Insurance Program Results
Blood Banks: Carriers Find Pulse in Market
As lower risk segments begin to draw more carriers looking to build up premium via allied health books, Crittenden looks for expansion in the blood bank market. Zurich began covering blood banks in Washington, D.C., at the end of last year. Lloyd’s-backed Pro-Praxis launched its specialized outpatient allied program nationwide last fall. The carrier offers blood banks $1 million/$3 million limits with $10 million in excess. Currently, the blood service industry represents only 3 percent of Lloyd’s healthcare book. Already entrenched carriers, such as MedPro Group, CNA, Markel, AIG and Ironshore, will keep blood bank premiums flat for the rest of 2015.
The low-risk nature of this class is the attraction; claims have remained relatively low for more than a decade thanks to strict governmental oversight. The surge of AIDS-related claims in the late ’80s hasn’t been matched since, but the looming possibility of a regulatory change regarding prospective male donors who have had sexual contact with another male could significantly alter the risk profile – perceived or otherwise – of this market. On the other hand, nucleic acid amplifications testing virtually eliminated the fear of tainted donations. New technologies have also allowed many preventative health screenings and blood tests to become cheaper, less invasive and faster. Now, the most frequent claims in the market are minor, including deep needle punctures and passed out patients.
Copyright © Crittenden Research Inc., April 27, 2015
Miscellaneous Medical
Administered By: Beazley
Distribution: Direct/Broker
| Industries: |
Blood/Tissue Banks, Clinical Trials, Clinics/Infirmaries (Correctional Health), Dialysis Centers, Emergency Response Services (Ambulance), Home Healthcare, Laboratories, Medical Clinics/Infirmaries, Medispas, Mental Health/Behavioral (Counseling/Counselors), Pharmacies, Rehabilitation Facilities, Research/Research Organizations (Clinical, Etc.), Substance Abuse Rehabilitation Facilities & Services |
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Carriers: Beazley Insurance Co. Inc.
Coverage: Commercial Auto, Employee Benefits Liability, Errors & Omissions (E&O), Excess, General Liability, Products & Complete Operations Liability, Professional Liability, Umbrella/Excess
Limits: up to $25 million (Primary, Excess, Excess Follow Form, Umbrella)
Healthcare
Administered By: CapSpecialty
Distribution: MGU
| Industries: |
Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Clinical Trials, Federal Tort Claims Act Clinics, Home Healthcare, Hospice, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Medical Clinics/Infirmaries, Medical Labs, Medispas, Nurse/Staffing Registries, Pharmacies, Research/Research Organizations (Clinical, Etc.), Urgent Care |
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Carriers: Capitol Specialty Insurance Corp.
Coverage: Professional Liability, Regulatory Liability
Limits: up to $11 million
Medical Professional Liability
Administered By: Markel
Distribution: Direct/Broker
| Industries: |
Allied Health, Alternative Medicine, Ambulatory Surgery Centers (ASCs), Behavioral/Mental Health Organizations, Blood/Tissue Banks, Community Health Centers, Cosmetic Surgeons/Aesthetic Professionals, Home Healthcare, Hospice, Hospitals, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Medical Clinics/Infirmaries, Medispas, Nurse/Staffing Registries, Occupational Therapist, Pharmacies, Physical Therapists, Physicians (Locum Tenens), Senior Living Facilities, Sleep Clinics, Urgent Care, Weight Loss Clinics |
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Carriers: Markel Corp.
Coverage: Excess, General Liability, Professional Liability, Umbrella/Excess
Limits: up to $25 million (Umbrella/Excess), up to $5 million (Primary)
Medical Umbrella
Administered By: Markel
Distribution: Direct/Broker
| Industries: |
Blood/Tissue Banks, Clinical Trials, Clinics/Infirmaries (Correctional Health), Emergency Response Services (Ambulance), Home Healthcare, Hospitals, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Medical Clinics/Infirmaries, Nurse/Staffing Registries, Occupational Therapist, Pharmacies, Physical Therapists, Social Services |
|---|
Carriers: Markel Corp.
Coverage: Umbrella/Excess
Limits: up to $25 million
Miscellaneous Medical Facilities
Administered By: Ironshore
Distribution: Direct/Broker
| Industries: |
Adoption/Foster Services & Facilities, Adult Day Care, Allied Health, Ambulatory Surgery Centers (ASCs), Bariatric Surgery, Behavioral/Mental Health Organizations, Blood/Tissue Banks, Cancer Treatment Centers, Community Health Centers, Cosmetic Surgeons/Aesthetic Professionals, Dialysis Centers, Emergency Response Services (Ambulance), Home Healthcare, Hospice, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Laboratories, Nurse/Staffing Registries, Pharmacies, Physical Therapists, Rehabilitation Facilities, Substance Abuse Rehabilitation Facilities & Services, Urgent Care, Weight Loss Clinics |
|---|
Carriers: Ironshore Inc.
Coverage: Employee Benefits Liability, Excess, General Liability, Hired & Non-Owned Auto, Professional Liability
Limits: up to $1 million/$3 million (Primary), up to $10 million (Follow-Form Excess)
Allied Health Facilities
Administered By: Pioneer Special Risk
Distribution: MGU
| Industries: |
Allied Health, Blood/Tissue Banks, Clinical Trials, Community Health Centers, Home Healthcare, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Medical Labs, Nurse/Staffing Registries, Pharmacies, Physical Therapists, Schools |
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Carriers: Lloyd's of London
Coverage: Commercial Auto (Hired & Non-Owned), General Liability, Professional Liability
Limits: $100,000/$300,000 - $5 million/$5 million (Primary), $1 million/$1 million - $5 million/$5 million (Follow-Form Excess)
Allied Healthcare
Administered By: Navigators Management Co. Inc.
Distribution: Carrier Direct
| Industries: |
Adult Day Care, Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Chiropractors, Cosmetic Surgeons/Aesthetic Professionals, Counseling (Marriage & Family), Home Healthcare, Hospice, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Medical Clinics/Infirmaries, Medical Labs, Medispas, Pharmacies, Physical Therapists, Psychiatric Facilities/Hospitals, Substance Abuse Rehabilitation Facilities & Services |
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Carriers: The Navigators Group Inc.
Coverage: General Liability, Professional Liability
Limits: up to $5 million (Primary or Excess)
Allied Professional Liability Insurance
Administered By: XL Catlin (Formerly Catlin)
Distribution: Direct/Broker
| Industries: |
Adult Day Care, Allied Health, Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Colleges & Universities, Dialysis Centers, Emergency Response Services (Ambulance), Gyms/Fitness Facilities, Home Healthcare, Home Medical Equipment, Hospice, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Medispas, Nurse/Staffing Registries, Opticians, Pharmacies, Physical Therapists, Psychiatric Facilities/Hospitals, Schools, Substance Abuse Rehabilitation Facilities & Services |
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Carriers: Catlin Specialty Insurance Co.
Coverage: Excess, General Liability, Professional Liability, Umbrella/Excess
Limits: $5,000,000 Per Claim - $10,000,000 aggregate
Directors & Officers
Administered By: Kinsale Insurance
Distribution: Carrier Direct
| Industries: |
Adoption/Foster Services & Facilities, Assisted Living Facilities, Auto/Car Dealerships, Behavioral/Mental Health Organizations, Blood/Tissue Banks, Camps (Youth, Sports & Enrichment), Churches/Religious Institutions/Organizations, Colleges & Universities, Community Associations, Crisis Call Centers, Day Care (Child or Adult), Education & Nonprofit, Groups & Clubs, Hospice, Libraries, Medical Clinics/Infirmaries, Mental Health/Behavioral (Counseling/Counselors), Nonprofit Organizations, Private/Charter Schools, Restaurants, Social Services, Substance Abuse Rehabilitation Facilities & Services |
|---|
Carriers: Kinsale Insurance Co.
Coverage: Directors & Officers (D&O)
Limits: up to $5 million/$5 million (Primary)
Hospitals & Other Facilities
Administered By: Hudson Insurance Group
Distribution: Carrier Direct
| Industries: |
Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Hospitals, Laboratories |
|---|
Carriers: Hudson Specialty Insurance Co.
Coverage: Professional Liability
Limits: up to $15 Million (Excess)
Miscellaneous Medical Facilities
Administered By: Allied World
Distribution: Direct/Broker
| Industries: |
Adoption/Foster Services & Facilities, Blood/Tissue Banks, Community Health Centers, Developmentally Disabled Services/Facilities, Dialysis Centers, Emergency Response Services (Ambulance), Federal Tort Claims Act Clinics, Home Healthcare, Hospice, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Laboratories, Medical Clinics/Infirmaries, Medispas, Mental Health/Behavioral (Counseling/Counselors), Non Emergency Transportation (Medical), Nurse/Staffing Registries, Pharmacies, Rehabilitation Facilities, Substance Abuse Rehabilitation Facilities & Services |
|---|
Carriers: Allied World Assurance Co.
Coverage: Excess, Professional Liability, Umbrella/Excess
Limits: $100,000 - $300,000 (EPLI Primary Only), $1,000,000 - $1,00,000 (Sexual Misconduct Sublimits), up to $25,000,000 (Excess/Umbrella), $1,000,000 - $3,000,000 (Standard Primary)
Miscellaneous Medical Suite
Administered By: Allied World
Distribution: Direct/Broker
| Industries: |
Alternative Medicine, Blood/Tissue Banks, Counseling (Marriage & Family), Emergency Medical Technicians (EMTs), Home Healthcare, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Laboratories, Pharmacies, Rehabilitation Facilities, Staffing Agencies, Substance Abuse Rehabilitation Facilities & Services, Urgent Care |
|---|
Carriers: Allied World Assurance Co.
Coverage: Abuse & Molestation Liability, Cyber Liability, Directors & Officers (D&O), Employment Practices Liability (EPL), Fiduciary Liability, General Liability, Medical Expenses, Medical Malpractice
Limits: up to - $5 Million (Medical Malpractice & Management Liability.), Up to - $1 Million (Privacy & Network Liability.)
Ancillary Healthcare Professional Liability
Administered By: AXIS Insurance
Distribution: Direct/Broker
| Industries: |
Allied Health, Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Dialysis Centers, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.) |
|---|
Carriers: AXIS Specialty Insurance Co.
Coverage: Excess, General Liability, Professional Liability, Umbrella/Excess
Limits:
Extended Reporting Period/Tail
Administered By: MedPro Group
Distribution: Carrier Direct
| Industries: |
Allied Health, Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Cancer Treatment Centers, Dentists, Dialysis Centers, Freestanding Medical Facilities, Hospitals, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Medical Clinics/Infirmaries, Medical Labs, Medispas, Physician Groups, Physicians, Senior Living Facilities, Surgeons |
|---|
Carriers: Medical Protective Co.
Coverage: Extended Reporting Period/Tail
Limits: up to Any (Flexible Terms)
Facilities
Administered By: MedPro Group
Distribution: Carrier Direct
| Industries: |
Blood/Tissue Banks, Cancer Treatment Centers, Community Health Centers, Dialysis Centers, Freestanding Medical Facilities, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Medical Clinics/Infirmaries, Medical Directors, Medical Labs, Medispas, Pharmacies, Rehabilitation Facilities, Sleep Clinics, Urgent Care |
|---|
Carriers: Medical Protective Co.
Coverage: Directors & Officers (D&O), Employment Practices Liability (EPL), Excess, General Liability, Medical Malpractice, Professional Liability
Limits: up to Any (Excess), up to $1 million/$3 million (Primary), up to $5 million (Additional Cyber Limits), up to $5 million (Regulatory Fines & Penalties (optional)), up to $5 million (D&O or EPLI (optional))
Healthcare Professional Liability
Administered By: Berkshire Hathaway Specialty Ins
Distribution: Direct/Broker
| Industries: |
Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Healthcare Systems, Hospitals, Long-Term Care Facilities (LTC), Medical Clinics/Infirmaries, Physician Groups, Rehabilitation Facilities, Senior Living Facilities |
|---|
Carriers: Berkshire Hathaway Specialty Insurance
Coverage: Excess, General Liability, Professional Liability, Umbrella/Excess
Limits: up to $80 million (Or More)
Medical Facilities (ACE Westchester)
Administered By: Chubb Ltd. (Formerly ACE Group)
Distribution: Carrier Direct
| Industries: |
Adult Day Care, Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Cancer Treatment Centers, Community Health Centers, Dialysis Centers, Home Healthcare, Hospice, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Lithotripsy Centers, Medical Clinics/Infirmaries, Medical Labs, Non Emergency Transportation (Medical), Nurse/Staffing Registries, Occupational Therapist, Opticians, Pharmacies, Physical Therapists, Sleep Clinics, Speech Therapy/Therapists, Urgent Care |
|---|
Carriers: Ace Westchester
Coverage: Excess, General Liability, Professional Liability, Umbrella/Excess
Limits: up to $1 million/$3 million (Primary Limits)
Miscellaneous Facilities
Administered By: AIG
Distribution: Direct/Broker
| Industries: |
Adult Day Care, Allied Health, Ambulatory Surgery Centers (ASCs), Bariatric Surgery, Behavioral/Mental Health Organizations, Blood/Tissue Banks, Cancer Treatment Centers, Clinics/Infirmaries (Correctional Health), Community Health Centers, Dialysis Centers, Emergency Response Services (Ambulance), Home Healthcare, Hospice, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Laboratories, Medical Directors, Medispas, Non Emergency Transportation (Medical), Opticians, Pharmacies, Rehabilitation Facilities, Substance Abuse Rehabilitation Facilities & Services, Telemedicine, Urgent Care, Weight Loss Clinics |
|---|
Carriers: AIG
Coverage: Abuse & Molestation Liability, Employee Benefits Liability, Excess, General Liability, Hired & Non-Owned Auto, Professional Liability, Umbrella/Excess
Limits: up to $25,000,000 (Primary or Excess)
Miscellaneous Medical Facilities
Administered By: Chubb Ltd. (Formerly ACE Group)
Distribution: Carrier Direct
| Industries: |
Allied Health, Ambulatory Surgery Centers (ASCs), Blood/Tissue Banks, Colleges & Universities, Community Health Centers, Dialysis Centers, Home Healthcare, Hospice, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Laboratories, Lithotripsy Centers, Medical Clinics/Infirmaries, Nurse/Staffing Registries, Pharmacies, Schools, Weight Loss Clinics |
|---|
Carriers: Chubb Group of Insurance Cos.
Coverage: Excess, General Liability, Professional Liability, Umbrella/Excess
Limits: $10,000,000 per claim - $10,000,000 aggregate (Excess), $1,000,000 per claim - $3,000,000 aggregate (Primary), up to $25 million (Based upon underwriting and account characteristics)
Ancillary, Allied & Misc. Providers
Administered By: Berkley Healthcare Underwriters
Distribution: Carrier Direct
| Industries: |
Ambulatory Surgery Centers (ASCs), Behavioral/Mental Health Organizations, Blood/Tissue Banks, Clinics/Infirmaries (Correctional Health), Dialysis Centers, Imaging Centers/Diagnostic Labs (X-Ray, MRI, etc.), Laboratories, Medical Labs, Occupational Therapist, Urgent Care |
|---|
Carriers: Lloyd's of London, W.R. Berkley Corp.
Coverage: General Liability, Medical Malpractice, Professional Liability
Limits: up to $16 million, up to $25 million (Will be considered.)