IronHealth, the specialty healthcare unit of Ironshore, has enhanced its healthcare professional liability (HPL) insurance product, increasing limits to $50 million and broadening the scope of coverage to address the emerging exposures healthcare organizations are facing in a post-healthcare reform environment.
IronHealth’s enhanced HPL coverage can include individual limits for employed or affiliated physicians and, in the case of hospitals themselves, address any managed care exposures within their systems to protect against heightened exposure inherent with value-based contracts.
Along with enhancements to the HPL coverage, IronHealth has also augmented the services it provides HPL insureds. When underwritten as a primary or lead excess HPL policy, where the insured has a self-insured retention, IronHealth can assume responsibility to report on behalf of the policyholder by serving as a medical mandatory insurer reporting (MMIR) agent to ensure seamless accountability in the self-insured portion of a claim.
In addition, IronHealth’s existing HPL program provides each insured with a stipend that can be used for the purchase of risk management products and services from their providers of choice. The enhanced HPL product also allows an insured to use its “risk management stipend” to defray the cost of data analytical resources related to certain quality and safety initiatives.
“Unrelenting financial pressures, combined with healthcare reform, have triggered tremendous change in how healthcare providers and payors are organized to effectively deliver and finance quality patient care,” said Matt Dolan, president of IronHealth.
“Recognizing what clients face in this evolving healthcare environment, IronHealth will offer responsive capacity along with innovative liability insurance solutions and services.”
IronHealth, Ironshore, Matt Dolan, Professional Liability Insurance, US
