Broad Regulatory Protection Policy
Due to the increasing vulnerability of physicians to regulatory investigations, OMIC has enhanced its Fraud and Abuse/HIPAA Privacy Policy for 2005. Now known as the Broad Regulatory Protection Policy, the new policy replaces the Fraud and Abuse/HIPAA Privacy Legal Expense Reimbursement Policy and extends coverage for billing errors and HIPAA privacy proceedings to include fines and penalties (where allowed by law) as a standard policy feature. Coverage also has been expanded to include legal expense reimbursement for Emergency Medical Treatment and Active Labor Act (EMTALA) claims. As a benefit of membership, OMIC purchases a $25,000 Broad Regulatory Protection Policy for each of its professional liability policyholders. Higher limits for this new policy are available at the same competitive rates charged for the previous Fraud and Abuse/HIPAA Privacy Policy. The Broad Regulatory Protection Policy is also offered for all members of the American Academy of Ophthalmology to purchase. To see this document, information about it and to download forms for increasing coverage, click here.
Revised HIPAA Business Associate Agreement
OMIC has revised its OMIC-Insured HIPAA Business Associate Agreement to comply with the HIPAA Security Rule. The Security Rule outlines the administrative, physical, and technical safeguards Covered Entities must use to protect patient health information that is maintained or transmitted in electronic form. The compliance deadline for the Security Rule is April 21, 2005. The HIPAA Privacy Rule, which took effect April 2003, required Covered Entities (most OMIC insureds) to make Agreements with their Business Associates that specified how protected health information was to be used and disclosed by the Business Associate. At that time, OMIC (a Business Associate of its insureds) gave each of its insureds a Business Associate Agreement that complied with the HIPAA regulations. The regulations now require that the Business Associate Agreement be updated to cover the Security Rule provisions. In order to assist our insureds, and so that OMIC need only maintain one agreement with all of its insureds, OMIC has updated the Business Associate Agreement it maintains between itself and all of its insureds. Click here to download a copy of the revised Agreement.
UPDATE/PROVIDE YOUR E-MAIL ADDRESS
In an effort to expand the use of electronic mail for more cost-efficient and timely policyholder communications, OMIC is collecting email addresses for all member-insureds. Like other contact information, email addresses will be kept strictly confidential and used solely for OMIC business purposes.
To update/provide your email, you must know your RISK NUMBER. Your risk number is on the declarations page and consists of two letters followed by five numbers e.g. CT4567. It is not your policy number which begins with OMC e.g. OMC0001234. If you cannot find your RISK NUMBER please e-mail your name to underwriting@omic.com.
If you know your RISK NUMBER and want to update/provide your e-mail, please click here.
