Physician Program

Program Highlights

The PSIC family of companies has protected the reputations and met the malpractice insurance needs of healthcare professionals since 1946. At PSIC, we understand it takes years to build a reputation, but it can quickly be ruined. That's why we take the time to help you understand your choices.

Working with PSIC

  • Claims-Made Coverage Available - A claims-made policy provides coverage for claims of alleged incidents that both occur and are reported on or after the day coverage begins, but before the policy terminates. (The first day claims-made coverage begins is called the retroactive or "retro" date.) 
     
  • Consent-to-Settle –  The consent-to-settle clause directs the actions of the carrier in the event of a claim or suit. PSIC's true consent-to-settle clause gives the choice to consent or not consent solely to you - the insured. There are no policy conditions which could penalize you should consent not be granted. 
     
  • Risk Management & Discounts Participate in PSIC-approved risk management activities and you may qualify for premium discounts.
     
  • Cyber Liability & Regulatory Action coverage Starting at a $50,000 aggregate limit for 10 areas of coverage, including multimedia, network security and privacy, privacy regulatory defense and penalties, privacy breach/patient notification and credit monitoring expenses, network asset protection, cyber extortion, cyber terrorism, regulatory proceedings (wrongful billing), brand guard and PCI DSS assessment.
     
  • Extended Reporting Coverage Provided at no additional charge for death or total and permanent disability, or total retirement at age 55 after five years of continuous claims-made coverage with PSIC. For policyholders with less than five years of continuous coverage with PSIC who retire at or after age 55, a 20% reduction in premium for each full year of coverage applies.
     
  • Government Proceedings Defense Costs Paid up to $25,000 for state disciplinary proceedings and Quality Improvement Organization Sanction Proceeding.
     
  • Discounts Available For remaining claims-free and/or participating in risk management programs, working part-time hours and for new graduates.
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