ISMIE Indemnity Company is a reliable and reputable medical liability insurance provider, you may want to consider .
In this blog post, we will review some of the key aspects of this company, such as its history, services, financial details, coverage, claims, and customer experiences.
By the end of this post, you will have a better idea of whether ISMIE Indemnity Company is the right choice for you.
ISMIE Indemnity Company is a subsidiary of ISMIE Mutual Insurance Company, which was founded in 1976 by a group of physicians who wanted to protect their profession from the rising costs and risks of medical malpractice lawsuits.
ISMIE Indemnity Company was established in 2017 to expand the company’s reach and serve more policyholders across the country.
According to the latest financial report, ISMIE Indemnity Company has a total of $135.6 million in assets, $55.9 million in liabilities, and $79.7 million in policyholders’ surplus.
The company has a market share of 0.06% in the US medical professional liability insurance industry, ranking 67th among 215 insurers.
Here is a table that summarizes some of the basic information about ISMIE Indemnity Company:
|Customer Service Contact
|(312) 782-2749 or (800) 782-4767
|20 N Michigan Ave Ste 700, Chicago, IL, 60602
|Medical professional liability insurance for physicians, surgeons, dentists, podiatrists, allied health professionals, medical groups, hospitals, and facilities
|Monday to Friday, 8:30 a.m. to 4:45 p.m. (Central Time)
Services & Products
ISMIE Indemnity Company offers a variety of services and products to meet the needs of different health care providers.
Some of the types of insurance offered by the company are:
- Auto insurance: This covers the liability and physical damage of vehicles owned or leased by the policyholder or the policyholder’s employees.
- Home insurance: This covers the liability and property damage of the policyholder’s residence or other premises used for business purposes.
- Life insurance: This covers the death benefit of the policyholder or the policyholder’s employees.
- Umbrella insurance: This provides additional liability coverage beyond the limits of the primary policies.
ISMIE Indemnity Company also offers international coverage for policyholders who travel or practice outside the US.
The company has partnered with Lloyd’s of London, a global insurance market, to provide this service.
When you pick an insurance company, you need to check how well it manages its money and how good it does in its business.
ISMIE Indemnity Company is good at managing its money and doing well in its business.
ISMIE Indemnity Company has fair and flexible prices, and you can pay every month, every three months, every six months, or every year.
The claim payout ratio of ISMIE Indemnity Company is how much of the money it gets from customers it pays back to customers who have claims.
ISMIE Indemnity Company has a comprehensive and customizable coverage that can suit the needs of different health care providers.
Some of the coverage details of the company are:
- Policy exclusions: These are the situations or circumstances that are not covered by the policy, such as intentional acts, criminal acts, sexual misconduct, contractual liability, or violations of laws or regulations.
- Coverage limits: These are the maximum amounts that the company will pay for a claim or a policy period, depending on the type and level of coverage. The company offers various options for coverage limits, ranging from $100,000 to $10 million per claim and from $300,000 to $30 million per policy period.
- Add-ons or riders: These are the additional features or benefits that can be added to the policy for an extra cost, such as cyber liability, regulatory defense, employment practices liability, or medical director liability.
The claims process of ISMIE Company is designed to be simple, fast, and fair.
The company has a team of experienced and dedicated claims professionals who handle each claim with care and expertise.
The company also provides policyholders with legal representation and support throughout the process.
The claims process of the company consists of the following steps:
- Reporting: The policyholder must report any incident, claim, or suit to the company as soon as possible. You can report either by phone, fax, email, or online.
- Investigation: The company will assign a claims representative to the policyholder. They will review the case and contact the policyholder for further discussion.
- Resolution: The company will work with the policyholder to determine the best course of action for resolving the claim.
The required documents for claims vary depending on the type and nature of the claim, but some of the common documents are:
- Medical records
- Incident reports
- Witness statements
- Correspondence with the claimant or the claimant’s attorney
- Any other relevant evidence or information
The customer experiences of ISMIE Company are generally positive and satisfactory.
Q: What is ISMIE Indemnity Company? A: ISMIE Indemnity Company is a subsidiary of ISMIE Mutual Insurance Company, which is the leading medical liability insurance company in Illinois.
Q: How can I apply for ISMIE Indemnity Company insurance? A: You can apply for ISMIE Company insurance by completing and submitting the appropriate application form, which can be found on the company’s website.
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