Coverages

PROFESSIONAL LIABILITY

Medical Professional Liability Insurance

Often referred to as “Malpractice Insurance”, medical professional liability (MPL) covers healthcare providers and entities for errors and omissions (whether actual or alleged) that occur in the process of rendering professional services.  Coverage includes the liability associated with negligence resulting in bodily injury, medical expenses and property damage, as well as the legal cost to defend these claims.  Additionally, each carrier has a different philosophy when it comes to risk management, claims handling, and exclusions.  It is essential that you understand your policy language and what options are available.  J & R agency has over 20 years’ experience placing medical professional and businesses with MPL policies, as well as advising clients on risk management strategies and how to navigate the claims process.

Directors & Officers Liability Insurance

Healthcare organizations are experiencing increasing responsibilities to react to changing healthcare laws, acquisitions and procedural standards. The directors and officers of your organization can be held personally responsible for the decisions and actions of the organization. This means that their personal assets (homes, cars, bank accounts) are at risk.  Even a false claim cam be a financial drain to defend.  Allegations can be brought up by regulatory agencies, competitors, patients, shareholders and employees. J & R Agency can help you find coverage, so you can attract the best directors and officers by limiting their personal exposure and protecting the organization against security and employment claims.

Employment Practices Liability Insurance

Employment Practices Liability Insurance [EPLI] protect your organization against employment related claims, including: wrongful termination wage, discrimination, sexual harassment, retaliation, violations of the Family Medical Leave Act or similar state or local law, and breach of an employee’s federal, state, or local civil rights.  Healthcare facilities face specific risks such as protections provided under Title VII which protects healthcare facility employees from sexual harassment form residents and patients.  We work with insurance carriers that offer this 3rd party coverage for healthcare facilities, including nursing homes and metal health hospitals.

Fiduciary Liability Insurance

Healthcare organizations often have complex managerial structures which can increase the risk of mistakes being made, especially when the focus is more external (on patient services) and less on internal operations.  A fiduciary, or any employee who has discretionary authority over a benefit plan (or who assists in its administration) can be exposed to liability. Fiduciary Liability Insurance protects organizations from vicarious liability for the negligence of others within their control and for employees with fiduciary authority.

Billing Error & Omissions and Administrative Risk Insurance – There are several different entities that can audit healthcare professionals for billing errors or omissions, and virtually every healthcare entity has exposure for this growing risk.  Billing E&O covers for audit costs, potential fines and penalties, as well as related attorney costs.  Proceeding for HIPAA, Stark and EMTALA violations are also typically included in these policies.

BUSINESS LIABILITY

General LiabilityThe granddaddy of exposures for any hospital is the dreaded slip-and-fall and this is where general liability insurance shines.  An employee is mowing the lawn and kicks up a rock that breaks a window on a care, general liability is there.  Let’s say you lose a patient’s dentures; general liability is there.  You have an employed physician that goes to social media and mocks another doctors research; you guessed: it general liability is there.

Workers Compensation – In theory one of the simplest coverages but there are areas that can trip you up.  Do you include officers?  Do you include leased, contracted or volunteer workers?   How do you determine payroll for office employees?  How important is risk management to you?  This is where you need an agent to step in and explain the options and provide recommendations to make sure that you’re adequately covered.  Healthcare facilities are seeing more complex and emerging risks due to an aging workforce, patient handling issues and workplace violence.  J & R Agency places clients with work comp carriers that have programs designed for the specific risk that healthcare providers and facilities face. From needle sticks to serious injury, we understand the need to keep employees safe and returning to work as soon as is practicable.

Commercial Auto  Any time an employee uses their own vehicle or rents one for work trips or errands, the company is at risk.  A standard personal auto policy only provides $100,00 in liability limits.  If there is an accident while performing work duties and the personal liability limit is exhausted the injured party may turn to the employer for additional damages.  A Hired & Non-owned auto policy is essential for any business that may require employees to use their cars for work.

Cyber Liability – Healthcare is one of the most targeted industries for cyber-attacks.  Due to the amount of personal information, each patient’s medical file is worth 10 to 20 times the amount a credit card number demands on the black market.  Often consumers will assume coverage for a breach or exposure is covered in their general liability policy, but these policies usually provide inadequate or no coverage for cyber and data claims.  Cyber liability is complex and ever-changing as technology advances.  We can help explain the coverages and find a policy that suits your business’s needs.

Umbrella – One trend within the industry and specifically healthcare is that the severity of claims has been increasing.  The average limits that healthcare professionals carried years ago isn’t adequate today.  One way to protect some entities assets is to purchase higher limits of coverage.  Usually the professional line sees severity but with the umbrella you can have higher limits of coverage on auto, employer’s liability, employee benefits, or other liability lines of business.

BUSINESS PROPERTY

Commercial Property

This is a basic and typically broad coverage protects the property your business owns, leases or rents, including things like buildings, equipment, inventory, furniture and fixtures. It provides coverage for loss of accounts receivable and valuable papers and records.

Business Income Insurance

Business Income coverage helps replace income lost when a business is unable to operate due to a covered property loss such as damage from a fire, theft or wind.  If unexpected events cause a suspension in your operations resulting from a covered cause of loss, Business income insurance will help replace loss of income to help you meet your continuing financial obligations such as rent and payroll.

Inland Marine: Any property that’s mobile or transportable and goes beyond 1000 feet of your business isn’t covered by a standard property policy. This is where an inland marine policy steps in.  Exposures you should consider include: accounts receivable, EDP, valuable papers, fine art, communication equipment, and mobile medical equipment.