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 FY 2008 Examples of how the surcharge rating system will be applied by your basic professional liability insurance company for Fund compliance periods beginning on or after July 1, 2007
Example I
A General Surgeon, with $800,000/$2,400,000 Fund Coverage Limits:
The Fund Class Group 8 would be applicable to this doctor. From the Surcharge Payment Table III (the Fund’s highest coverage limits) the correct Fund payment amount can be located on the line titled Fund Class Group 8. In this example, the doctor has been complying with the Fund since January 1, 1982 and the surcharge amount will be in the “5 or More Years” column ($6,702) for this doctor’s January 1, 2008 renewal policy.

 
Example II
A Family Practice Doctor, no surgery, with $300,000/$900,000 Fund Coverage Limits:
The Fund Class Group 2 would be applicable to this doctor. From the Surcharge Payment Table II (the Fund’s middle coverage limits) the correct Fund payment amount can be located on the line titled Fund Class Group 2. In this example, the doctor has been complying with the Fund since May 1, 2005 and the surcharge amount will be in the “Fourth Year Of Fund Compliance” column ($1,226) for the doctor’s May 1, 2008 renewal policy.

Example III
A Chiropractor, with $800,000/$2,400,000 Fund Coverage Limits:
The Fund Class Group 12 would be applicable to this doctor. From the Surcharge Payment Table III (the Fund’s highest coverage limits) the correct Fund payment amount can be located on the line titled Fund Class Group 12. In this example, the doctor has been complying with the Fund for the first time on July 1, 2004 and the surcharge amount will be in the “Fourth Year Of Fund Compliance” column ($502) for the doctor’s July 1, 2008 renewal policy.

 

Example IV
A Kansas resident Family Practice Doctor, who also holds a license in Missouri with practice locations in that state with $800,000/$2,400,000 Fund Coverage Limits:
The Fund Class Group 2 would be applicable to this doctor. From the Surcharge Payment Table III (the Fund’s highest coverage limits) the correct Fund payment amount can be located on the line titled Fund Class Group 2. In this example, the doctor has been complying with the Fund since May 1, 1995 and the surcharge amount will be based on the “Five or More Years Of Fund Compliance” column, $1,724, PLUS the additional 25% Missouri practice surcharge factor ($431) for a total surcharge cost of $2,155 for the doctor’s May 1, 2008 renewal policy.

 

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