FAQs

Q.What is the difference between tail coverage and nose coverage?
A.Tail coverage, which is purchased at the time a claims-made policy terminates, offers coverage for incidents that occurred while the policy was still active, but which were not actually reported until after the policy terminated. Nose coverage covers claims first made against the physician after the effective date of coverage on the NMIC policy. To be covered, such claims must arise out of the physician's acts or omissions prior to the NMIC policy's effective date and after its retroactive date. (Both dates are shown on the Coverage Summary page of your policy) A final note: Nose coverage is also known as retroactive coverage or prior acts coverage.

Q.What are NMIC's guidelines for providing nose (retroactive) coverage to physicians?
A.The following are needed for NMIC to consider providing nose coverage. First, there will be no gap in a physician's coverage if NMIC does provide it. Second, NMIC received a current certificate of insurance or a declarations insert from the most recent claims-made insurance carrier. Third, NMIC reserves the right to decline nose coverage outside of Nevada. Our coverage excludes prior known incidents that are reasonably likely to become a claim. These need to be reported to your current carrier.

Q.Can I obtain nose coverage if I already have a gap in my coverage?
A.Currently, NMIC does not offer nose coverage to physicians whose coverage has been interrupted- i.e., there exist a period during which the physician had no insurance coverage.

Q.Will NMIC provide nose coverage to physicians who were insured by a group that failed to purchase tail coverage?
A. That depends on how the physicians were covered by their previous group. For more information, contact a NMIC representative.

Q.Does NMIC offer workers' compensation coverage?
A.No.

Q.Does NMIC cover physicians who are not members of a medical society?
A.Yes.

Q.How soon can my application for coverage be approved by NMIC's Underwriting department?
A.Usually, an application can be reviewed within a couple days; however it all depends on how complete the application is, whether the physician has a claims history, and if there is a need for a background check by NMIC.

Q.How does NMIC rate its policyholders?
A.NMIC rates physicians by medical specialty, geographical territory, retroactive date (if applicable), limits of liability and severity of claims history (if any).

Q.What billing options are available?
A.Although most of NMIC's policyholders are on a quarterly billing cycle, the option to pay on a semi-annual or annual basis is available as well.

Q.Does NMIC accept credit card payments?
A.NMIC only accepts checks, money orders, or wire transfers for payments of premiums.

Q.If I become unemployed, will NMIC suspend-rather than cancel-my coverage?
A.Unfortunately, NMIC cannot temporarily suspend coverage. If NMIC does not receive premium, the policy will be canceled for nonpayment.

Q.Can I apply directly to NMIC?
A.Absolutely, however you will eventually be assigned to a NMIC appointed agency.