ACE Westchester Professional Risk Expands E&O Endorsement for Non-Traditional Medical Risks
August 26 2015 - 6:11PM
Business Wire
• Endorsement Responds to Non-Covered Risks Faced by Select
Medical Facilities
Given the rapidly changing nature of the healthcare market,
there is an increased need for advances in medical liability
coverage to address risks not typically covered by medical
professional liability policies. Recognizing these potential gaps,
ACE Westchester, the excess and surplus-focused business of ACE
Group, today announced a new errors and omissions (E&O)
endorsement designed to help medical organizations manage certain
non-traditional risk exposures. This E&O expansion further
extends ACE’s existing offerings in the medical risk arena, and
leverages their in-house expertise and first-class experience in
the excess and surplus sector, by designing uniquely-tailored risk
solutions for non-traditional medical facilities.
“ACE Westchester’s longstanding expertise in the excess and
surplus market positions us to better address the emerging risk
exposures of miscellaneous medical facilities and healthcare
organizations,” said Randi Goldberg, Vice President, ACE
Westchester Professional Risk. “We understand specialized providers
of healthcare want to work with an insurer that can provide
customized enhancements for their medical professional liability
policies.”
This new enhancement is available to all ACE Westchester Medical
Risk policyholders. Key highlights of the E&O expansion
include:
- Ability to personalize endorsement for
individual insureds with exposures that could include an amendment
to the definition of healthcare professional services
- Capacity to add financial loss
coverage
- No minimum premium
- For small allied businesses this
enhancement may be available at no charge
Targeted classes of healthcare providers and medical
organizations include, but are not limited to:
- Medical Staffing Agencies
- Home Healthcare Agencies
- Hospice Facilities
- Medical Consulting Groups
- Workplace and Safety Consulting
- Adoption and Foster Care Agencies
- Life Sciences Organizations
- Medical Technology Firms
“Product enhancements such as this demonstrate the flexibility
and creativity at ACE in custom tailoring solutions for our
insureds,” added Ms. Goldberg. “Furthermore, this approach plays to
our unique capabilities and strengths of combining both medical and
professional risk expertise.”
For more information about ACE Westchester’s range of products
and services, please click here.
About ACE Group
ACE Group is one of the world’s largest multiline property and
casualty insurers. With operations in 54 countries, ACE provides
commercial and personal property and casualty insurance, personal
accident and supplemental health insurance, reinsurance, and life
insurance to a diverse group of clients. ACE Limited, the parent
company of ACE Group, is listed on the New York Stock Exchange
(NYSE: ACE) and is a component of the S&P 500 index. Additional
information can be found at www.acegroup.com, or follow ACE on
Twitter, https://twitter.com/ACEGroupNA.
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version on businesswire.com: http://www.businesswire.com/news/home/20150826006214/en/
ACE GroupCarla Ferrara,
215-640-4744carla.ferrara@acegroup.com
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