ACE Medical Risk Group has launched an array of physician professional liability insurance products and coverage services to support hospitals and healthcare facilities for their employed physicians, and their owned or affiliated medical groups.
The product assortment comprises 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.
The company has also introduced a uniquely structured integrated hospital and physician insurance program that may include separate or shared retentions and policy limits.
Available for hospitals, healthcare facilities and Accountable Care Organizations (ACO), the physician professional liability insurance coverage offers insurance or alternative risk financing services to their employed physicians, or owned or affiliated medical groups.
ACE Medical Risk Group executive vice president Caroline Clouser said that the need to offer insurance services for hospital-physician integration has become a priority due to the increased economic pressures faced by hospital systems and Accountable Care organizations.
"We are pleased to be able to offer this expanded coverage to meet the growing needs of both hospitals and physicians to support the changing delivery of high quality healthcare," Clouser added.
The companion Primary Physicians Professional Liability policy offers separate limits of liability each physician and corporate entity, defense expense in addition to policy limits, first dollar coverage with no deductible or deductible options.
Further, it offers individual tail coverage or group rolling tail coverage for departed physicians, consent to settle provision, professional legal & audit defense coverage as well as full claims capabilities to support companion primary physician primary policies.
Operating as a division of ACE USA, the group delivers primary and excess medical professional liability for hospitals, miscellaneous healthcare facilities, and managed care errors and omissions coverage.
