Management liability insurances may cover a wide range of exposures that you may not have considered. These are critical exposures within a healthcare-related organization. Though they don’t always involve direct contact with patients, they are no less serious to your financial security.
- Directors & Officers Insurance – protects managers of the corporation against personal liability to investors, employees, vendors, participating physicians and other provider organizations. The key D & O exposure areas include anti-competitive acts, shareholder liability, and mismanagement.
- Employment Practices Liability Insurance – protects against allegations of employment discrimination, such as acts based on gender, race, minority status, age or handicap, as well as wrongful termination. EPLI coverage provides payments for defense costs, litigation and settlements, and may be designed to cover allegations from first and third parties.
- Fiduciary Liability Insurance – addresses the duties imposed on administrators and trustees of employee benefit plans to make correct decisions in plan investment options and administration.
- ERISA Bonds – protects employee welfare and profit-sharing plans against theft of funds. The bonds are required by federal law on all qualified pension, welfare arrangements or retirement funds.
- Crime Insurance – protects the practice against certain types of theft and fraud and other related losses that threaten the practice’s financial resources.
- Billing Errors & Omissions Insurance– responds to a variety of claims, including but not limited to alleging errors regarding duplicate billing, billing for services not rendered, or for unnecessary services, upcoming, and billing for services that do not meet the standard of care.