Hiscox said it has added new coverage options to its insurance policy for U.S. businesses in the mental health industry. Willis Towers Watson developed a new product that provides finance and risk management to build the resilience of ecosystems and the communities they support.
Hiscox added new coverage options to its insurance policy for U.S. businesses in the mental health industry.
Hiscox PRO Outpatient Mental Healthcare Professional Liability offers specialized benefits for mental health professionals tailored to cover emerging risks in the allied healthcare field. Coverage will apply to claims involving a variety of areas and treatment options.
Medical directors, non-physician employees, independent contractors, students, volunteers (including mid-level providers), and employed or contracted physicians by endorsement are also included as insureds and receive key benefits.
The Hiscox PRO Outpatient Mental Healthcare Professional Liability offering can be combined with other insurance products, including general liability, technology E&O, and crime and privacy, to create packages of coverage for each individual business’s needs.
Willis Towers Watson has developed the Global Ecosystem Resilience Facility (GERF), a product that provides finance and risk management to build the resilience of ecosystems and the communities they support.
Drawing upon expertise across Willis Towers Watson with scientific partners and leading risk carriers, the GERF will help respond to growing marine and other ecosystem risks with analytics that help incentivize environmental stewardship and offer “innovative insurance protection to mobilize development finance,” the company said.
Initial work of the GERF focuses on the protection of ecosystems such as coral reefs, mangroves and seagrasses in the Caribbean to support resilience of fishing communities at threat from hurricanes and coral decline, it said.
The GERF will incentivize ecosystem stewardship and asset maintenance through risk finance, WTW said, explaining that insurance programs will be structured to encourage risk understanding, assessment, and the coordination and pre-planning of swift post-event recovery.
Sources: Hiscox and Willis Towers Watson