ACE Expands PL Insurance Products to Address Hospital, Physician Integration

April 15, 2013

ACE USA’s Medical Risk Group has introduced a range of physician professional liability insurance products and coverage options in support of hospitals and healthcare facilities for their employed physicians, and their owned or affiliated medical groups.

Product offerings include companion primary physician professional liability policies, fronting capabilities for primary physician professional liability policies, reinsurance of physician professional liability policies issued by healthcare facility captives, and integrated hospital and physician insurance program designs that may include separate or shared retentions and policy limits.

The physician professional liability insurance coverages are available for hospitals, healthcare facilities and accountable care organizations (ACO) providing insurance or alternative risk financing options to their employed physicians, or owned or affiliated medical groups.

Product highlights of the companion primary physicians professional liability policy* include:

  • Separate limits of liability each physician and corporate entity
  • Defense expense in addition to policy limits
  • First dollar coverage (no deductible) or deductible options
  • Individual tail coverage or group rolling tail coverage for departed physicians
  • Consent to settle provision
  • Professional legal & audit defense coverage
  • Full claims capabilities to support companion primary physician primary policies

*This coverage is currently not available for stand-alone medical groups that are not owned by or affiliated with an ACE insured hospital or healthcare system.

ACE Medical Risk Group, a division of ACE USA, provides primary and excess medical professional liability for hospitals, miscellaneous healthcare facilities, and managed care errors and omissions coverage. In addition, ACE offers products-completed operations liability for clinical trials, biotechnology, and specialty pharmaceutical companies, as well as a package policy that includes property, auto and crime coverages through its Life Sciences unit.

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