How Much Coverage Is Really Enough?

A number of important considerations go into selecting the appropriate level of limits to carry. Each decision is as unique as the individual medical provider involved. That’s why having an expert, objective advisor is so important to selecting the limits that fit YOUR needs best. The JUA can provide you with valuable – South Carolina specific – benchmarking information related to limits carried by others in your specialty to use as a guide in your decision making. You may elect to carry limits that are higher or lower than the benchmarks depending on your individual practice, circumstances and other considerations.

For both Occurrence and Claims-made policies, the JUA serves as the primary carrier and writes the first layer of coverage at $200,000 fore each medical incident and $600,000 annual aggregate. ($200K/$600K)

Limits in excess of the JUA are provided by the South Carolina Patients’ Compensation Fund (PCF). The PCF was created for the purpose of paying the portion of a medical malpractice claim that exceeds $200,000 for each incident or $600,000 annual aggregate.

Limits offered by the PCF are:

  • $1,000,000 each medical incident/ $3,000,000 annual aggregate
  • $2,000,000 each medical incident/ $4,000,000 annual aggregate
  • $3,000,000 each medical incident/ $6,000,000 annual aggregate
  • $5,000,000 each medical incident/ $7,000,000 annual aggregate
  • $10,000,000 each medical incident/ $12,000,000 annual aggregate

PCF limits are inclusive of JUA limits.

EXAMPLE:

For an insured carrying $1,000,000 each medical incident/ $3,000,000 annual aggregate limits with the JUA and PCF, coverage would be allocated as follows:

Each Medical Incident Limit of $1,000,000
First: $200,000 JUA
Next: $800,000 PCF
Annual Aggregate Limit of $3,000,000
First: $600,000 JUA
Next: $2,400,000 PCF

It is important to understand that with the JUA & PCF, defense expenses are SEPARATE from the policy limit. That means defense expenses do not count against your limit of coverage as they are incurred.

Combined, the JUA and PCF offer some of the highest medical professional liability limits available anywhere in the country. More importantly, this full range of limits is available on either an Occurrence or Claims-made form. These coverage options, combined with highly competitive, stable pricing and world-class defense have made the JUA and PCF South Carolina medical providers’ #1 choice for nearly 40 years.

To download an application for excess coverage, visit the South Carolina PCF.