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Ascent Underwriting has launched a professional liability product for allied health practitioners and facilities in the US.
Ascent is a specialist managing general agent underwriting on behalf of a number of Lloyd’s Syndicates.
The company's new Allied Health product includes a combination of comprehensive cyber cover, regulatory billings coverage and medical liability insurance for healthcare professionals under a single policy. In addition to professional liability exposures, the full product covers healthcare data protection risks and the business risks associated with non-compliance with HIPAA billing legislation.
The new product's development was led by healthcare underwriter Ben Wilson, who joined Ascent in 2017 to help expand the MGA’s specialist insurance offering for the industry. Ascent has a growing presence in the US healthcare market, including relationships with a large number of healthcare facilities and practitioners through its CyberPro and Regulatory Billings E&O products.
Gareth Tungatt, chief underwriting officer at Ascent, said: “The allied healthcare landscape is extremely varied, encompassing services ranging from hydrotherapy to home health and out-patient clinics. Each poses its own unique set of risks, so it is vital for any entity or practitioner to have robust and relevant insurance.
“We hired Ben to spearhead our development in the sector and his work on the product greatly enhances our ability to meet client needs, by offering three key coverages on a single form. This is the first of several new products we have in the pipeline following significant private equity investment in November.”
Ascent underwriting, MGA, Expansion, Allied Health product, Gareth Tungatt, Ben Wilson, US