APMA News - February 2013 - (Page 51)

Insurance Advisor By William F. Munsey, DPM After the Disaster I have received a number of inquiries following Superstorm Sandy. Some podiatrists have lost their offices, and with them, the ability to make a living. Other podiatrists want to aid their fellow practitioners through this trying time. All have questions involving licensure and malpractice coverage. Similar concerns and questions were posed following Hurricane Katrina in 2005. While the location is different, the problems are similar, so a review of the questions addressed in 2005 should provide examples for today and a blueprint for action to be taken when future disasters occur. resume practice. Should I cancel my malpractice insurance policy because I will not be practicing during that period of time? QUESTION: We are in a multiple-doctor practice, and one of our doctors has requested a leave of absence for three months following the birth of her first child. Her absence could provide an opportunity for a displaced podiatrist to fill a need in our office and generate some immediate income. Our practice is in Texas, and the governor has declared a state of emergency that would permit a licensed DPM from another state to practice here for a limited time without a valid Texas license. What do we do about malpractice coverage? Editor’s comment: This policy remains unchanged. ANSWER: Malpractice insurance covers a specific doctor—not an office or location. Check with the insurance companies where both you and the displaced doctor have your insurance coverage. In 2005, Jerry Brant, DPM, who was president of the Podiatry Insurance Company of America (PICA) at that time, indicated that the insurance coverage would continue in the guest state without an additional premium. It is important that both doctors contact their respective insurance companies to inform them that a change in location is taking place. Editor’s comment: In 2005, the Texas Board of Podiatric Medical Examiners adopted Board Rule Section 371.18, to be effective immediately, providing for Emergency Provisional Licensure in the wake of Hurricane Katrina. This provision was unusual and probably will not be duplicated. For everyone involved, it would be best to have a formal proclamation from the medical board recognizing the other state’s license. Most “fill-in” doctors would not be from a different state. Ross Taubman, DPM, current president of PICA, confirms that insurance coverage would continue in the guest state without an additional premium. QUESTION: My office was completely under water following Hurricane Katrina. There is no surviving office space available to re-establish my office. It is estimated it will be at least 90 days before I can ANSWER: Assuming you have a claims-made insurance policy, cancellation of your policy would not be a good choice because you would lose coverage of any alleged malpractice that occurred but was not reported prior to cancellation of the policy. If you are insured by PICA, I have good news for you. PICA will continue your coverage while suspending your premium for up to the 90 days that you are unable to practice. QUESTION: What is the difference between a claims-made policy and an occurrence policy? ANSWER: The difference between the two policies rests in the period of time during which the claim is reported. With a claims-made policy, the claim has to be reported while the policy is in force, whereas with an occurrence policy, the claim can be reported at any time, even after the occurrence policy has expired. QUESTION: Fortunately, we carried ﬂood insurance that will pay to repair the office, but there is still lost income that will accumulate until I can make arrangements for temporary space. Could I have purchased insurance that would have covered that part of the loss? ANSWER: Business interruption insurance provides coverage for a forced office closure, such as that required following damage from a major hurricane. This protection could have been written as a part of the doctor’s property insurance policy. It normally pays for expenses to allow the insured to set up a temporary practice in an alternate location, or, if that is not possible, pays a set dollar amount to tide him or her over until repairs are completed. PICA does not write that type of insurance directly but does make it readily available through its partner company Proassurance. n Contact Dr. Munsey at wfmunseydpm@gmail.com. APMA News February 2013 51

Table of Contents for the Digital Edition of APMA News - February 2013

APMA News - February 2013
President’s Message
Table of Contents
Keeping Boots on the Ground: Podiatric Physicians in the Military
Catch Comedian Tom Cotter at The National Opening Session
Annual Meeting Sponsors
State Advocacy in Focus: Sowing Grassroots Advocacy
APMA Staff Celebrates 100th Anniversary with Time Capsule
Social Media 101: Strategies for Today’s Podiatrist
2012 Podiatric Practice Survey: Year of Graduation from Podiatric Medical College by Practice Arrangement Type
Reimbursement
Federal Advocacy Forum
APMAPAC Chair Report
IT Consultant
Website Wisdom
Small Business 101
Seeking Award Nominations
CPME Update
Resolutions Deadlines
Call for Abstracts
In Short
Worthy of Note
Call for Abstracts
List of Affi liated Organizations
Insurance Advisor
New Members
Death Notices
APMAPAC Update
Development Update
Classifi ed Advertising
Dates to Remember
Advertising Index
10 Questions
Your APMA
2013 Annual Scientific Meeting Preliminary Program

APMA News - February 2013