Coverage for Insured
What Coverage Is Provided By The Fund?
The Health Care Stabilization Fund provides excess professional liability coverage for health care providers as defined by K.S.A. 40-3401(f). Defined health care providers are required to obtain a base policy from an insurer of not less than $500,000 per claim, subject to not less than a $1,500,000 annual aggregate. Kansas statute also requires defined health care providers to obtain coverage from the Health Care Stabilization Fund in the amount of $500,000 single judgment or settlement, subject to a $1,500,000 aggregate limitation.
Fund Coverage Limit Explanations
- Active providers or inactive providers (eligible for Fund tail coverage) are provided coverage for claims arising from services rendered while the provider was in compliance with the Fund.
- Kansas resident health care providers who are in compliance with the Fund are provided coverage for services rendered inside and/or outside the State of Kansas.
- Non-resident health care providers in compliance with the Fund are provided coverage for services rendered in Kansas.
- The Fund coverage limit is based upon when the incident occurred, not when the claim was made or the suit was filed.
Is Excess Professional Liability Insurance Beyond Fund Coverage Needed?
Excess professional liability insurance beyond the Fund coverage limits is an individual decision made by each health care provider and is available from most basic professional liability insurance companies. The excess professional liability insurance is usually provided on a claims made basis and health care providers should give careful consideration to the associated premium costs, including the cost of the excess policy’s “tail” coverage.