Five Star Healthcare, a division of Crump Insurance Services, has added an insurance facility to provide coverage for managed care service providers.
The product consists of a single-policy solution providing multiple coverage options. Available coverages include miscellaneous E&O, directors & officers coverage, fiduciary, privacy and network security, media E&O, employment practices liability and technology E&O. Coverage can be written as standalone or in combination with separate or aggregate limits.
“A managed care solution is of primary importance to clients of our Healthcare Practice,” said Dave Obenauer, president of Crump P&C. “We are starting to see ripples of change in the professional lines industry with regard to appetite.”
Torus Specialty Insurance Co. and Torus National Insurance Co. will back the coverage for eligible managed care service providers. Some of the targets include organizations such as independent physician associations, physician’s hospital organizations, managed care organizations and administrative service organizations.
“The expertise available from both companies is very complimentary,” said Michael Phillips, senior vice president of the Torus’ Commercial Errors & Omissions Division. “Knowledge of the healthcare industry in general and insurance coverage available is unique within 5Star. Combining that expertise with the ability to underwrite and distribute specialty products, makes 5Star a key strategic partner for Torus and enhances the market capabilities for the managed care program.”
A major highlight of the program is its broad Description of Operations Endorsement, available only through 5Star Healthcare. The Managed Care Program is available nationwide with low minimum premiums and deductibles.
This is the third program in a line of healthcare products for Five Star. The company also provides coverage for senior living programs and for kidney dialysis centers.
The California-based Five Star works with licensed and insured retail property and casualty agents and brokers.