Darwin Offers Liability Insurance for Managed Care Firms

March 10, 2008

Darwin Professional Underwriters, Inc. has introduced a multi-coverage corporate liability insurance product for managed care organizations.

In a single policy, Darwin has integrated the following coverage parts:

Professional services errors and omissions (E&O) liability
Directors and officers (D&O) liability
Employment practices liability (EPL)
Fiduciary liability
Media liability
Network security and data privacy

Darwin says the policy is the first of its kind; it offers coverage for the wide scope of professional services that managed care organizations provide. Examples of the policy’s features include supplemental coverage for privacy breach notification and credit monitoring costs, no exclusions for regulatory claims, antitrust, bankruptcy, or electronic data processing, and coverage for loss of medical and non-medical personally identifiable information, including Health Insurance Portability and Accountability Act (HIPAA) fines, fees, and penalties.

The policy offers duty-to-defend coverage on an excess and surplus lines basis, with standard terms that include punitive damages coverage (most favorable venue), third-party liability, final adjudication coverage, and a range of other distinctive features.

The managed care corporate liability policy also includes a risk management program that educates policyholders in loss prevention planning.

Managed care service providers eligible for coverage include, but are not limited to, independent physician associations (IPAs), physician hospital organizations (PHOs), administrative service organizations (ASOs), case and disease management providers, credentialing verification organizations (CVOs), management service organizations (MSOs), peer review service organizations (PRSOs), rental network entities, third-party administrators (TPAs), and utilization review organizations (UROs) with $25 million or less in annual revenues and with limits of up to $5 million available.

Source: Darwin Professional Underwriters, Inc.

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