5 things you need when applying for medical malpractice coverage
A list of documents and forms to have ready when working with a new medical malpractice carrier.
5 things you need when applying for medical malpractice coverage
A list of documents and forms to have ready when working with a new medical malpractice carrier.
1. Prior coverage information
When applying with a new medical malpractice carrier, you need to provide a copy of your prior policy’s declarations page. This is the first page of an insurance policy that contains the policyholder's name, address, specialty, limits of liability, premium amount, policy effective date, endorsements, etc.
To prevent gaps in coverage
- Know the exact dates of your prior policies.
- Make sure your retroactive date matches the previous policy.
- Purchase supplemental coverage such as prior acts or tail coverage if you have a claims-made policy. Tail coverage can be purchased from the carrier you’re departing from and prior acts can be purchased from the carrier you’re moving to. You purchase one of these supplemental coverages to prevent a gap, but not both.
2. Claims history
Make sure to have a recent loss run report — this is the official report from your current and previous insurance carriers that details your claims history.
3. Employment history
You will also need an updated copy of your curriculum vitae (CV).
Your CV should include:
- education, training, and work history;
- board certifications; and
- practice locations.
4. Medical license
You will also need your active state license number and its issue date. If you prescribe controlled substances, you will also need to provide DEA registration information.
5. Completed forms
Submit a completed application for coverage, along with any other required forms or questionnaires. If you are applying to TMLT, you must be a member of the Texas Medical Association or have a membership application pending to apply for TMLT coverage.
Need help understanding the vocabulary of medical malpractice insurance? See our Glossary of insurance terms.
Disclaimer
1. Prior coverage information
When applying with a new medical malpractice carrier, you need to provide a copy of your prior policy’s declarations page. This is the first page of an insurance policy that contains the policyholder's name, address, specialty, limits of liability, premium amount, policy effective date, endorsements, etc.
To prevent gaps in coverage
- Know the exact dates of your prior policies.
- Make sure your retroactive date matches the previous policy.
- Purchase supplemental coverage such as prior acts or tail coverage if you have a claims-made policy. Tail coverage can be purchased from the carrier you’re departing from and prior acts can be purchased from the carrier you’re moving to. You purchase one of these supplemental coverages to prevent a gap, but not both.
2. Claims history
Make sure to have a recent loss run report — this is the official report from your current and previous insurance carriers that details your claims history.
3. Employment history
You will also need an updated copy of your curriculum vitae (CV).
Your CV should include:
- education, training, and work history;
- board certifications; and
- practice locations.
4. Medical license
You will also need your active state license number and its issue date. If you prescribe controlled substances, you will also need to provide DEA registration information.
5. Completed forms
Submit a completed application for coverage, along with any other required forms or questionnaires. If you are applying to TMLT, you must be a member of the Texas Medical Association or have a membership application pending to apply for TMLT coverage.
Need help understanding the vocabulary of medical malpractice insurance? See our Glossary of insurance terms.
Disclaimer
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