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Policy Features

Professional liability insurance policies are more than commodity products, differentiated by price alone. Our policy incorporates the best features of current professional liability policies, to meet the needs of today’s medical professionals.

Claims that are first known and reported to Galen Insurance Company during the policy term are covered. Because some claims may involve medical events that take place before a policy goes into effect, many doctors, who don’t have an Extended Reporting Period Endorsement (tail coverage) from a previous policy, choose to purchase Prior Acts Coverage (nose coverage) to cover these claims.

Prior Acts Coverage protects you from a gap in insurance protection.

Effective January 1, 2014, Galen Insurance Company includes Cyber and Regulatory Defense Liability as an endorsement to the policy.  Read our article concerning the inherent risks of Cyber attacks.
 Our policy covers you for loss of income caused by attendance at legal proceedings related to a claim, up to a limit of $12,500. It also provides up to $5,000 in cost coverage for defense before a licensing board, peer review committee or government entity investigating a civil matter.
Galen covers you when you are providing medical services. In addition, you are protected when you are providing counseling or social services related to medical care. Peer review and emergency care outside of your home jurisdiction are included.
Unless you choose to waive this right to obtain a lower premium, your consent to a proposed settlement is required in most circumstances. Exceptions include: being deceased, missing, incompetent, unreasonable delay or a claim made during an optional extended reporting period.
Nurses and other employees are usually covered free-of-charge for claims made against them, unless they seek their own separate insurance.
Tail coverage is extended to policyholders who have been insured by Galen for three consecutive years, free of charge, if you become disabled or retire at or after age 55. If you wish to purchase tail coverage because of a change in your practice, Galen offers an unlimited reporting period or a three-year reporting period.

 

Claims that are first known and reported to Galen Insurance Company during the policy term are covered. Because some claims may involve medical events that take place before a policy goes into effect, many doctors, who don’t have an Extended Reporting Period Endorsement (tail coverage) from a previous policy, choose to purchase Prior Acts Coverage (nose coverage) to cover these claims. Prior Acts Coverage protects you from a gap in insurance protection.

Professional liability insurance policies are more than commodity products, differentiated by price alone. Our policy incorporates the best features of current professional liability policies, to meet the needs of today’s medical professionals. Important policy features include:

To provide our policyholders with additional security, Galen purchases reinsurance from only A-rated carriers. All of our policyholders, both past and present, have the assurance that any claim reported to Galen has the financial support of both Galen and these A-rated companies.

Galen Insurance Company is a conventional, risk-assuming insurance company. Unlike 383 Mutual Assessable companies, we cannot charge additional retroactive payments if our claims or expenses exceed expectations. This means that your premiums are a fixed cost for you, even in the event of unanticipated losses or expenses.