COVID-19 : NJ Carriers

At the request of Medical Society of New Jersey, the partners of Acadia Professional, Scott Parker, Brian Kern and Henry Kane, put together the following synopsis of carrier positions regarding premium payment relief.  If your practice has been scaled back we suggest you speak to your insurance agent about how this relief may apply to you or your partners.

This listing will be constantly updated. Last update: 4/24/20

Details on the relief provided by each carrier:

CMIC Group

CMIC – Special Dividend for CMIC Members

CMIC has declared a special $5 million dividend, which “is being distributed to help support their healthcare providers through the challenges created by the COVID-19 outbreak.”

CMIC is also deferring all premium payments currently due until June 30, 2020.

Conventus:

For members taking a leave of absence during the pandemic OR whose practice has been reduced substantially, Conventus has established a relief program.  Contact your agent or underwriter for information specific to each practice.

Members who need to request an amendment to their premium payment schedule during the COVID-19 crisis should contact their agent or the Conventus finance team.

Coverys

Any short-term policy exposure adjustments due to COVID-19 will be done on a retroactive basis. This is important as it will ensure that changes are appropriate based on the true exposure. Some of these underwriting issues were addressed in our recently released FAQs.

Regarding financial challenges, Coverys is offering premium payment deferral upon request and approval to minimize burdens for our insureds. Please reach out to your agent and they will work with Coverys to consider appropriate accommodations. We also recognize that a number of states have issued emergency bulletins regarding policyholder requests for premium payment delays and policy cancellations for non-payment. Coverys intends to comply with all state requirements as they are implemented and will continue to monitor and update accordingly.

CURI:

CURI – Financial Hardships Offerings

TEMPORARY PRACTICE CLOSING: WHAT IF MY PRACTICE MUST CLOSE FOR AN INDEFINITE PERIOD OF TIME DUE TO THE COVID-19 PANDEMIC?
Curi will offer a suspension of medical professional liability (MPL) coverage for a minimum period of 30 days, up to a maximum of one year. Your medical professional coverage will remain in place and cover incidents occurring prior to the beginning of the suspension of coverage period. It is very important to note that there will be no coverage for claims arising from incidents occurring during the suspension period.   Due to the significant and immediate impact the COVID-19 pandemic has had on physician practices, Curi will provide this suspended coverage at a 100% discount to your current annual premium. (Depending on your state of practice, you may still be responsible for premiums related to state-specific compensation funds).

FURLOUGHING PHYSICIANS AND/OR APPs:  WHAT IF MY PRACTICE REMAINS OPEN, BUT I MUST REDUCE MY PROVIDER STAFF FOR AN INDEFINITE PERIOD OF TIME DUE TO THE COVID-19 PANDEMIC?
Curi will offer a Leave of Absence (LOA) coverage for individual physicians and/or advanced practice providers (APPs) that carry their own individual limits of coverage for a minimum period of 30 days, up to a maximum of one year. For the individual on LOA, their MPL coverage will remain in place and cover incidents occurring prior to the beginning of the suspension of coverage period. It is very important to note that there will be no coverage for claims arising from incidents occurring during the LOA period.   Due to the significant and immediate impact the COVID-19 pandemic has had on physician practices, Curi will provide this suspended coverage at a 100% discount to your current annual premium. (Depending on your state of practice, you may still be responsible for premiums related to state specific compensation funds).

PREMIUM RELIEF OPTION:  WHAT IF MY PRACTICE IS REMAINING CLINICALLY ACTIVE, BUT THE COVID-19 PANDEMIC IS IMPACTING THE PRACTICE’S ABILITY TO PAY MY MPL INSURANCE PREMIUM?
We recognize the potential financial hardships our members are facing due to the COVID-19 pandemic. As a result and as your partner, effective immediately, we are suspending all MPL invoicing until June 30, 2020. This will include all scheduled electronic premium payment drafts, even if you have received a draft notice from us indicating otherwise. During this period, your policy will remain in force. Should your practice have the means and the desire.

MD Advantage

IF I AM LIMITING OR REDUCING MY SURGERIES, CAN I ALSO EXPECT A REDUCTION IN PREMIUMS?
Your MDAdvantage policyholder services representative can evaluate changes to your exposure and determine whether or not a change in premium is warranted. Please contact your broker to discuss your specific situation.

WILL YOU ALLOW SUSPENSION OF COVERAGE IF MY PRACTICE CLOSES DUE TO COVID-19 CONCERNS?
Yes, we will suspend coverage on your policy, which also suspends premium, on a retroactive basis after 30 days. Please contact your broker for assistance.

MD Advantage is constantly updating their website you can link to it [here]

NORCAL Group:

NORCAL is “keeping a close eye on regulatory guidance provided by each state, and will send state-specific updates as quickly as possible after we receive them.”  They have alerted their agents to contact them: “if you have clients who have been affected by COVID-19 and need immediate premium relief assistance”

NORCAL expects to post additional updates on premium relief to their website in the near future:  https://www.norcal-group.com/pandemic

NORCAL we will be suspending cancellations due to non-payment of premium until June 30, 2020 for active policies with invoices due on or after March 13, 2020. Any Notices of Cancellation issued on or after March 13 will be rescinded.

NORCAL has initiated new guidelines that will help policyholders you during this unprecedented time:

The following options are now available:

  • Suspension of Coverage Due to a Temporary Practice Closure – NORCAL can reduce the premium for practices temporarily closed due to COVID-19 through a suspension of coverage. Your policy coverage would be suspended until Aug. 1, 2020 (unless you contact us sooner to reinstate), and there is no waiting period to initiate a coverage suspension.
  • Reduced Hours Premium Credit – NORCAL can consider an immediate premium credit for eligible practices reduced to 20 hours or less due to COVID-19. This credit would be in effect until Aug. 1, 2020 (unless you contact us sooner to return to full-time). To initiate this credit, we ask that you complete a Part-Time Practice Discount Questionnaire by contacting your agent.
  • Reduction in Practice Profile – Physicians who have changed or significantly reduced their practice profile (e.g. in a surgical specialty but not currently providing surgical care) due to the COVID-19 emergency should contact their agent immediately. We can discuss changes in your practice that may result in a premium reduction.

Positive Physicians

WHAT IF I AM NO LONGER ABLE TO PRACTICE MEDICINE SECONDARY TO COVID-19 CONCERNS?
In order to maintain your medical license, you must maintain medical liability coverage. Therefore, we recommend not cancelling your coverage. An underwriter can evaluate changes to your practice exposure and determine if a change in premium is necessary. Please reach out to your agent or underwriter to discuss your specific situation.

IF I AM LIMITING OR REDUCING MY SURGERIES, CAN I ALSO EXPECT A REDUCTION IN PREMIUM?
An underwriter can evaluate changes to your exposure and determine if a change in premium is warranted. Please reach out to your agent or underwriter to discuss your specific situation.

Positive will suspend cancellations due to non-payment of premium until June 30, 2020 for invoices due after April 1, 2020.

Princeton/MedPro:

“In order to ease the financial burden faced by our customers during the COVID-19 pandemic, MedPro is temporarily postponing due dates for outstanding premium payments until June 30. For those customers who elect to pay their premiums, we will continue to accept payments.

“In addition, we are monitoring state regulatory changes and adjusting accordingly. For instance, the Indiana, Kansas, Louisiana, Nebraska, New Mexico, Pennsylvania, and Wisconsin patient compensation funds (PCF) may make changes to their surcharge, assessment and coverage requirements.”

“Please note we are unable to postpone due dates relating to premium finance contracts.”

WHAT IF MY PRACTICE IS BEING TEMPORARILY SUSPENDED OR REDUCED DUE TO COVID-19 DEVELOPMENTS?
If your practice is being suspended or reduced to less than 20 hours per week for at least 45 days, you may qualify for a premium discount applied to that portion of your policy period impacted by the change. Please contact your agent/broker to initiate a request.

We encourage you to review MedPro/Princeton, FAQ and Risk Resource information pertaining to the COVID-19 pandemic. The FAQ is updated frequently. https://www.medpro.com/covid-19-information-and-resources

ProAssurance:

“ProAssurance will suspend cancellations due to non-payment of premium until June 30, 2020 for invoices due after April 1, 2020. Additionally, we will remain in compliance with the Departments of Insurance (DOI) for individual states which have guidance beginning before or ending after our own grace period.

We recognize the potential for financial hardship on medical practices during this crisis. ProAssurance will continue to monitor the situation and be ready to review this and all other accommodations accordingly. For a current list of relevant bulletins, please visit our COVID-19 Department of Insurance Bulletins page.

If you have a situation that merits special consideration beyond what is stated here, please let us know by completing a Premium Payment Deferral Request Form.”

For the most updated information please check ProAssurance’s website: https://www.proassurance.com/covid-19/#coverage

The Doctors Company (TDC):

IF I AM LIMITING OR REDUCING MY SURGERIES, CAN I ALSO EXPECT A REDUCTION IN PREMIUM?
An underwriter can evaluate changes to your exposure and determine whether or not a change in premium is warranted. Please reach out to your agent or underwriter to discuss your specific situation.

WHAT IF MY PREMIUM OR DEDUCTIBLE PAYMENTS ARE IMPACTED?
Policy cancellation and premium installment due dates will be adjusted if your practice has been disrupted by COVID-19—to ensure there is no break in coverage if you are unable to make payments due to impacts of the emergency. Call us at (800) 421-2368, press 1 for Member Services, then 1 again for Billing.

WILL YOU ALLOW SUSPENSION OF COVERAGE IF MY PRACTICE CLOSES DUE TO COVID-19 CONCERNS?
Yes. We will suspend coverage on your policy, which also suspends premium. Please talk to your underwriter or agent right away, so we can help you.

TDC will be making updates on this topic please check their website: https://www.thedoctors.com/articles/covid-19-faqs/

Note on a leave of absence or short term cancelation:

While many healthcare providers have contemplated taking a leave of absence, doing so is more complicated for physicians.  In addition to understanding coverage issues, physicians must also consider the impact on credentialing with hospitals and insurance companies, as well as licensing.  Physicians choosing to go on leave are generally not permitted to provide any patient care, and should notify patients accordingly.

The MPL industry is working hard to help its clients as the developing crisis continues to unfold, and recognizes that each situation is unique.  For more information, please contact your broker.  Brokers should be prepared to discuss the unique situations in which physicians find themselves and react accordingly.

Please also visit Acadia’s website for ongoing updates on COVID-19 and its impact on medical practices https://acadia.pro/coronavirus/ as well as the MSNJ website: www.msnj.org

COVID-19 : NY Carriers
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