Specialist insurer Beazley has launched its streamlined Miscellaneous Medical Liability insurance product (“MiscMed”) to both US and London markets.
Furthermore, the product has significant improvements to wordings.
The MiscMed product provides protection for medical professional liability exposures that may come out of a wide range of healthcare-related businesses.
In addition, this includes the more complex risks that can fall in the grey area of healthcare – such as search and rescue providers, humanitarian aid organisations, and social services.
The main benefits of the product are:
- Simplified policy documentation in one modular form, enabling coverage to be tailored;
- Added Errors and Ommissions;
- Separated the sexual/physical misconduct module to provide a distinct tower of coverage, and
- Enhanced coverages built into base form, requiring fewer endorsements.
John Livatino, focus group leader – US miscellaneous medical & life science at Beazley, said: “In this area we have a robust appetite and are able to use our extensive experience and risk insight to develop improved coverage for hard-to-place risks. As with everything we do at Beazley, this new modular policy keeps brokers front of mind: our coverage is organised in-line with industry standards, providing them with the flexibility needed to provide a bespoke solution for their clients.”
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In March 2023, Beazley launched a new insurance offering aimed at private equity firms.
Private equity firms and their directors deal with a variety of risks during an investment’s lifecycle.
The bespoke offering is designed to focus on directors and officers (D&O) risks within the lifecycle of portfolios and covers it from the purchase of the asset to its divestiture.