Appropriate Assessment of Risks and Exposure
 
As an Insurance Company owned and governed by our insureds, we take a unique approach to the underwriting process.  With the goal of selecting quality risks, the underwriting staff does a complete analysis of each applicant by reviewing:
          - qualifications/training;
          - the merit/medicine behind prior claims, if any;
          - practice parameters;
          - procedures performed;
          - other risks that may be associated with the applicant.
 
The Underwriting Committee, comprised of insured/owner physicians, plays a very important part in assisting the underwriting department in this analysis as well as assessing, when necessary, the general reputation of the applicant in the medical community.
 
The underwriting process may take a littler longer and seem more complex than that of other companies; however, we believe the long term benefits will provide a fair assessment of each risk resulting in a better quality of insureds.

Q. How will I know if the premiums I pay are fair?

A. HUOH’s board of directors—doctors just like you—will review premium recommendations from independent actuaries. Those recommendations will be based specifically on loss experience in Ohio. After a review of the data, your elected colleagues will select the rates to be approved by the Ohio Department of Insurance. Every attempt is made to establish the appropriate rate for each specialty.  Should loss experience prove to be better than expected, excess premiums can be returned to owner-policyholders (with the approval of the Board and the Department of Insurance).

Q. What is a tail policy or tail coverage?

A. A tail insurance policy is additional insurance coverage that covers any claims made after a claims-made policy expires or is cancelled. Since most healthcare providers carry claims made insurance policies, tail insurance provides important protection against claims that could be made months or even years after care was provided to a patient.

Q: Does HUOH provide free tail coverage?

A. HUOH provides free tail coverage to retiring owner-policyholders who have been a policyholder for at least five consecutive years. Tail coverage is also free for owner-policyholders with an active policy who become disabled or deceased.

Q: What are prior acts or “nose” coverage?

A: Prior acts, or nose insurance coverage, protects a doctor from a prior act (treatment rendered to a patient), but not reported as a claim until after the doctor’s previous policy expires or was terminated.
HUOH offers prior act coverage to owner-policyholders who meet our underwriting criteria to purchase this coverage.

Q: How do I get an application processed?

A: HUOH works with independent agents throughout the state.
If you would like to have an agent contact you to start the application process, click here.

Q: What types of policies does HUOH offer?

A: HU follows the national standard for medical professional liability insurance and offers claims-made policies.

Q: What limits of liability are available?

A: In Ohio, HUOH offers annual limits of $1 million with up to $2 million available. Additional limits and specific needs of large medical groups will be considered upon request. Aggregate Limits are available.

Q. Does HUOH insure all medical specialties?

A. Yes. HUOH accepts applications from qualified physicians from any specialty and any part of the state.  Appropriate premiums are charged for each specialty.  The objective is to apply a downward pressure on rates by insuring good doctors and defending them aggressively, regardless of specialty or location.

Q. Does HUOH insure medical office staff and nurse practitioners?

A: Yes; however we do not offer separate limits for ancillary personnel.

Q: Do I pay my capital contribution and premium at the same time?

A: Insurance coverage does not become effective until both capital and premium are paid. In some situations, a physician will make the capital contribution first to establish ownership in HUOH. He or she may make the premium payment at a later date when ready for coverage to commence. HUOH offers a pre approved financing option located here.

Q: Once I am an HUOH insured, is there any guarantee that I can not be canceled?

A: While it is not prudent for any insurance company to offer a blanket guarantee of future insurability, you may rest assured that under most circumstances a  HUOH insured/owner will not  be canceled without undergoing a peer review process, which may include intervention and remediation  before any cancellation becomes necessary.   Moreover, every attempt is made to identify shifts in claims experience early so that we can work together with our insureds to avoid future claims and eliminate any need to consider a cancellation.  We work hard not to cancel a policy.  However, when you consider your position as an owner/insured, it becomes obvious that you do not want your company obligated to cover an uninsurable risk.

Q. I have heard there are some companies that do offer rate and coverage guarantees.  How do they do it?

A. From time to time you will see a company aggressively pursuing your premium dollars by implementing a variety of interesting tactics: ‘special’ pricing and excessive discounting, ‘guaranteed’ coverage, guaranteed rates, and other ‘creative’ solutions.  These are short sighted tactics employed by less experienced management teams that may be compensated heavily for generating a large volume of premium in the short run.  These options may seem attractive at first; however, history has repeatedly demonstrated the folly of these efforts.  The basic math is inescapable. Chasing premium dollars by charging too little and accepting the wrong risks does not work over time.  When companies like these fail (and there have been dozens in recent years), the ‘insured’ doctors and medical groups are the ones left with tremendous coverage gaps, insurability, and premium challenges.

HUOH is designed to operate conservatively:
             - Accepting only doctors and practices that practice quality medicine,
             - Charging appropriate rates,
             - Fighting meritless claims

As always, if you hear of offers that sound too good to be true – then it most likely is too good to be true. 

Q. When my colleagues are talking in the doctor’s lounge, they can’t believe that insurance premiums are a true reflection of the costs.  We all think it’s a ‘rip-off’, especially when we see the press releases bragging about the large profits earned by some malpractice insurance companies.  What is HUOH doing about this?

A. Your comments underscore the importance of Ohio doctors taking control and having true governance and oversight of your own company – HUOH.  HUOH is different than commercial carriers motivated by profit.  Independent actuaries will bring data directly to the board of practicing HUOH doctors you elect.  This board will be comprised of your peers, ( Ohio doctors insured by HUOH, and who are impacted by rate changes just as you are).  No rate changes will be approved without the direct oversight and review of your board.

And remember, HUOH is non-profit.  So, there is no load in the premiums for profitability.  Over time, if it turns out that the HUOH claims history is better than expected and excess premiums accumulate, there is only one place the excess premium can go – back to the insured/owners of the company.  Any return of premium, reduction of future premium, or dividends must be approved by your elected board and the Ohio Department of Insurance. 

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