New York, NY (February 8, 2016) – Global insurance brokerage and risk management firm Integro Ltd. today announced the introduction of an exclusive Professional Liability / Errors and Omissions insurance coverage designed to protect healthcare institutions with self-insured professional liability programs from claims handling exposures inherent in adjusting medical malpractice claims.
“We have seen a proliferation of litigation activity against Healthcare clients and their claims staff,” said Ruth Kilduff, leader of Integro’s Healthcare practice. “The precipitating factor quite often is that an individual defendant may not have sufficient limits available. Such defendant may then bring a claim against the entity that handled the claim.”
The new product – with limits of up to $5 million in the aggregate – offers protection for healthcare entities and its claim staff against claims alleging bad faith, deceptive claims practices and failure/negligence in providing professional services of claims handling, adjusting and underwriting.
Healthcare entities at risk include those that are:
- Self-insured to some degree for professional liability, regardless of the form of the self-insurance (e.g., trust, RRG, captive).
- Self-administering its claims and /or underwriting program. In most instances, the healthcare entity has an employed claims staff, often a claims committee and often an underwriting committee with written underwriting guidelines.
- Acquisitive. The merging of insurance programs may result in disjointed claims handling functions and philosophies and disparate limits.
- Providing coverage for non-employed or third party physicians and clinicians. Such organizations may often be viewed by its insureds as a true insurance company rather than a self-insurance program and, therefore, are more susceptible to allegations of bad faith.
Integro is an insurance brokerage and risk management firm. Clients credit Integro’s superior technical abilities and creative, collaborative work style for securing superior program results and pricing. The firm's acknowledged capabilities in brokerage, risk analytics and claims are rewriting industry standards for service and quality. Launched in 2005, Integro and its family of specialty insurance and reinsurance companies, some having served clients for more than 150 years, operate from offices in the United States, Bermuda, Canada, and the United Kingdom. Its U.S. headquarter office is located at 1 State Street Plaza, 9th Floor, New York, NY 10004. 1-877-688-8701. www.integrogroup.com
Betsy Van Alstyne