FPIC offers coverage for physicians in South Carolina. For additional information regarding coverage, contact an FPIC agent representative or the Underwriting Department at (800) 741-3742, ext. 3218.

Physicians

Products

Medical Professional Liability

Offering protection against allegations of malpractice, coverage is provided in the form of a claims-made policy or occurrence policy. Service as a member of a formal hospital or professional society board or committee is covered. The policy also covers certain employees for damages resulting from a medical incident.

Investigation Defense Coverage

Includes legal defense coverage - at no additional charge - for covered proceedings instituted against an insured before a regulatory or administrative body arising out of your professional practice while insured under the policy. This coverage also includes legal defense protection against actions from state and federal organizations, such as OSHA and EEOC. Coverage for allegations of Medicare and Medicaid fraud and abuse is subject to a $1,000 deductible. Limits of $25,000 per incident and $75,000 annual aggregate apply.

Employee Coverage

Employees other than physicians or physician extenders (defined as physician assistants, nurse practitioners, nurse anesthetists or nurse midwives) are covered on a shared limit basis for the providing or failure to provide professional services, at no additional charge. Physician extenders can be covered, if approved by our Underwriting Department, on a shared limit basis on a solo policy. An additional premium may be charged. Physician extenders scheduled on a clinic (i.e., group) policy are eligible for separate limits of liability.

Vicarious Liability

On a shared limit basis, your policy covers the vicarious liability that you are legally responsible for due to the actions of your employees, and the vicarious liability that the partnership, corporation, or professional association is legally responsible for due to your actions.

Additional Policy Features

Claims-Made vs. Occurrence Policies

First Professionals provides professional liability insurance in the form of a claims-made policy. Under this policy, you are protected for claims/incidents that meet three conditions: (1) They must be an exposure covered by the policy; (2) covered they must be reported while the coverage is still in force; and (3) occur subsequent to the retroactive date shown on your policy.

An occurrence policy provides coverage for claims which occur during the policy period regardless of when the claim was made. For policies issued with the same effective date and retroactive date, our claims-made policy involves a five-year, stair step approach. The first year, the premium is lower, with progressively increasing premiums up to year five to compensate for the longer reporting period. At the fifth year, the liability risk is considered mature, and premiums remain level except for company-wide increases or decreases.

Prior acts coverage is available (subject to underwriting approval) when transferring from another claims-made policy. With this option, you do not have to purchase costly tail coverage from your prior insurance company.

Nonassessable vs. Assessable

Assessable insurance carriers reserve the right to charge or "assess" policyholders an additional premium in the event the carrier's losses exceed premium income. At First Professionals, your financial obligation begins and ends with your yearly premium - you will never have an assessed fee.

New Doctor Discount

Qualifying professionals receive a 65% discount on first-year policy premiums, a 30% discount on second-year rates, and 15% on third-year rates. Those completing a military or public service obligation as remuneration for medical school tuition are also eligible for this discount.

Part-Time Discount

Discounts up to 50% are available for those providers who meet the following qualifications: Practice does not exceed 1,000 hours per year, part-time status must be permanent or of long-term duration, and annual verification is required.

Loss-Free Discounts

Loss-free discounts range from 10%-25% and are based on the number of years without a claim in excess of $50,000 or an indemnity reserve of $100,000 or more.

Reporting Endorsement (Tail) Coverage

If an insured cancels for any reason, First Professionals will provide an offer for an extended reporting period endorsement (often referred to as “tail coverage”). This endorsement provides coverage for claims that are made after the First Professionals policy expires, but arose from a qualifying medical incident that occurred while the policy was in force.

Locum Tenens

Coverage may be added to your policy at no additional charge, with a shared policy limit. This option is available to physicians who will not be practicing in any manner during this period. A second option allows for an individual temporary policy, including tail coverage, at a separate limit of liability for an additional premium.

Earned Reporting Endorsement Coverage

First Professionals provides free tail coverage upon death or disability, or upon retirement after being with the company for five consecutive years.

Portability

First Professionals policyholders can move their coverage to any other state that First Professionals is actively writing new business.

Affiliated Product Programs

Expectation Management and Medical Information (EMMI)

EMMI is a web-based program that educates patients on certain procedures. EMMI combines clinical and legal best practices into a web-based tool for healthcare providers who want to manage risk by developing better relationships with patients and by increasing their satisfaction with the care provided. Its intuitive approach is very easy for the patients to follow and is available in English and Spanish. It tracks the patient’s progress through the program and can be called upon to recreate that progress whenever informed consent becomes a claim issue. There are currently more than 25 programs available that include OB/GYN, general surgery, bariatric surgery, plastic/cosmetic surgery, cardiovascular surgery, orthopaedics, gastric bypass surgery, oral surgery and LASIK procedures. More than 100 procedures are planned within the year. First Professionals has negotiated a discounted rate fee for our insureds. For more inforfmation regarding the EMMI program, contact David Eismont, Director of Large Group Sales at (800) 741-3742, ext. 3070.

Accidental Death and Dismemberment

First Professionals insureds receive $100,000 of accidental death and dismemberment coverage. There is no cost to the insured for the first $100,000 of coverage. Insureds will forfeit the free base coverage if they no longer purchase malpractice insurance from First Professionals. For more information regarding accidental death and dismemberment coverage, contact Sharon Allen, Director of Policyholder Services at (800) 741-3742, ext. 3026.