ProAssurance Corp. of Birmingham, Ala., has launched a new suite of excess insurance coverages, ProAssurance Complex Medicine, or ProCxM, for large healthcare facilities and organizations.
This new package of coverages and related services will allow the company to respond more effectively to the risks faced by organizations that are retaining more of their own risk as they evolve to the meet the needs of the nation’s emerging healthcare delivery system.
ProAssurance is working with Pro-Praxis, a newly-formed underwriting agency specializing in addressing the unique risks associated with the healthcare industry. An arm of the Cooper Gay Swett & Crawford Group (CGSC), Pro-Praxis will provide ProAssurance with its proprietary underwriting analytics and will assist in developing complementary insurance products to bolster the coverages required by the target organizations.
The ProCxM (pronounced “proxim”) suite is available immediately and can be accessed through ProAssurance’s normal underwriting channels. Policy limits of up to $35 million will be available through the program, with ProAssurance providing up to $25 million of coverage and additional limits are available through Pro-Praxis.
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