|[April 13, 2012]
ACE USA Joins With RPS Healthcare to Expand Professional Liability Coverage for Podiatrists
PHILADELPHIA --(Business Wire)--
ACE USA, the U.S.-based retail operations of the ACE Group, today
announced that its ACE Medical Risk Division now offers increased
reimbursement limits for legal expenses incurred due to an action by a
federal or state agency arising from a podiatrist's participation in the
Medicare or Medicaid programs. This new Podiatrist Professional
Liability Coverage Endorsement helps mitigate and manage rising legal
expenses by raising the coverage limits from $30,000 to $50,000 per
action, with an annual aggregate of $50,000. This product is
underwritten by companies within the ACE Group, an A.M. Best "A+" rated
carrier, and is offered to podiatrists exclusively by RPS Healthcare,
National Program Administrator of the Podiatry PLUS program.
This new product enhancement comes to the market as ACE and RPS prepare
for their participation in the 2012 Midwest Podiatry Conference in
Chicago, IL, which brings together podiatry professionals from the
healthcare industry through an annual program of continuing education
and other professionally-oriented instruction.
"The Patient Protection and Affordable Care Act and Centers for Medicare
& Medicaid guidelines and rules have had a tremendous impact on the
compliance programs of Medicare and Medicaid healthcare providers, and
have resulted in an increase in investigations and enforcement actions,"
said Caroline Clouser, Executive Vice President, ACE Medical Risk.
"Through our efforts with RPS Healthcare, we are able to address the
gaps in most coverage forms by providing higher reimbursement limits to
podiatrists for legal expenses incurred in responding to actions from
agencies authorized to impose sanctions."
"We're pleased to work with ACE Medical Risk -- and their experienced
team of specialized underwriters -- in the effort to provide significant
and competitive insurance options to podiatrists through our Podiatry
PLUS program," said Ronda Ashley, RPS Healthcare Programs Manager.
RPS Healthcare is part of Risk Placement Services Inc., one of the
largest wholesalers and the largest Managing General Agent in the
country. It is wholly owned by Arthur J. Gallagher & Co., an
international insurance brokerage and risk management services firm
headquartered in Itasca, IL.
ACE Medical Risk's liability offerings include primary and excess
medical professional liability for hospitals, and miscellaneous
healthcare facilities, and managed care errors and omissions coverage.
In addition, ACE Medical Liability offers products liability for
clinical trials, biotechnology, and specialty pharmaceutical companies,
as well as a comprehensive package policy that includes property, auto
and crime coverages. To learn more about ACE Medical Liability's
products and services, please visit
Insurance is provided by insurance companies within the ACE Group, or by
its allied distribution associates. All products may not be available in
all jurisdictions. The product information above is a summary only. The
insurance policy, when issued, will contain the actual terms and limits
of the contract.
ACE USA is the U.S.-based retail operating division of the ACE Group,
and is rated A+ (Superior) by A.M. Best Company and AA- (Very
Strong) by Standard & Poor's. ACE USA, through its underwriting
companies, provides insurance products and services throughout the U.S.
Additional information on ACE USA and its products and services can be
found at http://www.acegroup.com/us-en.
The ACE Group is a global leader in insurance and reinsurance serving a
diverse group of clients. Headed by ACE Limited (NYSE:ACE), a
component of the S&P 500 stock index, the ACE Group conducts its
business on a worldwide basis with operating subsidiaries in more than
50 countries. Additional information can be found at: www.acegroup.com.
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