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ISMA membership saves 5% from ProAssurance
e-Reports, June 11, 2012
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Your ISMA membership qualifies you for exclusive savings on medical professional liability insurance from ProAssurance (see here). Beginning July 1, ISMA members will receive a 5 percent premium credit at policy renewal from our endorsed liability insurer.

For current policyholders, the credit will automatically be applied upon policy renewal. New policyholders will be eligible if they are ISMA members, effective July 1 and later. Members are already seeing the credit reflected in their premium invoices.

“This represents a significant ISMA membership benefit,” said Thomas Vidic, M.D., ISMA president. “The Elkhart Clinic, where I practice, has the potential to save $15,000.”

Savings by Specialty
Specialty Maximum ProAssurance 5% Credit* PCF Surcharge Reduction (10.2%) ProAssurance Premium Credit + PCF Reduction
Pediatrics - No Surgery -$226.90 -$271.00 -$497.90
Emergency Medicine - No Surgery -$189.90 -$487.00 -$676.90
Dermatology - Minor Surgery -$337.95 -$379.00 -$716.95
Family Practice (GP) - Minor Surgery - No OB -$337.95 -$487.00 -$824.95
Internal Medicine - Minor Surgery -$411.95 -$487.00 -$898.95
Surgery - Urological -$485.95 -$610.00 -$1,095.95
Surgery - Otorhinolaryngology -$485.95 -$813.00 -$1,298.95
Surgery - General Not Otherwise Classified -$1,152.05 -$1,219.00 -$2,371.05
Surgery - Orthopedic -$1,028.70 -$1,897.00 -$2,925.70
Surgery - Cardiovascular -$1,152.05 -$1,897.00 -$3,049.05
Surgery - Obstetrics/Gynecology -$1,275.40 -$2,303.00 -$3,578.40
Surgery - Neurology -$1,892.15  -$2,303.00 -$4,195.15
*Actual premium credit amount may be more or less depending on territory, subspecialty and additional premium credits applied.

Renewal savings
Other practices have noticed the savings, as well. CENTA, an Indianapolis ENT practice received an average savings of $385 for each of their five ISMA member physicians—the cost of ISMA dues. “We definitely appreciate the 5 percent credit for our ISMA membership,” said Andy Zutter, CENTA CEO.

Points to consider
In addition to the premium credit, ProAssurance outlined additional benefits including its 30 years of experience in Indiana and A (Excellent) rating from A.M. Best. Policies provide Claims-made Plus®, free tail coverage with any of several trigger events. Coverage includes a free limited cyber liability endorsement.

ISMA members who are currently insured by other liability carriers may contact ProAssurance for a free no-obligation premium quotation. Call your local agent or the company’s Indianapolis office at (800) 284-7424.

To join the ISMA and become eligible for the discount, apply for membership online.

Dr. Vidic pointed out that this credit is in addition to the Patient’s Compensation Fund 10.2 percent surcharge reduction that physicians will also receive this year.

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