Bermuda-based IronHealth, the specialty healthcare unit of Ironshore Inc., has enhanced its Healthcare Professional Liability (HPL) insurance product, increasing limits to $50 million and broadening the scope of coverage.
IronHealth’s HPL coverage can now include individual limits for employed or affiliated physicians and, in the case of hospitals themselves, address any managed care exposures within their systems to protect against heightened exposure inherent with value-based contracts.
IronHealth has also augmented its services for HPL insureds. When HOL is underwritten as a primary or lead excess policy, where the insured has a self-insured retention, IronHealth can assume responsibility to report on behalf of the policyholder by serving as a Medical Mandatory Insurer Reporting (MMIR) agent to ensure seamless accountability in the self-insured portion of a claim.
In addition, IronHealth’s HPL program provides insureds with a stipend that can be used to buy risk management products and services from their providers of choice. Insureds may also use their “risk management stipend” to defray the cost of data analytical resources related to certain quality and safety initiatives.
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