Steadily rising costs have meant big changes in the healthcare industry, and cost containment has become a primary concern. Consequently, more services are being provided outside of a hospital setting and/or by non-physician practitioners, increasing the type and number of jobs available in the healthcare sector. The rapidly growing medical opportunities include a wide range of disciplines, including nurse practitioners, physicians’ assistants, laboratories, nurse anesthetists, imaging centers, surgi-centers, miscellaneous specialty clinics including medical spas, practitioners of alternative or complementary modalities and many more.
But greater opportunity means a higher risk of liability, and allied healthcare professionals and organizations need to protect themselves against increasing exposures with good quality professional liability insurance.
- Flexible coverage for allied healthcare organizations and professionals
- Physicians and dentists can be added as insureds
- Combined professional/general liability policy available
- Incident Sensitive Coverage Trigger
- GL may be written on a claims-made or an occurrence basis with
- claims-made professional coverage
- Sexual Abuse/Molestation coverage available on most classes
- Defense Outside the Limit of Liability available on most classes
- Excess coverage available on most classes
- Written through an affiliated A.M. Best “A” (Excellent) rated carriers
Underwriters consider a variety of factors when selecting risks in the allied medical arena. In addition to the size of the organization, they will consider what type of professional staff is employed; whether the staff is comprised of degreed or certified professionals such as Registered Nurses (RNs) and Licensed Practical Nurses (LPNs) or whether the staff is primarily composed of non-degreed employees. They will also consider factors such as the number of patients that visit per year, the type of activity the company conducts, and how risky the activity is. Additionally, underwriters will assess the revenues and expected receipts of the provider, as well as the type of risk management controls the company has implemented. Generally, the more risk management controls that a company has in place, the lower premiums will be.
Typical exposures include allegations that the company provided services beyond the scope of care; inadequately performed an exam or procedure; failed to develop and follow protocols; or failed to consult with a supervising physician resulting in delayed diagnosis of a condition or even improper medication and monitoring — each of which could result in serious injury or death of a patient.