Hospital Professional Liability Insurance
Hospital Professional Liability Insurance provides coverage for any Loss that the insured is legally obligated to pay as a result of any covered claim for a professional services wrongful act. The definition of professional services typically includes medical services, good Samaritan acts, proctoring services, the activities of an insured as a member of a board or committee of the named insured, or as a member of any committee of the medical or professional staff of the named insured, when engaged in peer review or utilization review, the activities of an insured as a member of a formal accreditation, standards review or similar professional board or committee, including executing the directives of such board or committee, or reviewing the quality of medical services or providing quality assurance on behalf of the named insured.
Primary limits for hospital professional liability are typically structured with standard limits of $1 million per claim, $3 million annual aggregate. General liability and Employee Benefits Liability are often included. Some underwriters are willing to structure multiple limit towers for professional liability, and general liability. Many primary insurers offer Excess polices with Umbrella Liability coverage at very high limit capacities, and can provide facultative reinsurance on excess placements.
Many hospital professional liability insurance policies include coverage, which could be a differentiating factor for hospitals. Some examples are as follows:
- Broad definition of Claim and incident trigger
- Defense outside the limits of coverage as part of the policy form
- Punitive damages coverage; most favorable venue affirmation where permitted by law
- Affirmative vicarious liability coverage under Professional Liability for Medical Services by non-employed practitioners
- Child abduction coverage
- Automatic coverage for newly acquired or created entities, typically limited to 30 – 60 days
- Broad definition of Insured to include employed physicians, volunteers, students, locum tenens, and interpreters working with the provision of Medical Services
- Advertising coverage, including internet and other electronic communications
- Evacuation Expense Reimbursement for unplanned evacuation of patients
- Legal/Media Expense Reimbursement
- Child abduction coverage
Risk Management and Patient Safety Services
Each medical professional liability company offers a varying degree of risk management and patient safety services tailored to the hospital’s specific needs. This can also be a differentiating factor between insurers.
Fill out and submit the contact form on this page, or call Oros Risk Solutions today at 1-866-596-3859 to arrange to speak with one of our knowledgeable specialists about Hospital Professional Liability Insurance.