Healthcare Management Liability
By combining the expertise of management liability and healthcare teams, Beazley Group has developed enhanced management liability coverage that is precisely tailored to the needs of healthcare organizations.
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The Beazley Remedy policy is highly flexible, enabling clients to select combined or separate limits under any or all of the four insuring clauses on an admitted or a surplus lines basis.
Product Features
- Directors and Officers Liability
- Affirmative antitrust language
- Failure to perform provider selection, credentialing or peer review activities
- Regulatory Liability
- Governmental return of funds claims including False Claims Act, Stark and anti-kickback allegations
- Civil fines and penalties coverage or defense only options
- Employment Practices Liability
- Flexibility in choice of counsel
- Broad definition of insured person including independent contractors, medical directors, staff physicians and faculty members
- Access to BeazleySure loss control services for employment practices clients
- Fiduciary Liability
Limits Available
- Up to $20M
Target Classes
- Hospitals, academic medical centers and long-term care facilities
Key Highlights and Enhancements
- Premier Amendatory Coverage Enhancement – Suite of coverage policy wording amendments added to all Premier member policies at no additional premium.
- Wage & Hour Defense Sub-limit – Defense expense sub-limit of $150,000 automatically included without the required wage & hour application at no additional premium.
- Automatic increased policy sub-limits without additional underwriting at no additional premium for the following:
- EMTALA: $1M (standard offering is $250,000)
- HIPAA: $1M (standard offering is $100,000)
- IRS Claims : $1M (standard offering is $50,000)
- Reduced Retention for Regulatory Defense Coverage – Regulatory Defense Retention will be reduced from the standard $1M retention. This reduction will be provided without additional underwriting at no additional premium.
- $500,000 sub-retention for Premier member insureds with under $1B in gross revenue
- $750,000 sub-retention for Premier member insureds with over $1B in gross revenue
- Claims Onboarding Call – Initial post-binding call with the Premier member insured, and a representative from Beazley claims to discuss claims handling, reporting, etc. This will allow the Premier member insured to gain a level of comfort with Beazley Claims Management.
- Access to BeazleySure – Service offered to D&O and EPL clients providing a number of employment and HR-related services.