Navigation Links
Darwin Introduces New Managed Care Corporate Liability Insurance
Date:3/9/2008

Single, Integrated Policy Provides E&O, D&O, EPL, Fiduciary, Media, Network

Security and Data Privacy Coverage

FARMINGTON, Conn., March 10 /PRNewswire-FirstCall/ -- Darwin Professional Underwriters, Inc. (Darwin), (NYSE: DR) has introduced a new multi-coverage corporate liability insurance product for managed care organizations. In a single, comprehensive policy, Darwin has integrated the following coverage parts, which are critical to address managed care organizations' management and corporate liabilities:

-- Professional services errors and omissions (E&O) liability

-- Directors and officers (D&O) liability

-- Employment practices liability (EPL)

-- Fiduciary liability

-- Media liability

-- Network security and data privacy

(Logo: http://www.newscom.com/cgi-bin/prnh/20060829/NETU014LOGO )

Darwin's managed care corporate liability coverage simplifies the insurance purchasing process for managed care organizations and service providers. The policy is the first of its kind; it offers coverage for the wide scope of professional services that managed care organizations provide. Examples of the policy's unique features include supplemental coverage for privacy breach notification and credit monitoring costs, no exclusions for regulatory claims, antitrust, bankruptcy, or electronic data processing, and coverage for loss of medical and non-medical personally identifiable information, including Health Insurance Portability and Accountability Act (HIPAA) fines, fees, and penalties.

The policy offers duty-to-defend coverage on an excess and surplus lines basis, with standard terms that include punitive damages coverage (most favorable venue), third-party liability, final adjudication coverage, and a range of other distinctive features. As with all of Darwin's insurance products, the managed care corporate liability policy includes a value-added risk management program that educates policyholders in current and effective loss prevention planning.

Managed care service providers eligible for coverage include, but are not limited to, independent physician associations (IPAs), physician hospital organizations (PHOs), administrative service organizations (ASOs), case and disease management providers, credentialing verification organizations (CVOs), management service organizations (MSOs), peer review service organizations (PRSOs), rental network entities, third-party administrators (TPAs), and utilization review organizations (UROs) with $25 million or less in annual revenues and with limits of up to $5 million available.

"Our goal in developing this product was to significantly simplify the coverage procurement process and to offer a state-of-the-art product through the integration of multiple insurance coverages into one policy for the benefit of agents, brokers, and insureds," says Cindy Oard, vice president, health care management liability underwriting. "While other markets have combined portions of coverages, this policy was designed to go well beyond any of those combinations. The policy has been constructed specifically to cover a managed care organization's service provider-related exposures. In fact, the professional E&O coverage is significantly more inclusive than traditional managed care E&O coverage -- the policy is like nothing this market has seen before. We believe we have created an approach to this buying segment that cannot be ignored."

Important Information

Coverage descriptions in this press release are summaries only; all coverages will be determined by the policy as issued. Policies are available only through licensed surplus lines brokers. Additionally, this press release may contain projections, comments, and other forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Each forward looking statement is based on Darwin's plans and expectations, as well as on current events and industry trends. Such statements are subject to risks and uncertainties, and the actual outcomes or results may differ materially from those expressed or implied by any of these statements.

About Darwin Professional Underwriters, Inc.

Darwin is a specialty insurance group based in Farmington, Connecticut. The company is focused on the professional liability insurance market and underwrites directors and officers ("D&O") liability for public and private companies, errors and omissions ("E&O") liability insurance, medical malpractice liability insurance, and other specialty coverages. Darwin member companies include Darwin Professional Underwriters, Inc., Darwin National Assurance Company (DNA), and Darwin Select Insurance Company (Darwin Select). DNA and Darwin Select have earned a financial strength rating of "A- (Excellent)" from A.M. Best Company. Darwin is traded on the New York Stock Exchange under the ticker symbol, "DR." For more information about Darwin, visit http://www.darwinpro.com.


'/>"/>
SOURCE Darwin Professional Underwriters, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Darwin to Announce Third Quarter 2007 Financial Results
2. Darwin Professional Underwriters, Inc. Reports Record Net Income of $8.4 Million for the Third Quarter
3. Darwin to Present at the Credit Suisse Insurance Conference on November 15, 2007
4. Darwin to Announce Fourth Quarter and Year-end 2007 Financial Results
5. Darwin Enters into Marketing Partnership with Agency Specialty Product Network
6. Darwin Introduces Enhancements to its Lawyers Professional Liability Insurance Policy Including Privacy Wrongful Acts and More
7. Darwin Professional Underwriters, Inc. Reports Record Net Income of $10.9 Million for the Fourth Quarter
8. Delta Dental of Illinois Introduces Smile Smart For Your Health
9. Highmark Blue Cross Blue Shield Introduces New Health Plan Comparison Tool for Consumers
10. Highmark Blue Shield Introduces New Health Plan Comparison Tool for Consumers
11. Sentillion Introduces Affordable Next Generation Healthcare Single Sign-On Solution Called expreSSO(TM)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/12/2016)... , ... February 12, 2016 ... ... today announced a new initiative—the Siemens Foundation-PATH Ingenuity Fellowships—to develop the advanced ... will recruit top students from U.S. universities who will draw from Siemens’ ...
(Date:2/12/2016)... ... ... Each year, the American Physical Therapy Association (APTA) offers a Combined Sections ... Center. Almost 10,000 physical therapists across the country are expected to attend this annual ... chosen field and network with their colleagues. As in years past, HydroWorx is ...
(Date:2/12/2016)... ... February 12, 2016 , ... The ThedaCare Center ... Francisco General Hospital on April 5-7. The series is a multi-day, multi-workshop event ... The workshops cover a broad range of topics, including coaching skills, the scientific ...
(Date:2/12/2016)... ... February 12, 2016 , ... AssureVest Insurance Group, a locally owned ... charity drive that will raise funds earmarked to purchase computers and software for Mrs. ... , “My school is in a low-income area and has more than 60 2nd ...
(Date:2/12/2016)... ... February 12, 2016 , ... Young Asset Protection, a full ... of the latest charity campaign in their community enrichment program. Art Expression utilizes ... worthy cause are currently being accepted at: http://artexpressioninc.org/ . , Art Expression ...
Breaking Medicine News(10 mins):
(Date:2/12/2016)... ALEXANDRIA, Va. , Feb. 12, 2016   ... Douglas Hoey , RPh, MBA issued the following statement ... analysis released by the Centers for Medicare ... concerns raised by NCPA, beneficiary advocates and others: ... have raised. We are still reviewing the full CMS ...
(Date:2/12/2016)... 2016 /PRNewswire/ - Demers Ambulances announces its first delivery in the ... Okaloosa County Emergency Medical Services (EMS) consisting of ... LT2 van. Quality Emergency Vehicles in Lecanto, FL ... sale.  This is the latest in Demers, ongoing expansion of ... at Demers. --> Benoit LaFortune , Executive Vice ...
(Date:2/12/2016)... Feb. 12, 2016  Memorial Hermann Health System has ... Howard to bring a one-of-a-kind experience to pediatric ... cutting-edge technologies such as 360-degree video and Google Cardboard, ... then literally – giving the patients and their families ... was all caught on video . ...
Breaking Medicine Technology: