PHILADELPHIA--(BUSINESS WIRE)--Given the rapidly changing nature of the healthcare market, there is an increased need for advances in medical liability coverage to address risks not typically covered by medical professional liability policies. Recognizing these potential gaps, ACE Westchester, the excess and surplus-focused business of ACE Group, today announced a new errors and omissions (E&O) endorsement designed to help medical organizations manage certain non-traditional risk exposures. This E&O expansion further extends ACE’s existing offerings in the medical risk arena, and leverages their in-house expertise and first-class experience in the excess and surplus sector, by designing uniquely-tailored risk solutions for non-traditional medical facilities.
“ACE Westchester’s longstanding expertise in the excess and surplus market positions us to better address the emerging risk exposures of miscellaneous medical facilities and healthcare organizations,” said Randi Goldberg, Vice President, ACE Westchester Professional Risk. “We understand specialized providers of healthcare want to work with an insurer that can provide customized enhancements for their medical professional liability policies.”
This new enhancement is available to all ACE Westchester Medical Risk policyholders. Key highlights of the E&O expansion include:
- Ability to personalize endorsement for individual insureds with exposures that could include an amendment to the definition of healthcare professional services
- Capacity to add financial loss coverage
No minimum premium
- For small allied businesses this enhancement may be available at no charge
Targeted classes of healthcare providers and medical organizations include, but are not limited to:
- Medical Staffing Agencies
- Home Healthcare Agencies
- Hospice Facilities
- Medical Consulting Groups
- Workplace and Safety Consulting
- Adoption and Foster Care Agencies
- Life Sciences Organizations
- Medical Technology Firms
“Product enhancements such as this demonstrate the flexibility and creativity at ACE in custom tailoring solutions for our insureds,” added Ms. Goldberg. “Furthermore, this approach plays to our unique capabilities and strengths of combining both medical and professional risk expertise.”
For more information about ACE Westchester’s range of products and services, please click here.
About ACE Group
ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 54 countries, ACE provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at www.acegroup.com, or follow ACE on Twitter, https://twitter.com/ACEGroupNA.