ACE Introduces Two Health Care Protection Policies Offering Comprehensive Management Liability Coverage Developed Specifically for Health Care Organizations

Mon May 6, 2013 4:35pm EDT

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ACE Introduces Two Health Care Protection Policies Offering Comprehensive Management Liability Coverage Developed Specifically for Health Care Organizations

The ACE Group today announced two new package policies specifically designed to provide health care organizations with a solution to their complex and ever-expanding exposures. These exposures include, but are not limited to, an increase in False Claims Act, credentialing and clinical trial exposures, as well as a reinvigoration of antitrust enforcement. The new ACE Express® Private Health Care Protection Policy and ACE Express® Not-For-Profit Health Care Protection Policy provide customized and concise coverage for health care organizations.

The exposures faced by those in the health care marketplace are always evolving, and there are additional regulations coming in 2014,” said Keith Lavigne, Senior Vice President, ACE USA Professional Risk. “Complex organizations — such as hospitals, physician practice groups and Accountable Care Organizations — require sophisticated insurance products to address their risk management needs, and we strongly believe that our new products will fill a gap that currently exists in the insurance marketplace.”

“The release of these two new products demonstrates ACE’s ongoing commitment to meet the unique and changing needs of this critical marketplace,” said Scott Williams, Assistant Vice President, ACE USA Professional Risk. “In an industry facing unprecedented scrutiny and exposure, expanded coverage is necessary to protect these institutions and their directors, trustees, officers, physicians and employees.”

Four key coverage parts — Directors & Officers and Organization Liability, Employment Practices Liability, Fiduciary Liability, and Crime — are available in each package policy, with each part tailored to meet the specific needs of the health care market.

Product Highlights include:

  • Expanded False Claims Act/Self-Referral coverage, including explicit coverage for Medicare billing audits initiated by Recovery Audit Contractors (RACs), Zone Program Integrity Contractors (ZPICs), Medicaid Integrity Contractors (MICs) and Medicare Administrative Contractors (MACs)
  • Expanded coverage for peer review and credentialing related lawsuits filed by physicians
  • Explicit clinical trial coverage
  • Explicit coverage for tax, HIPAA and Emergency Medical Treatment and Active Labor Act (EMTALA) violations, including civil fines and penalties coverage
  • Expanded coverage and enhanced clarity using a narrow “for” preamble to the bodily injury and professional service exclusions
  • Expanded protection for individuals, including Side A coverage for civil fines and penalties assessed for unintentional, non-willful conduct
  • Broad advancement provision to protect individuals in the event of a lack of available indemnification, including the organization’s refusal to indemnify

Eligible organizations include:

  • Hospitals and health care facilities
  • Accountable Care Organizations (ACO)
  • Long term care/senior living facilities
  • Non-For-Profit Managed Care Organizations (MCO)
  • Physician and medical groups
  • Miscellaneous medical facilities, including urgent care and ambulatory surgery centers, imaging centers, occupational and physical therapy clinics, home health care, hospice, emergency medical/ambulance services, assisted and independent living facilities, and physical therapy clinics.

Product highlights are summaries only; please see the actual policy for terms and conditions. Products may not be available in all locations and remain subject to ACE Professional Risk’s underwriting criteria.

ACE Professional Risk, a division of ACE USA, is staffed by a specialized team of innovative underwriters and provides management liability and professional liability products throughout the U.S. For more information about ACE Professional Risk and its range of products and services, please visit our website.

ACE USA is the U.S.-based retail operating division of the ACE Group, headed by ACE Limited (NYSE: ACE), and is rated A+ (Superior) by A.M. Best Company and A+ (Strong) by Standard & Poor’s. ACE USA, through its underwriting companies, provides insurance products and services throughout the U.S. Additional information on ACE USA and its products and services can be found at www.acegroup.com/us.

ACE Westchester, the U.S.-based wholesale –focused operations of the ACE Group, provides a full range of professional risk products for the wholesale marketplace designed to provide insurance solutions for management and professional liability exposures. ACE Westchester Professional Risk provides customer-focused solutions in a broad range of industries. For more information about ACE Westchester, please click here.

The ACE Group is one of the world’s largest multiline property and casualty insurers. With operations in 53 countries, ACE provides commercial and personal property and casualty insurance, personal accident supplemental health insurance, reinsurance, and life insurance to a diverse group of clients. ACE Limited, the parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index. Additional information can be found at www.acegroup.com.

ACE North America Communications
Carla Ferrara, 215-640-4744
carla.ferrara@acegroup.com

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