• Endorsement Responds to Non-Covered Risks Faced by Select Medical
Facilities
PHILADELPHIA--(BUSINESS WIRE)--
Given the rapidly changing nature of the healthcare market, there is an
increased need for advances in medical liability coverage to address
risks not typically covered by medical professional liability policies.
Recognizing these potential gaps, ACE
Westchester, the excess and surplus-focused business of ACE Group,
today announced a new errors and omissions (E&O) endorsement designed to
help medical organizations manage certain non-traditional risk
exposures. This E&O expansion further extends ACE’s existing offerings
in the medical risk arena, and leverages their in-house expertise and
first-class experience in the excess and surplus sector, by designing
uniquely-tailored risk solutions for non-traditional medical facilities.
“ACE Westchester’s longstanding expertise in the excess and surplus
market positions us to better address the emerging risk exposures of
miscellaneous medical facilities and healthcare organizations,” said
Randi Goldberg, Vice President, ACE Westchester Professional Risk. “We
understand specialized providers of healthcare want to work with an
insurer that can provide customized enhancements for their medical
professional liability policies.”
This new enhancement is available to all ACE Westchester Medical Risk
policyholders. Key highlights of the E&O expansion include:
-
Ability to personalize endorsement for individual insureds with
exposures that could include an amendment to the definition of
healthcare professional services
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Capacity to add financial loss coverage
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No minimum premium
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For small allied businesses this enhancement may be available at
no charge
Targeted classes of healthcare providers and medical organizations
include, but are not limited to:
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Medical Staffing Agencies
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Home Healthcare Agencies
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Hospice Facilities
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Medical Consulting Groups
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Workplace and Safety Consulting
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Adoption and Foster Care Agencies
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Life Sciences Organizations
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Medical Technology Firms
“Product enhancements such as this demonstrate the flexibility and
creativity at ACE in custom tailoring solutions for our insureds,” added
Ms. Goldberg. “Furthermore, this approach plays to our unique
capabilities and strengths of combining both medical and professional
risk expertise.”
For more information about ACE Westchester’s range of products and
services, please click here.
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty
insurers. With operations in 54 countries, ACE provides commercial and
personal property and casualty insurance, personal accident and
supplemental health insurance, reinsurance, and life insurance to a
diverse group of clients. ACE Limited, the parent company of ACE Group,
is listed on the New York Stock Exchange (NYSE: ACE) and is a component
of the S&P 500 index. Additional information can be found at www.acegroup.com,
or follow ACE on Twitter, https://twitter.com/ACEGroupNA.
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Source: ACE Group