FAQs

Why did the South Carolina Medical Association create a medical malpractice insurance company? The SCMA wanted to stabilize the medical malpractice marketplace by creating a plan exclusively for SC physicians, governed by SC physicians.
Who owns the South Carolina Physician Assurance Company? SCMA owns 100% of the company.
Who governs Physician Assurance? A board of directors consisting of SCMA physician members and staff.
Who is eligible to purchase a policy? SCMA members who are licensed and practice medicine in SC.
What are the benefits of purchasing a policy from Physician Assurance? Stable premiums for the long term, strong claims defense and proven risk management.
Is risk management available? Absolutely. Mandatory risk management is a pillar of Physician Assurance.
What is the claims management philosophy of Physician Assurance? Cutting edge defense of claims preceded by stringent risk management and strong quality assurance.
Who defends policyholders in a lawsuit? A legal team selected by Physician Assurance with input from the risk management experts at Stevens & Lee.
Whom do I call if there is an incident or a potential claim? Stevens & Lee toll free 1-877-783-8533 or direct 1-717-399-6636.
Does Physician Assurance participate in the guaranty fund? No
Does Physician Assurance have reinsurance? Yes.
What limits are available? $1,000,000 per claim/$3,000,000 aggregate or $2,000,000/$4,000,000 aggregate.
Is the policy claims made or occurrence? Both are available.
Why are claims made policies becoming so popular? They are less expensive than occurrence. They are written more often nationwide than any other type of policy.
How is Physician Assurance capitalized? With capital from the SCMA and surplus contributions from policyholders.
Is a surplus contribution required? Yes. Policyholders must contribute surplus equal to 33% of their mature claims made or occurrence policy premium. The surplus contribution is 100% refundable, without interest, upon leaving the plan.
Where may I learn more about Physician Assurance or purchase a policy? SCMA Financial Services, Inc., a wholly-owned subsidiary of the SCMA, is the sole broker. Contact Stewart Samples at 800 327-1021 ext 406 or email Stewart.