Additional Types of Hospital and Healthcare Coverage Available
Take a closer look at some of the protections available for hospitals no matter where they are located around the world. Coverage options include the following:
Errors and Omissions Insurance
A key type of coverage for hospitals is Errors and Omissions insurance, commonly sold as professional liability insurance or malpractice insurance. It covers any employee who provides medical advice or makes any type of recommendation of care. It can include instances of neglect and claims for poor decisions.
Commercial General Liability
Claims made against the hospital or facility as a result of an accident or injury occurring on the premise is covered under Commercial General Liability insurance. This will include investigations and settlements as well as the cost of defence and other legal costs related to such claims. It may include bonds and judgements as well made against the company.
Employment Practices Liability Insurance
Employment Practices Liability Insurance also known as EPLI provides coverage in instances when a former, current, or a potential employee files a claim against the hospital or healthcare provider has had his or her rights violated. The coverage extends to a variety of types of claims including wrongful termination, sexual harassment, discrimination against race, sex, age, or disability, among other types of coverage. The policy provides for the legal defence of the location as well as any damages required to be paid by the company after such claims. It does not include coverage for intentional acts of discrimination.
Construction Property Insurance
With the growing demand of hospital facilities around the world, there is no doubt that having comprehensive protection for construction sites is very valuable. These policies can provide protection in the event of any claim made against the company related to construction locations.
Excess Casualty Insurance
This type of insurance provides coverage for extensive claims made against the organisation. This is often due to significant events that involve a significant amount of loss. Catastrophic liability loss extends beyond that of traditional liability insurance, offering a higher level of care in situations where the losses extend significantly beyond a single person or a single claim.
Most hospitals and healthcare providers must compete for workers. As a result, it is very common to provide extensive benefits plans to meet the needs of these workers. Yet, there are some risks in offering these plans. Fiduciary liability aids in providing protection against benefit plan losses and to cover the employees that oversee these plans.
Crime is common around the world including in the healthcare setting. This type of insurance coverage protects against a blanket level of areas including social engineering, computer crime, fraud of all types, and more. It can help in claims of a dishonest employee or criminal behaviour on others involved in the location.
Customised Healthcare and Hospital Insurance and Supportive Services
Osprey Insurance Brokers offer a wide range of coverages designed to meet the unique needs of the ever-changing health industry. Our services are provided by industry leaders who understand the risks as well as how to mitigate them in these high-value companies and establishments. The company offers flexible policy options customised to fit the unique environment in which you operate and with a careful eye on the needs you have. We tailor your plan to meet your needs including through operators, lessors, financiers, and in other environments. When you work with Osprey Insurance Brokers, you gain significant support as well as an affordable and reliable plan. Contact our team today to talk to an experienced professional that is a leader within the healthcare industry. Let us help you with outstanding service and support.