Med Mal Coverage for Residents and Fellows
Late April, early May is the time of the year that our website and 800 number (1-866-824-0137) is deluged with calls, e-mails and submissions regarding med mal coverage for residents and fellows. In most cases, residents are covered under the hospital policy with which they are affiliated. However, there are times when a resident has time available and access to other programs at other institutions. In that case, the current hospital’s med mal policy for Residents and Fellows would not cover the resident at the new institution and the resident would then qualify for an inexpensive short-term policy. (Please note that surgical residencies are likely to cost more.)
As residents finish their training, and July 1 rolls around, there is a mad scramble for fellowship med mal coverage –especially among foreign medical residents. It’s always advisable to try and secure coverage as soon as possible. We’ve seen physicians lose their fellowships because they have not secured coverage in time. And, it’s silly to put off getting coverage –the process is simple and streamlined.
Rates. Ok, so we promised you inexpensive and streamlined med mal coverage for residents and fellows. Now what? To get the process started, we’ll mail you a short, two-page application that you can e-mail or fax back to us. Along with the med mal insurance for residents application, please include a short description of the dates of coverage needed and the hospital or the medical center location. We’ll process it and send you a binding document along with payment information within 24 hours. As noted above, surgical med mal coverage is available but the application is much more comprehensive and the processing time is longer. The cost of (non-surgical) med mal coverage for residents and fellows coverage is roughly $300-400/month for up to 12 months. The 12 month cost of coverage is roughly $1200. The policy will reflect the traditional med mal insurance limits that are in the state where the coverage is being requested.
And, you should know that even if you are reading this in the evening or on the weekend and you need med mal coverage for residents and fellows, please know that we can still answer your questions and/or accept your application. Talk to one of our medical malpractice insurance agents today!