Professional Liabilty Insurance
HIC provides primary medical professional liability insurance at competitive rates through our Voluntary Attending Physician (VAP) Program. The HIC VAP Program is available to physicians that have a primary affiliation with one of our partner hospitals. Primary affiliation means that if you admit more than 50 patients per year, at least half of your patients who require hospitalization must be admitted to one of our partner (sponsor) hospitals.
HIC offers both occurrence and claims made coverage options. We also offer our claims-made insureds the option to purchase Extended Reporting Period or Prior Acts coverage.
Claims-Made policies cover claims that occur while your policy is in effect and are also reported while your policy is in effect.
- Extended Reporting Period Coverage
Also referred to as Tail coverage, Extended Reporting Period coverage is available for claims which are reported after the termination date of your claims-made policy, provided these claims are based on incidents which occurred while your policy was active.
- Prior Acts Coverage
Prior Acts (Nose) coverage protects you against claims that arise after your former policy has expired. Extended Reporting Period coverage is not necessary with the purchase of Prior Acts Coverage.
Prior Acts premium is calculated by incorporating the total number of years of continuous Claims-Made coverage needed.
Occurrence policies cover claims arising during your policy period irrespective of when the claims are reported.
Limits of Liability
- $1.3m per occurrence and $3.9m annual aggregate
- The New York State Section 18 excess insurance program provides additional Limits of Liability of $1m per occurrence/$3m annual aggregate to eligible physicians. There is no premium charge to the physician.
HIC offers an automatic annual 12% savings in discounts to our insured VAPs for participating in joint defense and by taking a New York State DFS approved risk management course every two years.
We also offer a number of other savings options to help in reducing your premium.
Additional Benefits HIC offers to our insured VAPs include:
- OPMC Coverage
- $25,000 in the aggregate for legal representation for OPMC administrative hearings or other actions per policy period.
- Limited Coverage for Qualified Professional Entity. (limitations apply)
- Direct excess insurance for physicians that do not have coverage through Section 18 excess insurance.
- Patient Safety tools and related topics as well as complimentary on line CME courses supported by HIC’s parent company The Doctors Company.
Our Affiliate (Sponsor) Hospitals
- Bronx Care Health System (Obstetricians only)
- Burke Rehabilitation Hospital
- Maimonides Medical Center
- Montefiore Medical Center
- Montefiore Mount Vernon Hospital
- Montefiore New Rochelle Hospital
- Montefiore Nyack Hospital
- Mount Sinai Beth Israel
- Mount Sinai Brooklyn
- Mount Sinai Hospital
- Mount Sinai Queens
- Mount Sinai West/St. Luke's Hospital
- New York Eye and Ear Infirmary of Mount Sinai
- St. Luke's Cornwall Hospital
- White Plains Hospital