25 Mar COVID-19 : NY Carriers
For those policyholders who face changes in their practice due to the negative impact wrought by COVID, MLMIC has options to be of assistance.
- Part Time Practice: policyholders who face a downturn in hours can reclassify their practice to be on a part time basis. If accepted, part time status carries with it a reduction in premium.
- Suspension of Practice: for those policyholders who have decided to discontinue practice for a period of time to allow the impact of COVID to pass, their practice can be suspended and if approved by MLMIC, premium costs will be reduced significantly. (See more information in our FAQs.)
- Renewal Application Updates: Understanding the demands policyholders face at this time, MLMIC will be delaying the request for updated practice information until next year, including the part time renewal application, which is normally required for renewal. If you currently have part time coverage, we will renew your policy on that basis unless you notify us of a change to full time. Recent changes in your practice should always be communicated to MLMIC so that proper coverage is in place.
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.
While our medical professionals and facilities are facing intense disruptions in supplies, services, and staff, we would like to assure you that PRI is fully operational and available to you as a resource. At the outset of the COVID-19 outbreak, PRI developed contingency plans to ensure that our operations remain intact and uninterrupted should New York become affected. From our underwriters to our claims representatives, and everyone in between, PRI is at your service. For our policyholders facing disruptions to their practice and potential financial hardship, PRI is here to assist you.
Med Pro RRG
What if my premium payments are impacted due to COVID-19 developments?
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, 2020 (applicable to payments originally due on or after March 13, 2020). For those customers who elect to pay their premiums, we will continue to accept payments (customers interested in suspending ACH payments must contact MedPro).
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.
Please note we are unable to postpone due dates relating to premium finance contracts.
We understand that some practices will be significantly impacted by reduced patient volume, especially those whose practice focuses on elective procedures. You may submit a written request to change your practice hours to less than 20 hours per week, or less than 10 hours per week, and we will credit your account accordingly. Please reach out to your agent or broker to make any of these coverage changes, or feel free to contact us directly.
Coverys RRG is working closely with it’s insured physicians to accommodate premium relief requests. Please contact Coverys RRG or your broker to inquire.