Berkshire Hathaway Specialty Insurance has said it is expanding its healthcare professional liability capabilities to provide customers with highly customized risk management support.
The company will now reimburse qualified healthcare professional liability insurance policyholders for the costs of pre-approved risk management services of their choice.
“We want to support our healthcare customers in achieving their risk management goals and addressing their unique challenges. That is why we are offering a risk management approach that is truly collaborative, enabling us to work with our healthcare customers and brokers to add meaningful value to our policyholders' operations," said Leo Carroll, senior vice president, Healthcare Professional Liability, at Berkshire Hathaway Specialty Insurance.
During the underwriting process, the company's underwriters engage customers and brokers in discussion of risk management goals. Once an opportunity to collaborate is agreed upon, customers can request reimbursement for many types of services, from clinical risk management support, to quality and patient safety initiatives – using the vendor of their choice.
The reimbursement value is in proportion to the Berkshire Hathaway Specialty participation on the insurance program.
“Our approach allows us to be flexible in providing support precisely where our customers ask for it, whether they want to expand the use of the risk management services they receive from their broker, or bring greater focus to assessing specific clinical risks," Carroll said, adding that his group has an appetite to insure a broad range of sophisticated healthcare providers.
Berkshire Hathaway, Berkshire Hathaway Specialty Insurance, healthcare professional liability, risk management
