Ironshore disclosed its Mergers & Acquisitions and Tax unit updated its transactional liability product to cover healthcare sector-related regulatory risks. Kinsale Insurance Company’s Public Entity division have public official liability coverage ready for sale.
Ironshore said its Mergers & Acquisitions and Tax unit updated its transactional liability product to address regulatory risks in the healthcare sector.
There is now a single limit and single retention coverage policy to meet client demand for streamlined liability coverage for healthcare transactions. Capacity limits of up to $100 million are available for transactional liability risks, with extended limits for select circumstances, Ironshore said.
Ironshore’s M&A transactional liability coverage responds to breaches of representations and warranties to protect buyers in healthcare deals, including exposure related to the Federal False Claims Act, Stark Law, Anti-Kickback Statute, HIPAA/HITECH and other state-mandated healthcare laws. Comprehensive coverage for healthcare regulatory risk benefits insureds receiving a high percentage of revenue from government payers, including Medicare and Medicaid.
Ironshore’s M&A and Tax unit has leveraged the organizational expertise of IronHealth, the specialty healthcare unit, to underwrite healthcare transactions directly with a combined single limit agreement and retention level.
Kinsale Insurance Company’s Public Entity division is now offering public official liability coverage designed to provides for damages and defense costs for wrongful acts alleged against a public entity, an elected or appointed public official, or an employee.
Employment practices liability coverage can be included, or considered on a stand-alone basis, the Virginia-based specialty insurance group said.
These coverages are written on a non-admitted basis and a claims-made and reported coverage form with limits up to $10 million available. Other Kinsale public entity products include police professional liability and school board liability.
The Kinsale Public Entity Division targets hard-to-place or distressed accounts that may have poor financials, a troubled loss history or other tough characteristics. Target classes include: boroughs, cities, counties, towns and villages.
Sources: Ironshore, Kinsale Insurance Group