How does a shared limit policy work?
A shared limit policy is blanket coverage issued in the name of your company. This policy provides professional liability coverage for the business entity named on the certificate of insurance and any of the employees or independent contractors of the business entity provided they are ratable professions within our program. Also, coverage is provided for locum tenens (a healthcare provider who is serving as a temporary relief or substitute) with whom the business entity has contracted. The firm, and all eligible employees and sub-contractors you regularly employ in the firm, will be considered when determining your firm’s premium calculation and share the same coverage limits you select for the firm.
