The following is a list of frequently asked questions (FAQs). To read the answer to each question, please click on the question.
Questions:
When does APAC send out a Memorandum of Insurance?
For clinic policies, a generic To Whom It May Concern Memorandum is included with the insured's policy that is sent to the agent after we receive the order to bind coverage. The memoranda for hospitals are mailed about 30 days prior to the renewal date. For solo policies, the memoranda for hospitals are mailed about 30 days prior to the renewal date.
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Will a physician joining an APAC clinic be automatically approved?
No. All additions are subject to Underwriting approval.
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How much time does an APAC insured have to purchase the Extended Reporting Period (tail) endorsement?
The tail endorsement election window is 30 days after the date we mailed the notification or the time remaining to policy expiration, whichever is greater.
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Are non-standard doctors eligible for free tail coverage like standard policyholders?
No. But if they are converted to a standard policy, the time spent in non-standard can be incorporated into their standard prior acts. That time would be included in their free tail eligibility.
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When is payment due on APAC policies?
The first installment of a clinic policy is due within 10 days of the effective date. The payment on a solo policy is due on or before the effective date. If payment is not received, coverage for all policies is voided as of the effective date.
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Does APAC accept premium financing?
No. However, APAC offers a variety of payment options. Contact our Underwriting Department for further details.
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Will APAC accept credit card payments?
No, but APAC offers a variety of other payment options. Please contact our Underwriting Department for further details.
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Will APAC pick up out-of-state exposure for prior acts?
APAC will consider exposure outside of Florida if the doctor practiced in states where APAC is actively writing coverage.
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If a doctor leaves a clinic that has a separate corporate limit, will that entity still be covered for that doctor's actions?
Yes, as long as the separate limit is maintained. There is no charge.
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