Month: May 2016

Excess Limits for Medical Professionals

We have a Market for unsupported medical professional excess!

Excess coverage can be placed for your practitioners who simply want to purchase higher limits or for those contractually required to carry a higher limit than their current Carrier will provide. Aside from the professional alone, excess for their entities & corporations will also be considered!

Coverage can be bound for as low as $2,500!

What’s the Target?

✔Solo, Non-standard physicians and surgeons or other medical practitioners with:

Gaps in coverage, Poor Claims history, Board or Licensing issues, or Substance abuse issues

✔ Providers sharing in the same underlying limits

What are the Submission Requirements?

• Application & CV
• Loss Runs, Dec page copy (if excess is carried)
• Underlying Carrier’s Quote

Have a client who can benefit? Contact your HPSI Producer today. Give us a call at 678-935-5040.

Excess Limits for Medical Facilities.

At HPSI we have had some success in Excess Policies with our Carriers. With this rise in Policies our Carriers have become very competitive in their pricing!  

More and more companies have been requiring consultants who work as independent contractors to carry their own liability insurance when working on a project with them.

Your client’s risk isn’t based on the likelihood of them losing a lawsuit but rather that of a suit being brought against them.  This coverage protects the Named Insured in the event their client claims they suffered a financial loss or interruption of services, or that the insured failed in their “duty of care.”

What falls under this type of coverage?? – Verification mistakes, ill advisement, documentation errors or data entry errors, failing to protect a clients’ property or data, breach of contract, misuse of data, violation of legal or state laws, etc.

Simply having a GL Policy or Professional Liability
Policy will not always cover these types of losses in consulting work.

The risks are largely dependent on specialty & business sector. For some professionals it’s easy to look at these examples and downplay the risk. However, even if the claim is meritless, coverage in place will ensure your client incurs no out of pocket costs in defending their business. Simply having E&O tells their clients that your Insured is dedicated, responsible, and assures them that they are financially protected if the Insured’s business causes them a loss.

HPSI has access to Carriers that can provide coverage for Bodily Injury (BI) or any financial loss related liability.

Premium for this Coverage begin at $950

What can be covered?

Medical Directors, Locum Tenens,
Lawyers, Architects
Real Estate, Management
Consultants, IT Technology Consulting
& More!

Simple Submission Requirements:

E&O Application,
Narrative on the Consulting Duties or CV
Copy of Contract (if available)

• Lessor’s Risk only exposures – Offices
• Warehouses
• Apartments – Maximum 24 units & Condominium Associations
• Supermarkets & Retail Stores – Including food & drink
• Churches
• Laundromats
• Liquor Stores
• Distributors – Light Hazard Products