Liability Insurance for Hospitals & Healthcare Systems
As specialists in healthcare liability, we are well versed in the risks faced by hospitals and healthcare systems and how to properly structure coverage solutions that are tailored to your specific needs. We also understand that quality improvement and cost efficiency is paramount in the environment of healthcare today. As hospitals continue to integrate into larger systems, we can help you with primary insurance solutions for your stand-alone facilities.
We can also help you by structuring primary insurance programs for your employed or contracted physicians that include vicarious liability protection for the hospital system, unlimited defense costs, and meaningful physician targeted patient safety programs. Our capabilities in Alternative Risk Financing can help structure hybrid solutions combining traditional insurance along with commercial insurance so you can share in the risk and smooth out the ups and downs of the insurance market.
Simply put, we want to help you improve your insurance program and associated costs. However, we prefer to do so without sacrificing coverage, financial security, and performance of the insurance company in protecting you in court. Quite frankly, our goal is to work with you over time to achieve the optimal balance between quality and the cost to transfer risk over the long time horizon; because your assets and reputation are on the line.
The insurance and consulting solutions that we offer Hospitals and Healthcare Systems include the following:
- Hospital Professional Liability Primary Limits
- General Liability, Employee Benefits Liability
- Excess Liability, Umbrella
- Cyber Liability (data and network security)
- Loss Portfolio Transfers
- Stand-alone non-hospital facility primary coverage
- Primary Coverage Programs for Employed Physicians, contracted, or independents
- Directors & Officers Coverage
- Fiduciary Liability
- Employment Practices Liability
- Workers Compensation Insurance
- ERISA Bond
- Fidelity Coverage (crime)
- Business Automobile Coverage
- Alternative Risk Financing Consulting
- Fee based Insurance Consulting
It’s about expertise and service. As specialists, we use our knowledge and relationships to your advantage. We are available to work on a commission basis or a fee basis. We can put you in the best possible position when we bring you all your options from one source. When we negotiate quotes with all insurance companies under consideration, we receive commissions no matter which decision you make. Therefore, our work for you becomes more about the consulting and less about someone trying to sell you something. We help you gain an understanding of the differences between options that are meaningful to you. Ideally, we strive to create an environment of unbiased advice, focusing what is best for you. Going forward, we employ a world class service model built on consistently meeting or exceeding your expectations.
Our process includes learning about your current circumstances and needs, educating you on the results of our evaluation including potential solutions, and implementing a mutually agreed upon solution. We believe all clients deserve regular communication, proactive notice of cost changes, prompt return of inquiries, and general appreciation for the opportunity to serve you. When appropriate, we customize service plans to a client’s specific needs which include elements such as market studies evaluating costs, insurer comparisons, annual education sessions, claims reviews, coverage analysis, and targeted risk management and patient safety programs.