1. Healthcare Management Liability Program
Directors & Officers Liability
Employment Practices
Fiduciary

2. Beazley Remedy Policy Product features
By combining the expertise of its management liability and healthcare teams, Beazley Group has developed enhanced management liability coverage that is precisely tailored to the needs of healthcare organizations. The Beazley Remedy policy is highly flexible, enabling clients to select combined or separate limits under any or all of the four insuring clauses on an admitted or a surplus lines basis.
Product features
Directors and Officers Liability
Affirmative antitrust language
Failure to perform provider selection, credentialing or peer review activities
Regulatory Liability
Governmental return of funds claims including False Claims Act, Stark and anti-kickback allegations
Civil fines and penalties coverage or defense only options
Employment Practices Liability
Flexibility in choice of counsel
Broad definition of insured person including independent contractors, medical directors, staff physicians and faculty members
Access to BeazleySure* loss control services for employment practices clients
Fiduciary Liability
Limits available
Up to US $20,000,000
Target Classes
Hospitals, academic medical centers and long term care facilities

3. Premier Member Program Enhancements
Premier amendatory coverage enhancement – Suite of coverage policy wording amendments added to all Premier member policies at no additional premium. (see next slide for all amendments)
Wage & Hour Defense sub limit – Defense expense sub limit of $150,000 automatically included without the required wage & hour  application at no additional premium.
Automatic Increased policy sub limits without additional underwriting at no additional premium for the following:
EMTALA: $1MILLION (standard offering is $250,000)
HIPAA: $1MILLION (standard offering is $100,000)
IRS Claims : $1MILLION (standard offering is $50,000)
Reduced Retention for Regulatory Defense Coverage – Regulatory Defense Retention will be reduced from the standard $1MIL retention.  This reduction will be provided without additional underwriting at no additional premium.
$500,000 Sub Retention for Premier Member Insureds with under $1BILLION in gross revenue
$750,000 Sub Retention for Premier Member Insureds with over $1BILLION in gross revenue
Claims onboarding call – Initial post binding call with the Premier member Insured, and a representative from Beazley claims to discuss claims handling, reporting, etc.  This will allow the Premier member Insured to gain a level of comfort with Beazley Claims Management.
Access to BeazleySure – Service offered to D&O and EPL clients providing a number of employment and HR related services. 

4. Premier Member/Beazley Remedy Policy Coverage Amendments
General Terms and Conditions
Definition of “Application” limited to 1 year.
Benefit: Endorsement limits representations made on application to last 12 months. Upholds most current material information represented from the insured.
Amend Prior notice language to “given & accepted”
Benefit: More difficult for a claim denial based on prior reporting exclusion.
Amend notification provision – limit control group, increase reporting period to 90 days.
Benefit: 90 days reporting period over 60 days.
Increase option to elect runoff to 60 days post policy.
Benefit: Allows the Insured 60 days after the date of cancellation or expiration date to elect to purchase runoff rather than 30 days
 D&O/EPL
Amend BI/PD to “FOR” wording with clearly defined professional services exclusion.
Benefit: “For” wording would allow potential D&O coverage to the hospital related to a bodily injury. Base form holds an Absolute exclusion. The bodily injury is still excluded.
Amend Exclusion I2. Add “financial” advantage.
Benefit: This amends the exclusion to read “financial advantage” vs “advantage,” which limits the exclusion, therefore broadening coverage.
Amend Exclusion I to final non-appealable adjudication of the underlying action
Benefit: Amends final adjudication all the way through the appeals process and civil cases related to the same underlying action.
Remove Settlement Clause
Benefit: Insurer cannot settle a claim without the consent of the Insured.

5. Premier Member/Beazley Remedy Policy Coverage Amendments (cont.)
D&O/EPL (cont.)
Addition of Advisory Board to the definition of Insured Persons
Benefit: Broadens definition of Insureds to include Advisory Board members.
Amend Insured vs Insured Carveback
Benefit: Will include former insureds after 2 years
Amend Settlement Clause to 80/20
Benefit: If insured does not consent to settle, the loss amount increases to 80% for Beazley over 70%.
Immigration Defense Sub Limit of $50,000
Benefit: Added coverage for Defense to alleged violation of Immigration Practice Law.
Fiduciary
Settlor Defense Coverage
Benefit: Added defense expenses who may act in a settlor capacity in lieu of fiduciary responsibility.
502c and 507 Penalties Endorsement of $50,000
Benefit: Adds civil penalties back into the definition of loss for violations of these two sections of ERISA.
Pension Protection Act - $50,000 Defense Sub limit
Benefit: Adds civil penalties back into the definition of loss for violations of this Act.
Section 4975 Penalty - $50,000 sub limit
Benefit: Adds tax penalty sublimit under IRC section 4975
HIPAA Sub limit - $50,000
Benefit: Adds a civil fines/penalties sublimit under the Fiduciary for HIPAA violations

6. Premier Program Administration Contacts
Dave Statis, EVP
Premier Program Director
Pat Funderburk-Black
Healthcare Management Liability Administrator