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ronshore 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.
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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.
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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