Healthcare - Regulatory Liability

Beazley launched its regulatory liability coverage in March 2012 and has continued to update and create enhancements.  Beazley was one of the first to provide a true risk transfer solution to the market and arguably the first to provide a risk transfer product to the larger provider. 
 
This coverage can now be purchased as part of a package within the Healthcare management liability suite called Beazley Remedy.  Regulatory billing E&O coverage can be purchased by itself or in conjunction with D&O, EPL and Fiduciary.  The limits can be written shared or separate.  A variety of options for retentions, coinsurance, limits and retro dates can be quoted.   

• Dedicated regulatory billing errors and omissions clause  
• Coverage for stark, anti-kickback and false claims act allegations  
• Defense only option for governmental investigations, voluntary notifications and commercial payor actions  
• Ability to purchase higher limits inclusive of defense, forensic experts and civil fines and penalties coverage  
• Coinsurance between 10 and 50%  
• Flexibility around retroactive coverage. 

Up to US $20,000,000 

Minimum retention of US $250,000 

Minimum of 10% coinsurance   

Optional retroactive buy back coverage for up to 3 years 

Our Healthcare Regulatory product is designed to respond to actions brought by or on behalf of government entities for billing errors and omissions. Our policy also covers claims brought by commercial payors and defense expenses for formal voluntary disclosures to the government. Coverage includes attorney fees, external auditor and medical expert costs associated with defending these claims as well as fines and penalties and damages attributed at the time of settlement. Our reimbursement policy is available in all 50 states.