Executive Risk Introduces Medical Professional Liability Covers

Executive Risk has launched its latest health care product: Medical Professional Liability Insurance. The product is comprised of two policies that can be purchased independently or in combination. The Health Care Organization and Providers Professional Liability (HCO PPL) policy is designed to protect various types of health care organizations, miscellaneous health care facilities, rehabilitation centers, home health care agencies, and outpatient surgery centers. Physicians Group Professional Liability coverage addresses the latest development in health care—physicians that are grouping together.

HCO and PPL coverage highlights include unaggregated policy limits; broad definition of named insured; broad definition of covered medical services; and comprehensive protection for peer review activities (including utilization review, quality assurance, and defense of alleged antitrust).

Physicians Group Practice Professional Liability highlights include defense costs in addition to limits of liability; defendant's reimbursement of necessary expenses and loss of time incurred (up to $500 per day and $12,500 per suit); and extended reporting period coverage for incidents that occurred while the policy was in force (but reported after the expiration of the policy).

Matthew Dolan, product manager for Medical Professional Liability Insurance, explains, "The Medical Malpractice Product completes the portfolio of professional liability products and services that Executive Risk now offers to the health care industry. The Medical Professional Liability products are written with a clear understanding of the complexities that today's health care organizations operate within."