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Are there ACRO Member benefits?
Yes. ACRO members are eligible for special benefits in the NMP program due to their ACRO membership.
Do I need to invest capital in addition to my annual premium?
No. Unlike other RRGs, which can require a capital investment (ranging from 30% to 100% of a mature premium) in addition to annual premium payments, NMP has been formed as a mutual company which requires no capital investment from its physician insured members. Insureds pay annual premium payments only.
Will NMP write coverage over my prior acts (retroactive date)?
Yes. NMP will underwrite prior acts coverage when provided with evidence that the applicant has current coverage for the requested retroactive date and that such coverage is provided by a carrier acceptable to NMP.
Are extended reporting periods or "tail" policies offered?
Yes. A free tail policy will be provided to insureds through death, disability, or retirement at any age after having continually been insured with the Company for the previous five years.
Can doctor-members be held personally liable for any losses incurred by NMP?
No. NMP offers only non-assessable policies, which means that at no time will any member be liable for any losses incurred by the company.
My oncology practice employs a number of physicians, including medical oncologists. Can NMP provide coverage for the entire group?
Yes. NMP offers coverage for oncology related specialties, including medical oncology. NMP also provides corporate entity coverage with shared or separate limits.
How do I apply for coverage?
Contact us at info@nmpinsurance.com, or call 1 (888) 804-9556.
How does an RRG differ from an admitted carrier?
Traditional admitted insurance companies must be licensed and comply with the insurance rules of each state in which it operates. Usually such admitted carriers must file all their forms and rates for approval by each state insurance department. A RRG is created under a federal act and is required to be licensed only in its state of domicile. A RRG registers with but is not subject the insurance laws of any state except the state of domicile.
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