Marsh has unveiled a new excess medical professional liability (MPL) policy form that combines industry favorable MPL terms and conditions into a single excess policy to be used by commercial insurers.
Developed by Marsh’s US Casualty and HealthCare Practices in conjunction with health care liability insurers, Marsh’s MedPREX form offers hospitals and health care providers broader and more favorable excess MPL coverage terms than what is generally available in the market, including a managed care errors and omissions coverage grant that is typically only available as a separate policy.
“Because the MPL market consists of dozens of excess policies each with different, yet valuable, terms and conditions, our clients are left to pick and choose or tack on multiple endorsements to obtain the broad coverage they seek,” said Dan Phillips, Marsh’s HealthCare Professional Liability Placement leader. “With MedPREX, we combine the beneficial elements of many existing MPL offerings.”
Marsh’s MedPREX policy form is currently in use by MedPro Group, a health care liability insurer, with other carriers expected to begin offering it shortly.
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