OneBeacon Professional Partners Introduces New Hospital Professional Liability Solution
"We are excited to introduce our Hospital Professional Liability product,which delivers a full complement of coverages and services for hospitals ofall types and sizes," said Steve Spina, who oversees the company's health-carebusiness. "We now offer primary and lead excess placements. Our other targetmarkets are capacity excess and captive reinsurance for large self-insuredinstitutions, and physician programs for freestanding groups or groups tied tohospitals."
Among the product's specialized protection and features are: a broaddefinition of claim and incident triggers; a policy form that includes defenseoutside of the limits of coverage; punitive damages coverage; insuredvicarious liability coverage for medical services by nonemployedpractitioners; flexible deductible/retention options; built-in sublimits forevacuation expense and legal/media expense; and much more. In addition, itfeatures nontraditional structures such as: multiyear policies; stretchedaggregates; loss-sensitive placements and manuscript policy forms.
Tailored risk management services are another key feature of this powerfulsolution.
"Qualified customers can take advantage of telephone, fax or emailconsultations, as well as on-site risk assessments and education services,"said Paul Romano, president of OneBeacon Professional Partners. "They can alsoparticipate at no charge in our national audio conferences and in the ClientEducational Forum that we host during the annual conference of the AmericanSociety for Healthcare Risk Management."
For more information about OneBeacon Professional Partners' HospitalProfessional Liability solution, visit www.onebeaconpro.com > Products >Medical Malpractice > Hospital Professional Liability.
OneBeacon Professional Partners is a member of OneBeacon Insurance Groupthat specializes in professional liability solutions for targeted industriesincluding hospitals, managed care organizations, long-term care facilities,health-care facilities, media and lawyers. Additionally, the company providescustom products including health-care provider excess insurance and HMOreinsurance.
About OneBeacon: OneBeacon Insurance Group's underwriting companies offera range of specialty and segmented commercial and personal insurance products.As one of the oldest property and casualty insurers in the United States,OneBeacon traces its roots to 1831 and the Potomac Fire Insurance Company.Today, OneBeacon's specialty insurance products are available countrywide, andcommercial and personal lines are offered in select geographic territories.
OneBeacon's U.S. headquarters is in Canton, Massachusetts. The company ispublicly traded on the New York Stock Exchange under the symbol "OB" and is"A" rated by A.M. Best.
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This press release may contain "forward-looking statements" within themeaning of Section 27A of the Securities Act of 1933 and Section 21E of theSecurities Exchange Act of 1934. All statements, other than statements ofhistorical facts, included or referenced in this release which addressactivities, events or developments which we expect or anticipate will or mayoccur in the future are forward-looking statements. The words "will,""believe," "intend," "expect," "anticipate," "project," "estimate," "predict"and similar expressions are also intended to identify forward-lookingstatements. These forward-looking statements include, among others, statementswith respect to OneBeacon's:
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