[March 03, 2014]

Berkshire Hathaway Specialty Insurance Offers Healthcare Umbrella Policy

Berkshire Hathaway Specialty Insurance (BHSI) today introduced a Healthcare Umbrella Policy designed to address the exposures of large medical providers in today's ever-changing healthcare environment.

"With input from healthcare risk managers, brokers and our own healthcare claims specialists, we created a form that is clear in intent and current in addressing the reality of the world in which healthcare providers are operating," said Greg Hamlin, Vice President, Healthcare Professional Liability, BHSI.

Reflecting the industry's widespread consolidation, the policy provides a definition of insured, which encompasses new entities acquired or created by the named insured. The policy's contractual liability coverage section specifically addresses Accountable Care Organizations, and the policy includes coverage for clinical trials in the definition of Professional Medical Services.

Importantly, the policy provides business crisis and reputation protection benefits tailored for healthcare customers.

"With this new form, we have laid the foundation for an ongoing relationship with our customers. From its flexible, modular format, to the absence of a hammer clause in claims, the form embodies our commitment to collaborating with healthcare providers to most effectively manage risk," said Robert Romeo, Vice President, Healthcare and Construction Claims, BHSI. Policyholders are also reimbursed for the costs of pre-approved risk management services.

Berkshire Hathaway Specialty Insurance (www.bhspecialty.com) provides commercial property, casualty, healthcare professional liability, executive and professional lines insurance and programs for customers across the U.S. It underwrites on the paper of Berkshire Hathaway's National Indemnity group of insurance companies, which hold financial strength ratings of A++ from AM Best and AA+ from Standard & Poor's. Based in Boston, Berkshire Hathaway Specialty Insurance has regional underwriting offices in Atlanta, Chicago, Los Angeles and New York.

For more information, contact Greg Hamlin at 917-960-2416 or [email protected].

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