Beazley policies provide broad coverage that includes:
We also cover:
Up to US $25,000,000
We have nearly 20 years of global experience underwriting large and middle-market hospitals and healthcare systems and an award-winning claims team.
We value our strong client relationships and continuously innovate to provide the tools and information that our broker partners and clients need to succeed such as the utmost clarity in our policies regarding what we do and do not cover to provide reassurance and help eliminate possible confusion.
Beazley’s broad and flexible policy specifically for US hospitals is called the AcuteCare form. The AcuteCare form comprises specialist protection and is unique in providing coverage to US Hospitals that may be underinsured in areas such as negligence in clinical trials. The form also includes related claims (batch) language to improve clarity and cyber exclusion with carve back for bodily injury or property damage.
Beazley Quality Indicator Return Premium (QuIRP)
Beazley’s QuIRP Program is unique in the medical malpractice market. Instead of working from industrywide quality benchmarks, which frequently conflict with one another, Beazley adopts a tailored approach to the circumstances and needs of each individual client. At the beginning of the policy period, Beazley agrees with the client on a set of target quality improvements. If these targets are met by the end of the policy period,
the client will receive a pre-agreed return premium, which may be a substantial sum. Under this program, a client can receive a payment even if it has made a claim during the policy period.
Healthcare providers who take out the AcuteCare policy and choose to participate in the QuIRP Program, can opt to incorporate an Artificial Intelligence-powered early warning system for labor and delivery into their risk management program as well. Through this program, Beazley is seeking to institutionalize procedures that, over time, should reduce claims and further support our hospital clients.
Freedom lies in being bold. We dare to be different and seek bold possibilities to create more innovative, fair and satisfying outcomes for our clients, brokers and employees. From insuring the highest building in the world, to the first commercial lunar vehicle to operate on the moon - we boldly go where others won’t.
STRIVING FOR BETTER
Good is a start, but we go all-out for better. A driven community of individuals relentlessly push the needle and creating value. From launching the market’s first dedicated ESG syndicate to the establishment of our business unit focusing on designing digital insurance solutions, we pride ourselves on always going above and beyond. Simply put, at Beazley we go to 11.
DOING THE RIGHT THING
Acting with integrity in a straightforward, decent way is instinctive. Open and honest with others, we show respect and empathy however challenging the situation – demonstrated by our multi-award winning claims team. Doing the right thing makes for a fair-minded, rewarding environment and makes work and life better for all.
Inflation continues to be a major headline in the U.S. with every industry and sector now feeling the repercussions of the nation’s current economic climate. With the healthcare industry no exception, the Healthcare Management Liability market can expect to see direct impact in the coming months.
In recent years, the telehealth space has grown significantly, including countless new entrants into the market. These businesses can run the gamut in size. As a virtual care insurer, we see insured go from the pre-revenue phase, through IPO, and eventually to billion-dollar revenues.