Professional Liability Insurance
Professional liability insurance may be written on an occurrence or claims-made basis and rated according to the provider's professional specialty. Coverage is afforded according to policy provisions. Limits of liability are $200,000 per claim; $600,000 annual aggregate. Excess coverage is available through the South Carolina Patients' Compensation Fund.

Occurrence rating – The premium shall be computed by using the occurrence base rates that are currently filed with the SC Dept. of Insurance in accordance with the insured’s specialty, and by applying any applicable premium modifications such as:  procedures, new physician/dentist discount, part time discount, experience rating, and schedule rating.

Claims-made rating – The claims-made rate progression step factor is applied to the occurrence premium and is “mature” at the 5^th year. All new claims-made policies are issued with a retroactive date equal to the coverage effective date, unless the applicant is approved for prior acts coverage.  Prior acts coverage is provided by the use of a retroactive date prior to the new coverage effective date and is subject to specific approval by the JUA in accordance with certain rules and restrictions. If the claims-made policy is cancelled or non-renewed, except if for non-payment of premium, the insured may purchase extended reporting period coverage (“tail”).  The availability of extended reporting period coverage shall be governed by the terms and conditions of the policy and by JUA underwriting guidelines.  The premium for the extended reporting period will be waived if the insured is an individual and a) dies or becomes totally or permanently disabled during the policy period; or b) retires, if at least age 55, and has been insured under the JUA claims-made professional liability policy for 5 or more continuous years.

Separate practice policy – The practice organization may purchase a separate policy.  If a practice group has physicians and allied providers who are insured under both an occurrence form and under a claims-made form (mixed group), the practice must insure under an occurrence policy form.

Shared limits of coverage – The insured may choose to insure the organization sharing in the limits of coverage provided to the individual. The limit applicable to each entity, corporation, partnership or professional association specifically named as an Additional Insured shall not have its own limit of liability, but shall share in the limits of liability of the individual insured. There is no additional charge for this endorsement.  Coverage to the organization ceases upon the termination of the individual’s policy.