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American Zurich Insurance Company - Medical Malpractice Rate Filing

Thursday, October 22, 2009

Zurich is filing to add a new program. We would like to begin marketing a Medical Professional Liability policy as part of our Ambulance program. This new program will use proprietary rates and follow ISO rules. We are filing: 1. Base Rates at 500/1500 2. Rule 9 – Additional Premium 3. Rule 10 – Return of Premium 4. Rule 16 – Basic Limits 5. Rule 17 - Increased Limits Factor Table 6. Rule 20 – Volunteer Endorsement 7. Rule 28 – No Reinstatement 8. Schedule Rating 9. Additional Rule - Other Premium Modifications 10. Additional Rule – Company deviations We are filing rates, with volume discounts as the number of units on an account increases. This reflects expense savings on our end and the expectation that larger fleets are more likely to implement formal loss control programs. Size considerations prompted a grading of the unit rate by number of units. Larger accounts will receive a discount off the per unit base rate. Schedule rating will be used to more accurately rate accounts with slightly better or slightly worse risk than the average account. In determining our proposed rate, we used Empire Fire and Marine’s approved rates (our affiliated company) see SERFF filing#: ZURC-125631022 approved 10/7/08.

Status: Closed-APPROVED
Effective Date: 4/1/2010

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