PRODUCT: Expanded healthcare product offerings to more healthcare medical facilities and expanded coverage forms
COMPANY: The Hanover Insurance Group Inc.
BEST RATING: A (Excellent)
AVAILABILITY: Coverage is available through appointed retail agents. The Hanover is exclusively dedicated to the independent agency channel.
FOCUS: Matthew Mitchell, president of health care at The Hanover, says the allied health care market has been one of the company’s fastest-growing sectors. The company, has offered general and professional liability product solutions for these types of exposures for more than five years, but has recently expanded its health care product in response to changes in the market.
“We wanted to provide our independent agents with an innovative product offering that would help them grow their business by better serving these healthcare customers,” Mitchell says. “Essentially, we have further customized our new health care product which covers general and professional liability to meet the diverse needs for a wide range of miscellaneous medical facilities.”
For ambulatory surgery centers, community health centers, clinics, diagnostic testing, hospice, imagining, lithotripsy, rehabilitation, student health and urgent care centers, new products include the ability to schedule the physician’s professional liability for select classes. This benefits facilities that have employed physicians and reduces the need for physicians to purchase a separate medical malpractice policy to cover work they do on behalf of the entity.
“We have dedicated health care underwriters, claims adjusters and risk managers who average over 20 years’ experience in this market,” Mitchell says. “And this enhanced product complements and builds upon our existing portfolio of health care products including home healthcare, medical equipment, pharmacies and elder-care facilities.”
One example Mitchell cites is the company’s navigator liability coverage endorsement for community health centers—programs now required by the Affordable Care Act—to help consumers understand new coverage options and find the most affordable coverage that meets their health care needs. Some community health centers have received Navigator grants in federally-facilitated and state partnership marketplaces.
The Hanover also allows agents to write property and auto lines of business, creating more comprehensive risk management support for customers and greater ease for customers and agents.
With a dedicated claims and risk management team that focuses solely on health care, as well as an interactive risk management portal that contains a wide range of clinical and nonclinical risk management articles and services, The Hanover gives agents access to a value-added service and a new way to leverage themselves as specialists in the market.
UNDERWRITING: Primary general liability and professional liability policies are available with separate limits of insurance. Affirmative coverage grant available for physical and sexual abuse. Excess limits available up to $10 million.
MINIMUM PREMIUM: $2,500.
TARGET: Small to mid-sized outpatient medical facilities.
COVERAGE TERRITORY: Nationwide.
CONTACT: Eric Paynter, assistant vice president of health care at The Hanover Insurance Group Inc.; 440 Lincoln St., Worcester, MA 01653-0002; 804-673-5568.
Ronimarie Acord is an IA contributor.