Allied World Assurance Co. Holdings has begun marketing a professional liability policy focused on healthcare consultants and companies that provide consulting services to healthcare facilities. Berkshire Hathaway Specialty Insurance Co. now offers Financial Institution Professional Indemnity insurance in Asia.
Allied World Assurance Co. Holdings launched a new professional liability policy with coverage specifically designed to address risks health care consultants and companies face providing consulting services to healthcare facilities.
This comprehensive protection includes contingent bodily injury coverage specific to the exposures and needs of this diverse group. The policy allows for a customized definition of professional services based on the specific activities performed, according to Allied World, which is a subsidiary of Fairfax Financial Holdings Ltd.
In a statement, Christian Gravier, president, North American Professional Lines division, said that the insurer is seeing a big jump in the number of organizations being “tasked to assist hearlthcare facilities maneuver in the current, complex landscape.” While these conulstants aren’t necessarily actively diagnosing patients or directly delivering healthcare services, Gravier said, their activities have an impact on how medical care is delivered.
Berkshire Hathaway Specialty Insurance Co. now offers Financial Institution Professional Indemnity insurance in Asia.
The new BHSI policy is designed to cover a range of claims, from allegations of failure to disclose information, to misleading financial advice and breach of contracts, the company said in a statement. The policy combines coverage for civil liability, pre-investigations, mitigation expenses, bail bond costs, court attendance, loss of documents, and more.
The policy targets medium to large financial institutions, including securities dealers, regional banks, insurance companies, reinsurance companies, diversified institutions, and financial technology (fintech) and corporate advisory firms.
Source: Berkshire Hathaway Specialty Insurance, Allied World Assurance Co. Holdings