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FAQ's What Specialties and Territories does Medicus Insure? Can I finance my insurance premium? How do I make changes to my coverage? How do I get a certificate of insurance? What if my agent does not show Medicus as an alternative?
Policy Questions: What is a "claims made" policy? What is an "incident sensitive trigger"? How does a "consent to settle" policy differ from a "hammer"? What is a "tail" and how do I qualify for one?
Claims questions: How do I report a claim or a medical incident? Who handles claims at Medicus? Are there risks in proactively reporting a medical incident?
Answers Medicus is an admitted insurance carrier in Texas, Illinois, Nevada, Oklahoma, Kansas, Missouri, Utah, West Virginia, and Indiana.
Medicus is a stock insurance company with a non-assessable insurance policy. Policyholders will never be asked to contribute capital to the company. Medicus is funded through a $100 million stock subscription facility, of which, $25 million has been drawn down into its holding company initially. With a strong balance sheet and the ability to call upon additional captial, Medicus enjoys a strong financial position.
What Specialties and Territories does Medicus Insure? Medicus insures all specialties and territories in each of the states in which it is admitted to provide insurance with the exception of bariatric medicine. Certain procedures and practice elements are subject to additional underwriting review. However, Medicus wants to insure all traditional aspects of medicine
Medicus Insurance is available through a small group of the very best Insurance Agents in the United States. You can also request a premium indication directly by emailing underwriting@medicusins.com. Or you may download the Medicus application by clicking HERE and then either submit it electronically or by fax. Please see the applicaiton for instructions. Or you may obtain a premium indication by submitting a competitor’s application that has been filled out in the past 13 months. Or you may download our quick 2-page application by clicking HERE. You must also include a credentialing application when you submit this application electronically or by fax. Phone: (866)-815-2023 Fax: (877)-686-0558
Can I finance my insurance premium? Yes, Medicus Insurance offers a premium financing option for its insureds. 0% financing is available in many cases. Interest rates and payment plans vary based on the quoted premium. For more information contact our Sales Team at sales@medicusins.com
How do I make changes to my coverage? You can easily make changes to your policy by contacting your Agent or the Underwriting Team at Medicus directly. To reach our Underwriters, email underwriting@medicus.com or call (866)-815-2023, ext. 2.
How do I get a certificate of insurance? You get a certificate of insurance in two ways:
What if my agent does not show Medicus as an alternative? There is the chance that your preferred agent is not appointed by Medicus. If that is the case you can request a premium indication directly by emailing sales@medicusins.com or by faxing your credentialing application directly to our Sales Team at (877)-686-0558.
Policy Questions: What is a “claims made” policy? "Claims made" is a definition of the way that Medicus handles claims against its insured’s. Specifically, a “claims made policy” covers you, as the physician, for any claim that is made on or after your retroactive date and during the period in which you are insured by Medicus.
What is an “incident sensitive trigger”? At Medicus, we consider a claim to have been reported as soon as an insured reports the incident. We feel that this policy for handling claims favors our doctors because the early reporting of a medical incident can often serve to diffuse potentially volatile situations. In addition, the advice of our team of attorneys and risk management experts may help you avoid a lawsuit.
How does a “consent to settle” policy differ from a “hammer”? Medicus is truly a collaborative effort of Insurance and Medical professionals. In light of this, we feel that a “hammer clause” – one where an insurance company can exercise its right to settle without asking for the permission of the doctor, is unfair and displays a lack of trust in its insureds. Rather, our policy includes “consent to settle” language that requires us to have the consent of the doctor before agreeing to offer any reasonable settlement.
What is a “tail” and how do I qualify for one? A “tail” or “extended reporting period coverage” is coverage that extends past your specific policy period. There are a numerous ways that you can qualify for or obtain a “tail:” A doctor can purchase a “tail” at the end of their policy period with Medicus. They can earn a “free tail” by being an insured for 5 consecutive years and turning 55 during that time. “Free tails” are also offered in the event of death or total disability.
Claims questions: How do I report a claim or a medical incident? You can report a claim 24 hours a day by calling our Claims Hotline at (866)-815-2023 ext. 5. You can write to us at: Medicus Insurance Attn: Claims Department 8500 Shoal Creek Boulevard Building 3, Suite 200 Austin, TX 78757
Who handles claims at Medicus? Medicus Insurance Company utilizes the most comprehensive claims management available: Western Litigation Services. Dedicated exclusively to managing healthcare claims, every adjustor is a licensed attorney. Click HERE to learn more about Western Litigation.
Vicarious liability can have two definitions: The decision by a doctor to practice medicine in more than one geographic area or more than one specialty. Any liability that you, as a doctor, are legally responsible for when rendered by someone else.
Are there risks in proactively reporting a medical incident? Proactively reporting an adverse event or outcome to Medicus is generally without consequence. We will determine whether to open a file and assign you an attorney based on the seriousness of the event. The advice of our team of attorneys or risk management experts may help you avoid a lawsuit.
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