog. Each course completed earns a 1 percent premium discount, as well as AMA-PRA Category 1 Credits. Activities include: Online coursework Live seminars Webinars ISMIE has found that policyholders who participate in our Managing Risk program experience fewer claims and end up paying less when they are involved in claims than those who do not participate ISMIE Mutual Insurance Company 21

22 Contact Us ISMIE is standing by to assist our current and prospective policyholders. Please contact us; we welcome your inquiry. ISMIE Mutual Insurance Company 20 North Michigan Avenue, Suite 700 Chicago, Illinois ph fax ISMIE Mutual Insurance Company (Springfield Office) 600 South 2nd Street Springfield, Illinois ph fax Underwriting Contact Information For assistance with or questions about: Applications and procedures MyPolicy Physician Review and Evaluation Panel (PREP) Premium financing Rates, billing, coverage, policy cancellations, suspended coverage or locum tenens Contact ISMIE s Underwriting Division at: underwriting@ismie.com Phone: , ext Fax: Please visit our Contracted Brokers web page at: Click on Liability Insurance on the top tool bar g Underwriting Services g Contracted Brokers ISMIE Mutual Insurance Company

23 Claims Services Contact Information For assistance with or questions about: Claims monitoring surveys Defendant reimbursement coverage Federal and state reporting Legal concerns Litigation support Physician Review Committee (PRC) Policy definitions and types of claims Reporting of incidents, claims or lawsuits Contact ISMIE s Claims Division at: Risk Management Contact Information For assistance with or questions about: Risk management services and resources Education for policyholders and their staff On-site practice assessments Managing Risk Partnership Program MyRewards Contact ISMIE s Risk Management Division at: riskmanagement@ismie.com Phone: , ext Fax: to report a claim: claimreports@ismie.com for questions: claims@ismie.com Phone: , ext Fax: This brochure is provided solely as an educational resource. It is not intended to establish a contract of insurance or in any way represent a standard of conduct. It is not legal advice and should not be construed as such. The brochure should not be used as a substitute for consulting your broker or an experienced attorney.

24 R Delivering the Highest Standards of Medical Professional Liability Protection