Travelers New Product Targets Medium-Sized Health Care Firms

November 3, 2009

Travelers Insurance Co. is targeting a new product toward what it says is a growing market: The insurance needs — other than medical malpractice — of medium-sized health care firms.

The new product, which will be sold through independent agents and brokers, is part of Travelers IndustryEdge family, and integrates coverage combinations tailored to insurance exposures of health care organizations.

“Packaging together our innovative insurance coverage and service offering for healthcare organizations into an IndustryEdge product allows us the opportunity to better serve clients within the industry and to continue to grow the business,” said Matt Hudnall, Healthcare Industry Director for Travelers Commercial Accounts. “The IndustryEdge product for Healthcare Organizations provides customers with specialized coverage, industry-specific underwriting, risk control analysis and dedicated claim service tailored to the nuances of today’s healthcare industry.”

Hudnall said the product is targeted to:

  • Outpatient facilities, including medical offices, clinics, laboratories, diagnostic centers and, in most states, ambulatory surgical centers. Available products include specialized coverages for property, automobile, general liability, umbrella and workers compensation.
  • Inpatient facilities, including hospitals, nursing homes and other elder-care facilities. Available products include specialized coverages for property and automobile.

Specifically, the IndustryEdge product strengthens Travelers’ product suite with tailored coverages, including: property (emergency evacuation expense and personal property of patients and residents); inland marine (coverage for mobile medical diagnostic imaging equipment); and automobile (coverage for hospital ambulances, passenger transportation and garagekeepers legal liability.)

Source: Travelers

Was this article valuable?

Here are more articles you may enjoy.