Protect Your Home

 

You’ve spent time, energy, and money on picking out the perfect Holiday and Valentine’s Day gift.

But did you know most policies limit the amount of insurance for jewelry, watches, and furs?

Protecting yourself is much more affordable than you might think!

Contact Allison Sanchez at asanchez@icnj.com or 201-525-1100 (x19) for more information.

Pediatricians- Start Saving!

Don’t miss this opportunity to reduce your malpractice premium through the AAP/NJ Purchasing Alliance and MDAdvantage. You could be saving 20% annually!

Base Premium: $8,644

Premium Credits Available: $2,596

     AAP NJ Purchasing Alliance Credit

     Practice On-Site Assessment

     Electronic Medical Record System

     Practice Self-Assesment

     Electronic Prescription Writer Credit

    Educational Program Credit

Final Annual Premium: $6,048

And remember- MDAdvantage Insurance Company of New Jersey has been assigned a financial strength rating of “A- (Excellent)” from A.M. Best!  Step up to a whole new level of protection with MDAdvantage in partnership with  the AAP NJ Chapter and AAP NJ Purchasing Alliance.

Contact Geri Warick at 201-525-1100 (x18) or gwarick@icnj.com and start saving!

This Premium Indication represents one premium possibility, and includes an array of product credits that are available through MDAdvantage® for your specialty.

Your final premium proposal may vary depending on your particular circumstances, and will be developed once all of your information has been submitted to MDAdvantage.

This Premium Indication does not extend any commitment of coverage or pricing on the part of MDAdvantage Insurance Company of New Jersey.

Orthopedics- Start Saving!

Don’t miss your chance to reduce your malpractice premium through the New Jersey Orthopedic Society/Orthopedic Surgeons of New Jersey (NJOS/OSNJ) Purchasing Alliance and and MDAdvantage.

The savings are significant!

Base Premium: $39,461 (including spine) $33,124 (excluding spine)

Premium Credits Available: $8,045 (excluding spine) $9,596 (including spine)
Orthopedic Society Purchasing Alliance Credit
Practice On-Site Assessment
Electronic Medical Record System
Practice Self-Assessment
Electronic Prescription Writer Credit
Educational Program Credit
Final Annual Premium: $25,079 (excluding spine)
$29,865 (including spine)

And remember- MDAdvantage Insurance Company of New Jersey has been assigned a financial strength rating of “A- (Excellent)” from A.M. Best!
Step up to a whole new level of protection with MDAdvantage in partnership with NJOS/OSNJ Purchasing Alliance.

Contact Geri Warick at 201-525-1100 (x18) or gwarick@icnj.com and start saving!

This Premium Indication represents one premium possibility, and includes an array of product credits that are available through MDAdvantage® for your specialty.

Your final premium proposal may vary depending on your particular circumstances, and will be developed once all of your information has been submitted to MDAdvantage.
This Premium Indication does not extend any commitment of coverage or pricing on the part of MDAdvantage Insurance Company of New Jersey.

Your coverage, your way

As you may already know, professional liability insurance is available in two forms – occurrence or claims-made.  Although both provide protection, there are major differences between the two and selecting your policy type is one of the most significant decisions you’ll make when buying professional liability coverage.

 

Occurrence

Occurrence coverage responds to a claim based on when the dental treatment occurred, regardless of when the claim is actually made against you. As long as the incident occurred during the policy period, your occurrence policy will respond according to the terms and conditions of the policy — even if the claim is made after the policy period expires. For example, if a claim is made in 2012 based on treatment rendered in 2010, the 2010 occurrence policy responds.

 

With occurrence coverage, you receive a separate set of limits every year you have the coverage.

 

Claims-Made

Claims-made coverage, by contrast, responds to claims based on when the claim is made against an insured. For example, if a claim is made in 2012, based on treatment rendered in 2010, the 2012 claims-made policy responds, as long as the incident occurred after the policy’s retroactive date. The policy’s retroactive date is the date after which treatment must occur to trigger coverage.

 

Because claims-made policies do not cover claims made after the termination of the policy, you must secure “tail” coverage (an extended reporting endorsement) at the termination of the policy.

 

To learn more on occurrence vs. claims made and take our quiz on which is right for you please visit: http://www.medpro.com:80/web/ppdjk0gr/home

Homeowners Insurance for Professionals

Homeowners insurance is changing. You may have noticed that your rates are rising; Insurance companies are adding windstorm and hurricane deductibles to your policy; and they are trying to blame it all on Hurricane Irene and Superstorm Sandy.

 

But we understand that as a healthcare professional, you’re far too busy taking care of your patients to shop around for homeowner’s insurance coverage.  That’s where we come in! We represent over 10 companies offering homeowners insurance coverage, and we provide hands on customer care.  We don’t use “toll free” 800 numbers, and our staff is local – not a call center in a different time zone.

 

So, whether you have good or bad credit, had claims or not, live down the shore or in the city, or own a Cape Cod or Center Hall Colonial; we can help you find the coverage you need, at a reasonable cost you can afford.

Don’t hesitate, contact us today, and let us do the shopping for you.  We’re available by phone at 201-525-1100 ex 19, or via email at info@icnj.com

Low price dosen’t always equal great value,

At PPA, we understand you want a “great deal” when purchasing your healthcare malpractice insurance. But, if you’re involved in a claim, not only are your career and reputation at stake, but your personal assets can be as well.

 

Healthcare is changing: costly regulatory mandates are changing the way you provide patient care; insurance reimbursement rates are decreasing, and overhead expenses are increasing. Of course, your first instinct is to reduce the costs of doing business, and because healthcare liability coverage is a significant expense, you may feel compelled to shop around for the lowest priced coverage. But, as set out below, there are many reasons why the lowest priced coverage may not be the best value, and therefore, may not be in your best interest.

 

When considering healthcare malpractice coverage, we encourage you to review price in the context of value. Your selection of company and coverage will have a big impact on whether you’re getting the best coverage for your money.

Because it’s your good name.

As a dentist, you likely already understand the importance of the stability and strength your malpractice insurance carries. That’s why Professional Protective Alliance is a proud broker of Medical Protective (MedPro).

We hope you never experience a lawsuit. Unfortunately, a typical dentist in the United States is sued, on average, once in his or her career (more or less depending on location). With this inevitability in mind, it is important to remember that claims defense is really the primary service you are purchasing with your premium dollars. You are placing confidence in the insurer’s promise to defend you, and pay for damages, should you be sued in the future. After all, settlement of a claim involves more than money; it can have a long-term negative effect on your reputation, your license, and your practice.

We choose MedPro because we know you work hard to build a good reputation.  Did you know many companies settle malpractice claims without your consent?  They use loopholes like the “Hammer” clause, board approval and binding arbitration, your availability, or even dub you are “unreasonable.”  It happens all the time.  This is just one reason MedPro is a trusted leader in the professional insurance field.  They will NOT compromise ANY claim without the consent of the insured.  Give Geri Warick a call today at 201-525-1100 ext. 18 or an e-mail at gwarick@icnj.com. Our clients have the benefit of our extensive experience in matching their needs with their resource allocation and preferences.

We are pleased to announce AAP/NJ Annual Conference & Exhibition!

 

Register here and don’t miss you chance to hear David Schonfeld, MD, FAAP, a world-renowned expert in school crisis and bereavement, address ‘Supporting Children and Families in the Aftermath of a Crisis’ on June 18th and ‘Supporting the Grieving Child and Family’ on June 19th at The Palace in Somerset, NJ

David J. Schonfeld, MD, FAAP, a world-renowned expert in school crisis and bereavement, has been appointed chair of the Department of Pediatrics at Drexel University College of Medicine. He is also the Pediatrician-in-Chief at St. Christopher’s Hospital for Children.  Dr. Schonfeld’s worldwide reputation and expertise extends from pediatric bereavement to pediatric AIDS education and cancer prevention. His expertise in crisis response and bereavement has made him a sought-after authority in the U.S., as well as in Asia, Europe, and elsewhere in the world.  He is the founder and director of the National Center for School Crisis and Bereavement, which specializes in providing information and support to children and schools after crises, like a shooting or natural disaster. “Since children spend half of their waking hours in school, a school is the ideal location to provide support,” he says. “The center provides tools that schools need to help students heal.”  Dr. Schonfeld provided pediatric bereavement and school crisis consultation in the aftermath of Hurricanes Sandy, Katrina, and Ike, as well as after the shootings in Aurora, Colorado and recently in Newtown, Connecticut. Because of his work in Newtown, Schonfeld has been named to the Sandy Hook Advisory Commission which will make recommendations on school safety, mental health, and gun violence prevention. 

Walk for a cause!

It has been 9 years since our client’s son, Eddie, was diagnosed with IGA Nephropathy (a autoimmune disease that attacks the kidneys.) The family has focused all their bad energy into good energy and thus work endlessly on the IGA Nephropathy Foundation of America they started 9 years ago.

It isn’t just about Eddie any more. They help patients 24/7 by offering moral support, help find kidney donors for those in end stage and support after transplant.

Every year it gets harder to raise the money that they give directly to research ongoing at the University of Alabama-Birmingham that holds so much promise for Eddie and their patients. We are spreading the word to join them on June 23, 2013 for their 9th annual 5K Run /Walk for kidney disease.

Please click the link below for the flyer and share this link to spread the word!

https://docs.google.com/viewer?a=v&pid=gmail&attid=0.1&thid=13e801e8de65729b&mt=application%2Fpdf&url=https%3A%2F%2Fmail.google.com%2Fmail%2Fu%2F0%2F%3Fui%3D2%26ik%3Dcc947cabc6%26view%3Datt%26th%3D13e801e8de65729b%26attid%3D0.1%26disp%3Dsafe%26zw&sig=AHIEtbRfzAx-s9wBZJd9OjiUwaZ-0-u89Q

from AMA Advocacy Resource Center

A physician who maintains a professional medical practice in New Jersey and has a responsibility for patient care is required to be covered by medcal malpractice liability insurance issued by a carrier authorized to write medical malpractice liability insurance policies in the Statem in the sum of $1 per occurance and $3 million per policy year unless renewal coverage includes the premium retroactivr date, the polich shall proive for extended reporting endorsement coverage for claim mades policies, also known as “tail coverage,” or, if such liability coverage is nott avaliable, a letter of credit for at least $500.000.

 

State Statutes

Physicians

N.J.STAT.ANN. § 45:9-19.17 – Physicians, mandatory medical malpractice liability insurance coverage– a. A physician who maintains a professional medical practice in this State and has responsibility for patient care is required to be covered by medical malpractice liability insurance issued by a carrier authorized to write medical malpractice liability insurance policies in this State, in the sum of $1,000,000 per occurrence and $3,000,000 per policy year and unless renewal coverage includes the premium retroactive date, the policy shall provide for extended reporting endorsement coverage for claims made policies, also known as “tail coverage,” or, if such liability coverage is not available, by a letter of credit for at least $500,000.

The physician shall notify the State Board of Medical Examiners of the name and address of the insurance carrier or the institution issuing the letter of credit, pursuant to section 7 of P.L.1989, c. 300 (C.45:9-19.7).

b. A physician who is in violation of this section is subject to disciplinary action and civil penalties pursuant to sections 8, 9 and 12 of P.L.1978, c. 73 (C.45:1-21 to 22 and 45:1-25).

c. The State Board of Medical Examiners may, pursuant to the “Administrative Procedure Act,” P.L.1968,c. 410 (C.52:14B-1 et seq.), establish by regulation, minimum amounts for medical malpractice liability insurance coverage and lines of credit in excess of those amounts required pursuant to subsection a. of this section.

d. The State Board of Medical Examiners shall notify all physicians licensed by the board of the requirements of this section within 30 days of the date of enactment of P.L.2004, c. 17.

N.J.STAT.ANN. § 45:9-22.4 – Definitions – For the purposes of this act:

“Practitioner” means a physician, chiropractor or podiatrist licensed pursuant to Title 45 of the Revised Statutes.

New Jersey Medical Malpractice Liability Insurance Act

N.J.STAT.ANN. § 17:30D-2 – Purpose; application to medical malpractice liability insurance – a. The purpose of this act is to assure that medical malpractice liability insurance is readily available to licensed medical practitioners and health care facilities by establishing a reinsurance association, requiring the association to reinsure medical malpractice liability insurance policies issued by certain providers and permitting the association to write such policies on a direct basis, to determine when the association has Advocacy Resource Center © 2012 American Medical Association. All rights reserved.23 sustained a deficit, and to provide for recoupment of losses resulting from the operation of the association through surcharges on insureds and to grant the Commissioner of Insurance temporary emergency powers to set up and operate the reinsurance association if such insurance is unavailable for any class of licensed medical practitioners or health care facilities.

b. This act shall apply to medical malpractice liability insurance as defined herein.

N.J.STAT.ANN. § 17:30D-3 – Definitions – As used in this act:

c. “Licensed medical practitioner” means and includes all persons licensed in this State to practice medicine and surgery, chiropractic, podiatric medicine, dentistry, optometry, psychology, pharmacy, nursing, physical therapy and as a bioanalytical laboratory director.

N.J.STAT.ANN. § 17:30D-10 – Additional premium charges on policies of medical malpractice liability insurance – For the purpose of providing moneys necessary to establish the recovery fund in an amount sufficient to meet the requirements of this act, the commissioner shall establish reasonable provisions through additional premium charges for policies of the various categories and subcategories of medical malpractice relationship to the loss experience both past and prospective of the association and its members attributable to such category or subcategory.