ACE announced the launch of the ACE Express Private Health Care Protection Policy and the ACE Express Not-For-Profit Health Care Protection Policy to provide “customized and concise coverage” for healthcare organisations grappling with increased exposures under the False Claims Act and the reinvigoration of antitrust enforcement.
The products include four key coverage parts—directors & officers and organisation liability, employment practices liability, fiduciary liability and crime— which are tailored to meet the specific needs of the healthcare market.
Kevin Lavigne, senior vice president of ACE USA Professional Risk, commented: “the exposures faced by those in the healthcare marketplace are always evolving, and there are additional regulations coming in 2014. Complex organisations—such as hospitals, physician practice groups and accountable care organisations— 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.”
Scott Williams, assistant vice president, commented: “in an industry facing unprecedented scrutiny and exposure, expanded coverage is necessary to protect these institutions and their directors, trustees, officers, physicians and employees.”