Claims-Made Coverage
What is Claims made Coverage?
This Claims-Made Coverage provides insurance protection to a covered clinician, organization, or additional insured from losses resulting from covered medical professional liability claims made with the following conditions being met:
- Claims can be reported for any loss resulting from any covered activity provided the activity took place within the coverage period, determined by the retroactive date.
- The claim must be reported in writing within the policy period.
Any subsequent claim related to a previous claim or potential claim will be considered to have been made on the same date that the previous claim or potential claim was reported even if the subsequent claim or potential claim is reported in a different policy period. Claims-Made policies obtained through Red Clay are subject to limits and aggregates.
Who is Protected?
The individual and organization identified on the Declarations Page are covered under this policy. Additionally, other individuals and organizations may be covered if they are explicitly named as endorsements to the policy.
How this Policy Protects You
If a medical professional liability claim arises against an insured, Red Clay RRG gives insurance protection for damages related to covered activities. The insured must comply with all terms within the policy and pay the premium to obtain insurance protection.
Limits of Your Coverage
Policies issued by Red Clay RRG are subject to two separate limits:
1. The Each Loss Limit refers to the maximum that Red Clay will pay toward a singular loss, regardless of the number of claims, during a policy period.
2. The Aggregate Limit refers to the maximum Red Clay will pay for all separate and unrelated claims during a policy period.
Retroactive Date
This policy insures a clinician for covered activities so long as the claim is made on or after the retroactive date and the policy remains in effect. The retroactive date marks the earliest point in time for which a clinician is insured for covered activities.
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