The combination of unrelenting financial pressure and healthcare reform has spurred tremendous change in the way healthcare providers and payors are organizing themselves in order to effectively deliver and finance care. Hospitals and physicians are increasingly coming together in one form or another. Formerly independent community hospitals are creating alliances, and larger hospitals are acquiring smaller ones, or merging with other like-size systems. Through all of this change, healthcare providers are taking on more financial risk.
Our team of healthcare production specialists and claims representatives collaborate to provide customized solutions for the complex risks of the healthcare industry. Whether your concern be environmental, cyber, management liability, terrorism, or property we offer a full suite of solutions for your healthcare risk needs.
IronHealth - Healthcare Insurance
IronHealth, Ironshore’s healthcare unit, understands these new and emerging risks and offers unparalleled products and expertise in virtually all areas of healthcare liability, employer and provider stop loss and HMO reinsurance. Our capabilities include Hospital Professional, Long Term Care, Managed Care, Miscellaneous Facilities, Group Practice, Life Sciences, Custom Account and Stop Loss products.
Site Pollution Incident Legal Liability Select (SPILLS) Healthcare
Ironshore’s Builders Risk program provides comprehensive coverage for construction projects including SPILLS Healthcare, a comprehensive environmental insurance policy that assists healthcare facilities in managing their environmental exposures in a cost-efficient manner. Some exposures include mold, mildew, legionella, underground storage tanks and waste removal. Target classes of business include hospitals, assisted living facilities, skilled nursing facilities, hospice services and other medical facilities.
Enterprise PrivaProtector – Network Security and Privacy Insurance
A comprehensive network security and privacy solution tailored to meet the needs of healthcare companies. Coverage includes Side A excess D&O liability coverage that covers directors and officers for non-indemnified losses arising out of a privacy incident. Third party liability coverage is available for losses arising from theft, loss of use or unauthorized disclosure of non-public personal information or confidential corporate information, such as electronic medical records. A key component includes the privacy breach expense fund for public relations, legal, notification, forensic, credit freezes and thaws, identity restoration, credit identity report monitoring and call center expenses. First party coverage is also offered for network extortion, data loss (such as HIPAA data breaches) and business interruption.
Policyholders also gain access to the eRiskHub®, a free online portal powered by NetDiligence® that offers an incidence response helpline, news center, educational material and directory of leading independent third party consultants to assist with your security and privacy needs.
Kidnap & Ransom
Kidnap for ransom and extortion (K&R) is a growing element of global criminal society today, demanding vigilance and comprehensive security risk management on the part of any healthcare company with global travel exposure. Ironshore’s K&R Insurance coverage offers a tailored insurance and crisis management solution to this problem. Cover incorporates reimbursement of any ransom payments and expenses relating to resolving an incident including the fees of our exclusively appointed crisis response company, Hazelwood Street Consultants LLC.
Ironshore’s professional lines unit, IronPro, offers products including Directors and Officers Liability, Employment Practices Liability, Fiduciary Liability, Fidelity insurance and an array of professional liability insurance products.
General Commercial Property
The policies within Ironshore Property® insure against all risks of direct physical loss of or damage to property on a First Party Basis. Property insurance policies can incorporate both domestic and global exposure. This form of property coverage encompasses a broad range of property risks tailored to healthcare facilities.
A terrorist attack can strike at anytime, anywhere, and the consequences can be devastating. With the right protection, these damages can be limited and the security of knowing there is coverage is comforting. Ironshore offers tailored and flexible solutions for healthcare facilities to account for all their needs:
• Terrorism & Sabotage insurance for property damage and business interruption, capacity up to $300,000,000
• Extended to cover Strikes, Riots, and Civil Commotion as well as Malicious Damage
• Worldwide cover
• Full value or first loss
• Includes defense and debris removal costs and professional fees
This product offers a global solution to the risk of damage caused by acts of terrorism.
Designer & Contractors Professional Liability (DCPL)
Ironshore’s Designer & Contractors Professional Liability (DCPL) team of production and risk management specialists, includes experienced experts dedicated to providing quality products and services to architects, engineers and design-build contractors throughout the construction industry. Whether a healthcare facility owner engaged in capital improvements chooses their method of delivery as Design-Build, Design Assist, Bridging, Integrated Project Delivery (IPD), Public, Private Partnership (P3), or traditional Design-Bid-Build, our team is uniquely positioned to provide tailored and innovative insurance coverage solutions and industry specific risk management services to mitigate circumstances and resolve claims expediently and efficiently.
• Retentions starting at $10,000 Each Claim
Limits of Insurance:
• Up to $15MM limit