Verdict Inflation Protection (VIP)
With most Doctors choosing to purchase a $1,000,000 limit of insurance, Maryland's increasing non-economic damage cap has the unintended effect of eroding over time the amount of coverage available within the $1,000,000 limit to satisfy any economic damages that may be awarded following a trial. This can lead to the possibility of uninsured exposure factoring into a Doctor's comfort level as to whether to defend his or her care, even on cases with limited economic damages.
MEDICAL MUTUAL's new Verdict Inflation Protection (VIP), provided at no extra charge to you, puts you in the position you have been historically- defending the quality of your medical care in lower economic value cases without concerns about your personal liability exposure above your $1,000,000 policy limit. VIP expands your policy to provide the non-economic damage amount of a judgment that you become legally obligated to pay in a suit in which the underlying economic damages do not exceed $250,000.
Under VIP, MEDICAL MUTUAL will pay the additional amount of the judgment up to $300,000 over your $1 million policy limit. A payment under VIP will not reduce your Annual Aggregate Limit. VIP is not Excess coverage. It is a coverage feature of your primary Medical Professional Liability Coverage. Limits and conditions apply.