Information

FAQs

Frequently Asked Questions Regarding Our Company And Professional Liability Coverage

Helping you get the answers you need to make an informed choice for professional liability coverage is a priority of ours. To make the process as easy as possible, we've listed below those questions we're often asked along with the corresponding answers.

If you have a question that's not addressed in our FAQ list, please email us directly at answers@thephysicianstrust.com and we'll be happy to assist you.

Question: When changing insurance carriers, is it necessary to purchase the “tail”?

If nothing changes but the insurance carrier, the replacing carrier will most likely (subject to underwriting) pick up the previous policy's retroactive date and coverage will continue uninterrupted, as will enrollment in the LA Patient's Compensation Fund. This is known as “prior acts' coverage” and transfers the previous liability exposure for unknown incidents to the new carrier.

Question: When changing insurance carriers, does the insured physician lose credit for the years insured which apply to the free “tail”?

Technically yes, but is almost always a moot point since the physician will continue in practice long enough to again qualify for the “tail” with the replacing carrier. In instances where the physician is close to retiring from medicine, it’s possible to make accommodations so that this does not happen.

Question: Will reported claims be handled the same if the company no longer insures the defendant?

Yes. The attorneys who defend the open claim rarely, if ever, know whether the physician is still insured with that carrier. The carrier is contractually obligated to vigorously defend claims to conclusion, and the attorneys are compensated the same either way. The carrier has the risk for the loss; consequently, it is in their best interest to keep the claim cost as low as possible.

Question: Does The Physicians' Trust offer excess coverage above what’s provided by the Patient’s Compensation Fund?

Additional limits are available through the Physicians' Trust for $1,000,000/$3,000,000 and will be included in our quote. These limits are per physician and are not shared.