Ironshore Hospital Professional Liability

AmWINS Brokerage of the Carolinas is pleased to announce a new Hospital Professional Liability Program for Premier members through Ironshore, an “A, XIV (Excellent)” rated carrier.

This program provides a more enhanced platform, flexibility to engage in lead excess, and the ability to provide additional value within a layered program. 

Ironshore recently launched “Leading Edge” policy form for Hospitals and Integrated Health Systems.

Premier Enhancements

Increased Budget for Risk Management Services

• Risk Management Dollars – 5% of premium for Premier member hospitals. The standard offering is 2% premium.
• Outsourced Risk Services – this program uses preferred vendor relationships with risk service providers.
• Funds can be utilized for various efforts such as ASHRM Scholarships, ECRI Subscriptions, IT Data Analytics, Education, etc.

Premier Exclusive Endorsement

• All coverage endorsements have been increased to $50,000 for Premier hospitals from the standard offering of $25,000.
  • Evacuation Expense: $50,000
  • Public Relations Expense: $50,000
  • Disinfection Expense: $50,000
  • Abduction: $50,000
  • Personal Information Protection Expense: $50,000
  • Medical Waste Civil Fines: $50,000
  • Legal Defense Expense: $50,000
  • Infectious Disease: $50,000
  • Electronic Medical Record (EMR) Extortion Payment: Options: $25,000 with 25% co-Insurance, or $50,000 with 50% co-Insurance.
• All coverage parts will include a $5,000 SIR with the exception of the EMR Extortion.

“Leading Edge” Coverage Highlights

• Emerging Infectious Disease Business Interruption Insurance
  • Up to $3M of additional limit to cover loss of Business Income as a result of an Infectious Disease event (e.g., Ebola) at the insured facility
  • Expiration of the Policy Period will not cut short the Coverage Period for this coverage

• Government Regulatory Billing Errors & Omissions Insurance
  • $1M of additional limit to defend against regulatory billing claims brought by the government
• Managed Care Errors & Omissions Coverage
  • Included in the definition of Professional Services to cover a health care entity’s vicarious liability exposure resulting from its involvement in value based contracting and new post ACA shared savings/risk arrangements
• Full Sexual Abuse Coverage
• Broad Related Claims Language
• World-Wide Coverage
• Charitable Services Professional Liability Coverage
  • Up to $1M of limit for insured individuals who provide charitable medical services anywhere in the world