Directors and officers of healthcare providers have tremendous responsibilities to their patients, employees, creditors, bondholders, vendors and communities. With these responsibilities comes the pressure to deliver the highest quality care while also making difficult decisions to ensure the long term well-being of their facilities. These decisions could not only jeopardize the continuance of their facilities, but can also put their own personal assets at risk
The healthcare environment is rapidly changing and presenting new and unique exposures on a daily basis. Beazley Remedy is the newest offering that gives directors and officers the coverage they require to operate their facilities while also giving them peace of mind knowing that they are adequately covered and protected in this ever changing healthcare landscape. Beazley Remedy offers coverage against a wide range of potential healthcare specific claims while also offering a wide array of coverage enhancements.
Loss scenarios: A New England hospital sent a pregnant patient to another hospital’s emergency room without having her first examined by a physician. Department of Health officials determined that this was a violation of the Emergency Medical Treatment and Labor Act (EMTALA), as unstable patients are required to be seen by a physician prior to being transferred to other facilities. Defense costs, fines and penalties exceeded $250,000.
A small hospital saw revenues drop due to new competing facilities. It’s primary creditor withdrew over $1 million from the hospital’s operating account leaving the hospital with no way to cover expenses and forcing them to declare Chapter 11 bankruptcy.
Boston, MA, USA
+1 (617) 239 2626
Email Jack
Chicago, IL, USA
+1 (312) 476 6271
Email Scott
Boston, MA, USA
+1 (617) 239 2618
Email Kerri
Chicago, IL, USA
+1 (312) 476 6218
Email Rhani
London, UK
+44 (0)20 7674 7155
Email Adam
London, UK
+44 (0)20 7674 7829
Email Elena