AXIS INSURANCE SERVICES, LLC: E&O Coverage for the Healthcare/Medical Industry
The healthcare and medical sectors have undergone major changes in the last decade due to increased regulation and oversight, reshaping the risks that physicians, hospitals, managed care organizations, and others face today and making the need for broad and customized Medical Professional Liability insurance invaluable. In addition, the number of organizations requiring this coverage has grown as a result of the changing healthcare industry, including Accountable Care Organizations (ACOs), Allied Health Care facilities, and Medical Billing and Medical Transcription firms.
The staff at Axis Insurance Services, LLC is highly experienced in all aspects of Medical Professional Liability insurance and partners with some of the most respected and financially strong insurance carriers in the industry. We will review your organization’s risk profile and structure a program that addresses your unique characteristics to help manage your total cost of risk. We will also review your current insurance program carefully to identify gaps in coverage and/or areas for improvement.
Product Overview
Medical Professional Liability insurance protects physicians and other licensed health care professionals and health care and medical organizations from liability associated with wrongful practices resulting in bodily injury, medical expenses and property damage, as well as the cost of defending lawsuits related to such claims. We provide coverage for the following:
- Accountable Care Organizations (ACOs)
- Allied Health Organization/Providers
- Medical Malpractice (All Specialties)
- Medical Billing/Coding
- Medical Practice Managers
- Preferred Provider Organizations (PPOs)
- IME/Peer Review Companies
Our custom E&O programs address industry-specific issues such as:
- Vicarious Medical Malpractice
- Punitive Damages
- HIPAA Compliance, Fines & Penalties
- Outsourced Vendor Utilization
- Credentialing
- Telecommuting
- Network Services & Privacy
- Cloud Computing
We also provide specialized Medical Billing and Transcription Errors and Omissions & Privacy Liability insurance for medical billing and medical transcription companies. In the event a lawsuit is brought against your company alleging negligence for either providing or failing to provide professional services, E&O insurance steps in on covered claims to protect your company from bearing the full expense of a lawsuit and to assist in your defense. Exposures come from clients and from others connected to these services such as patients, insurance companies, federal and state governmental agencies, and other healthcare providers. For more information about this coverage please click here.
