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Coverages for
Former Insureds of
Carriers in Liquidation |
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The
PAJUA offers coverage to those health
care providers who were previously insured by licensed or
approved carriers, currently in liquidation for 5 months
following the liquidation order.
We require both a standard
application and a supplemental application.
Complete the standard application as if you were completing it
at the time you (or your organization) were covered by the
liquidated carrier. It is critical that you
answer all the questions on the application completely.
If you do not have loss runs from your insurance carriers,
attach a list of the claims that have been made against you
(or your organization) to the best of your knowledge.
Include the date of the alleged incident and the current
status as well as any information you have about amounts paid
on the claim. In the space where the effective date of
coverage is noted, write in See Supplemental
Application. Determine which supplemental application
you need and click on the title to download the application.
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If you (or your organization) previously had occurrence
coverage
and the carrier was a licensed carrier, complete the Excess
Supplemental Application.
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If you (or your organization) previously had occurrence
coverage
and the carrier was a non-licensed, approved carrier (such as
a reciprocal or other approved non-admitted carrier), complete
the Prior
Acts Supplemental Application.
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If
you (or your organization) previously had claims-made
coverage and purchased a tail policy, complete the Tail
Replacement Application.
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If you
(or your organization) previously had claims-made coverage
that was in force within 60 days prior to the order and did
not purchase a tail policy, complete the Extended
Reporting Period (Tail) Application.
You do not need this coverage if you were able
to purchase claims-made coverage with prior acts coverage.
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If you
(or your organization) previously had both occurrence and claims-made
coverage for
different periods, complete both of the applicable
supplemental applications.
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On the
supplemental application, it is mandatory that the last
question be answered yes or no with any yes response
explained.
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Be sure
to sign both the standard application and the supplemental
application.
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| Coverage
will be effective the date we receive a payment from you (or
your organization). This
means that if you (or your organization) have a claim made
against you (or your organization) before we receive payment,
the claim will not be covered. |
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If you
wish to secure coverage as quickly as possible, you may submit
a check with your application for $4,000 for hospitals and
primary health care providers; $1,500 for nursing homes; or
$500 for individuals, professional corporations or
associations or birth centers made payable to PAJUA.
This is the nonrefundable
minimum premium and
will be applied to the premium for these coverages.
We will then work up the premium for the coverage and
you (or your organization) will have 2 weeks to pay the
balance due to keep the coverage in force.
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Otherwise,
you may submit your application and we will give you a
quotation. You (or
your organization) can then submit the full premium to bind
coverage on the date we receive the check.
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