I’m covered under the policy of the clinic or hospital where I’m serving my residency. Do I still need to purchase additional professional liability insurance for my medical activities outside the training program?
Yes. While most hospitals and clinics do provide coverage for residency activities, these entities seldom provide coverage for moonlighting activities outside the residency program.
Can I expect the same full coverage for my moonlighting activities as practicing physicians?
Yes. SCPIE understands that the professional liability needs for residents are not unlike those of practicing physicians, so we provide residents with the same full claims-made coverage that’s offered to practicing physicians.
What is claims-made coverage?
The standard professional liability coverage for claims that occur and are reported during an insured’s policy period.
Will I pay the same premiums as practicing physicians for the same protection?
Good news! You’ll enjoy the same protection as practicing physicians, but at a 60% savings.
After completing my residency, will I need to purchase additional coverage?
No. At the end of your residency’s policy period, SCPIE will provide you with free Reporting Endorsement tail coverage.
What is Reporting Endorsement tail coverage?
Professional liability insurance coverage that provides for claims that arise from care rendered during the policy period, but are not reported until after the policy has expired or terminated.
Does SCPIE offer any special discounts to residents who have completed their training and are entering practice?
Yes! SCPIE offers a significant discount to physicians new to practice: 75% their first year, 50% their second year and 25% their third year.
