Reinsurance News

Ascent Underwriting launches liability cover for healthcare professionals

24th January 2018 - Author: Staff Writer

Managing general agent Ascent Underwriting has announced the launch of a professional liability product for allied health practitioners and facilities in the U.S.

Ascent’s Allied Health product combines comprehensive cyber cover, Regulatory Billings coverage and medical liability insurance for healthcare professionals under a single policy.

Gareth Tungatt, Chief Underwriting officer at Ascent, said; “the allied healthcare landscape is extremely varied, encompassing services ranging from hydrotherapy to home health and out-patient clinics. Each poses its own unique set of risks, so it is vital for any entity or practitioner to have robust and relevant insurance.”

The new cover can be arranged and bound through conventional broker channels and via Ascent’s award-winning quote-and-bind platform, OPTIO.

In addition to professional liability exposures, the full product covers healthcare data protection risks and the business risks associated with non-compliance with HIPAA billing legislation.

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Development of Ascent Allied Health was led by healthcare underwriter Ben Wilson, who joined Ascent in 2017 to help expand the MGA’s specialist insurance offering for the industry.

Tungatt said; “we hired Ben to spearhead our development in the sector and his work on the product greatly enhances our ability to meet client needs, by offering three key coverages on a single form.

“This is the first of several new products we have in the pipeline following significant private equity investment in November.”

Ascent has a growing presence in the U.S. healthcare market, including relationships with a large number of healthcare facilities and practitioners through its CyberPro and Regulatory Billings E&O products.

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