MDAdvantage offers medical professional liability coverage under a Claims-Made Policy or a Permanent Protection Policy (PPP).
As the marketplace changes in New Jersey, there has been an ever-increasing interest in the Claims-Made Policy. MDAdvantage has been proactive in educating our policyholders and prospective policyholders on this type of policy so that they can make a fully informed decision.
If after reading our "Facts About Claims-Made Coverage" you would like to discuss the policy in more detail or make cost comparisons with other policies, please contact your broker or MDAdvantage's Policyholder Services Department at 888-355-5551.
Permanent Protection Policy
Our Permanent Protection Policy is a claims-made policy with a pre-paid Extended Reporting Period (Tail). Premium payments made each year include an amount that is allocated for tail coverage. Because a tail component is included in each premium payment the tail is automatically provided at no additional cost at the time coverage is discontinued.
Coverage on our Permanent Protection Policy works in this way:
- The retroactive date provided is the date that new coverage incepts with MDAdvantage.
- The policy covers claims arising from medical treatments that occur between the retroactive date and the end of the policy period.
- The claim is covered on the policy that is in-force when the claim is reported to the company.
- If the MDAdvantage policy is no longer in-force when a claim is reported, the claim is covered under the tail limits provided at the end of the policy coverage.
- At the termination of coverage tail limits are automatically provided.
Please contact our Policyholder Services Department at 888-355-5551 should you require further information.