Tuesday, June 11, 2013

Healthcare Information from The Hartford

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The Hartford / Business Insurance / Industries / Healthcare Practices

Healthcare Practices

You Take Care of Your
Patients. We’ll Help You Take
Care of Your Business.

Customized business insurance solutions for the healthcare industry
 
Comprehensive and tailored Insurance protection from The Hartford is specially designed for healthcare organizations like yours. Whether you run a small practice – or manage a large facility – our innovative solutions are tailored to meet your unique needs.

Find Solutions for Your Healthcare Organization

Healthcare Professional Liability

Medical Professional Liability Insurance Healthcare practices have unique needs – and little time to think about business insurance. That’s why The Hartford makes insurance easier with comprehensive, customizable solutions designed to keep your practice running strong.
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Healthcare Providers

Hospital Insurance Whether you manage a hospital or long-term care facility – or a group practice, medical lab, or imaging center – The Hartford has years of experience in designing coverage packages that meet the needs of your unique healthcare facility.
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What’s Your Risk?

Common Risks for Healthcare Practices Get a better understanding of common insurance risks in the healthcare industry.
Learn more
Explore Insurance Solutions
The Hartford’s expertise in serving the business insurance needs of the healthcare industry has informed our development of unique, specialized solutions for your business.
Medical Equipment Coverage
Medical equipment is expensive – and vital to your healthcare practice or facility. That’s why property insurance from The Hartford goes beyond the basics of covering your computers and phone systems – but also covers breakdowns of your specialized medical equipment, such as MRIs and CT scan machines.
More on property insurance
Business Interruption Insurance
A property loss for a medical practice can mean a loss of earnings during the restoration period. But property insurance from The Hartford is designed to protect your business income with hassle-free business income insurance coverage – helping to compensate you for your lost income following a claim.
More on property insurance
Employment Practices Liability Insurance
Employment related claims are serious business. Liability insurance from The Hartford helps protect you from the expense of employment lawsuits such as those pertaining to discrimination, harassment, and wrongful termination.

Data Breach Coverage
Having the trust of your patients is critical to the success of your business. Protect their privacy – and your practice – with data breach coverage from The Hartford.
More on data breach coverage
More on liability insurance

Other Medical Practice Insurance

Employee Insurance for the Healthcare Industry

Learn more about our group benefits products and services, designed to meet the unique needs of your organization.
A Healthy Outlook
The Hartford believes in being proactive about health issues that impact all of us. For that reason, we are an EPA Climate Leader and proud participant in the EPA Energy Star program.
All coverages and services may not be available for all businesses or in all states. For details on what coverages and services are available to you, contact your agent today.
This site outlines in general terms the coverages and services that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty or life and accident insurance company subsidiaries of The Hartford Financial Services Group, Inc.

Medical Professional
Liability Insurance

As if caring for patients wasn’t enough, your practice needs constant attention to stay profitable and healthy. From business insurance to employee benefits—you need a provider that speaks your industry language. And knows exactly what you need to protect.
The Hartford was one of the first national carriers to create specialized coverage for medical professionals and today, we’re leading the market in outpatient healthcare with over 125,000 customers. Whether you work alone, have a group practice or run a medical lab—you can feel confident that your employees and business are getting the care they need.

Business Insurance for Your Practice

The Hartford’s expertise in serving the insurance needs of physicians, dentists, and other medical professionals has informed our development of unique, specialized solutions for outpatient healthcare practices.
Workers’ Compensation Insurance
Our customized workers’ compensation insurance is tailored to the meet the specific needs of physicians and dentists, with special programs like Needle Stick Reimbursement.

Needlestick Reimbursement Program

The threat of becoming infected from an accident at work involving a needle stick or other sharp medical device is an on-going concern for many healthcare employees. Needlestick injuries should be a top safety concern since they could put your workers at high risk of contracting a blood borne infectious disease. How a sharp injury claim is handled can make a big difference to the injured person and your practice. That's why The Hartford offers a unique program on our Workers' Compensation insurance to help protect employees and your practice.
More on Needlestick Program
The program covers payment for initial testing of your employee and, when the source patient is known and consents, reimburses for testing the source patient. Reimbursement for source patient testing may save your practice money and help determine more quickly if your employee was exposed to any blood borne illnesses.
Importantly, if testing reveals the source patient has a blood borne infectious disease, The Hartford's Workers' Compensation program will work with your employee to obtain prophylaxis treatment in accordance with current Center for Disease Control protocol depending on the source patient results.
More on workers’ compensation
Property Insurance
The Hartford’s property insurance coverage is tailored to meet the needs of your healthcare practice. In addition to safeguarding your assets, unique coverages for medical equipment and business interruption insurance help protect your practice from damage.

Medical Equipment Coverage

Medical and dental equipment is expensive – and vital to your practice. This coverage protects the equipment in your office from power surges and mechanical breakdown. Coverage includes electrical arcing or artificial electric current and breakdown of computer equipment, phone systems, video systems, and medical equipment such as digital x-rays, CT scans, MRIs, etc.

Business Interruption Insurance

A property loss for a medical practice can mean a loss of earnings during the restoration period. But property insurance from The Hartford is designed to protect your business income with hassle-free business interruption insurance coverage – helping to compensate you for your lost income following a claim. Standard business interruption coverage includes:
  • Business Income - Reimburses you for up to 12 months for your actual loss of business income resulting from a covered loss to property at your covered location. 
  • Extra Expense - Covers extra expenses needed to continue your operations, such as renting temporary office space while operations are suspended.
Additional business interruption coverage options include:
  • Business Income for Interruption of Practice - Reimburses earnings up to a specified daily limit for the first 15 days of loss. During this period, no earnings documentation is required to recover income from canceled patient appointments- making the claims experience hassle-free.
  • Daily Limit Options - Provides additional flexibility in the calculation of business income loss at the time of a claim
  • Dependent Properties - Insures against loss of income if:
    • A major supplier suffers a covered loss to their property and cannot provide the materials you need to provide your service
    • Your patients are unable to accept your products because of a covered loss to their property
  • Electronic Vandalism - Safeguards your practice against loss of income or extra expense due to:
    • Website and internet service interruption
    • Denial of service attack
    • Website vandalism
  • Forgery - Protects you against loss if others alter your checks, credit card receipts or bank drafts
More on property insurance
Business Liability Insurance
Business liability insurance is a critical protection that can help your business stay intact. Slip and fall accidents can happen anywhere – and lawsuits can be a tremendous financial drain on your practice. The Hartford's business liability insurance goes above and beyond the liabilty basics with added coverages such as employment practices liability and optional coverages for data breach protection.

Employment Practices Liability Insurance

Employment related claims are serious business. Liability insurance from The Hartford helps protect you from the expense of employment lawsuits such as those pertaining to discrimination, harassment, and wrongful termination.
More on Employment Practices Liability Insurance

Data Breach Insurance

Having the trust of your patients is critical to the success of your practice. And any practice that stores personal patient information is at risk for a data breach. A data breach can negatively impact your patients’ trust and practice’s reputation. This coverage gives you peace of mind that should data be lost, stolen, or accidentally made public, The Hartford will be here to help you cope with the costs of notifying your impacted patients, public relations, legal defense, and good faith advertising. Plus, our data breach experts will assist you every step of the way during and after the breach crisis.
More on liability insurance
More on data breach coverage

Employee Benefits for Your Practice

Your practice is unique. Your income protection package should be too. Whether you're a physician, dentist or chiropractor, you have unique skills, abilities and risks that require special consideration and protection. The Hartford provides this through specialized coverage and flexible underwriting. Here are some highlights:

Enhanced Long Term Disability

Designed specifically for physicians, our enhanced long term disability contract includes additional protection such as an infectious and contagious disease benefit, and a progressive illness benefit.
More on long term disability

Dedicated Specialists

From underwriters to claims and service specialists, your income replacement needs will be handled by seasoned professionals who understand the healthcare industry.

Services for Physicians and their Families

Estate guidance, grief counseling, and legal support are just a few of the value-added services designed to help health professionals and their families cope after a disabling event or loss.
More on value-added services

Common Claims

The pie chart below breaks down healthcare practice claims by coverage type. For information on how to prevent losses at your practice, view these safety tips for healthcare practices.

 Healthcare Practice Claims by Coverage Type

Products for Healthcare Practices

The following products may be appropriate for your healthcare practice:

Business Insurance

Employee Benefits

All coverages and services may not be available for all businesses or in all states. For details on what coverages and services are available to you, contact your agent at The Hartford today.
This site outlines in general terms the coverages and services that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty or life and accident  insurance company subsidiaries of The Hartford Financial Services Group, Inc.

Healthcare Providers

Healthcare Providers and
Hospital Insurance

The healthcare industry is not one size fits all. That’s why The Hartford has developed customized insurance and employee benefits offerings with the unique needs of your business, your employees, and your patients in mind.  Whether you operate a hospital, a long term care facility, or an outpatient healthcare service such as a medical lab or imaging center, you can be sure that our coverage is designed with you in mind.
The Hartford’s years of experience in serving the healthcare industry has informed our customized insurance coverages, specifically designed for the needs of hospitals and other healthcare facilities.
Property Insurance
Our property insurance for healthcare facilities includes our enhanced Property Choice® to protect your property and business income. Property coverages particularly appropriate for hospitals and care facilities include:
Communicable Disease Coverage
Handles the cost to clean up contaminated buildings or property, as well as resulting business income loss, in the event a government health authority has issued an advisory about an outbreak of a specific disease.
Mandated Decontamination Coverage
Pays to test for, clean up, remove, restore or replace covered property, as well as resulting business income loss, to comply with an ordinance or law that requires you to test for, clean up or remove pollutants.
Condemnation of Undamaged Stock Coverage
Pays for visibly undamaged drugs, biologicals, medical devices or medical supplies that have been condemned, or are subject to a written request that they be withheld from market, by a government authority.
Radioactive Contamination Coverage
Covers loss or damage resulting from accidental radioactive contamination or resulting radiation damage to the facility.
Patient or Resident Evacuation Coverage
Reimburses you for expenses you incur for the emergency evacuation of patients or residents in response to potential harm.
Personal Effects of Patients or Residents Coverage
Covers damage to or theft of personal property, other than money or securities, belonging to patients.
More on property insurance
Management and Professional Liability Insurance
The Hartford offers valuable and sought-after management and professional liability insurance coverages in our Private Choice Encore® product, tailored to meet the needs of hospitals and healthcare facilities of all sizes.
Directors and Officers Coverage
Protects directors and officers of healthcare organizations and certain volunteers, trustees, and faculty against loss (damages and defense cost) arising out of their status or conduct.
Employment Practices Liability Coverage
For claims arising out of employment practice disputes, this coverage protects healthcare facilities from resulting damages and defense costs. Common claims allege discrimination, sexual harassment wrongful termination and wrongful discipline.
Fiduciary Coverage
For claims that arise from the administration of specified employee benefits plans provided to employees and retirees of healthcare organizations.
Crime Coverage
Protects healthcare organizations against losses from theft, employee dishonesty, and other related exposures.
Kidnap & Ransom Coverage
For protection of hospital and healthcare facility employees, at home and while traveling abroad.
More on management and professional liability
Additional Business Insurance Products for Healthcare Facilities
The following business insurance products may also be appropriate for your healthcare facility:
  • Workers’ Compensation Insurance
  • General Liability Insurance
  • Data Breach Coverage
  • Umbrella Insurance
  • Commercial Auto Insurance
  • Loss Control
Group Benefits for Healthcare Facilities
Now more than ever, busy inpatient care facilities like yours are taking a hard look at their costs while addressing complex needs. Like retaining a qualified staff of diverse workers. Reducing absenteeism. And boosting productivity and operational efficiency. How do you do it all? The Hartford offers a suite of insurance products—from group disability to life and accident—to help you reach your goals.
A clinical approach to claims
Employees can initiate claims by phone, eliminating paperwork. And when they do, they're assisted by an experienced nurse from start to finish. Nurses reach out to their physicians, ensuring that claims decisions are fair, based on accurate medical information.
Professional return-to-work assistance
At The Hartford, we believe in supporting people's abilities in any circumstance. Employees with disabilities are assisted by trained return-to-work coordinators to help them get back on payroll safely and, in many cases, weeks before their doctors predict.
Integrated leave management
Your facility can opt to have us manage all of your employee leaves—from workers' compensation to family medical leave and employer-paid leaves.
A choice of payment options
You can opt for employee-paid (voluntary) plans as well as traditional employer-paid arrangements.
More on group benefits

Employee Benefits Products for Healthcare Facilities

Employee Benefits
  • Leave Management
  • Group Disability Insurance
  • Life and Accident Insurance
  • Retiree Health Coverage
  • Employer-Sponsored Retirement Plans
All coverages and services may not be available for all businesses or in all states. For details on what coverages and services are available to you, contact your agent at The Hartford today.
This site outlines in general terms the coverages and services that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty or life and accident insurance company subsidiaries of The Hartford Financial Services Group, Inc.
All coverages and services may not be available for all businesses or in all states. For details on what coverages and services are available to you, contact your agent at The Hartford today.
This site outlines in general terms the coverages and services that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty or life and accident  insurance company subsidiaries of The Hartford Financial Services Group, Inc.

Common Risks

Common Risks for Healthcare Practices

Spend time on what matters most - caring for your patients. Let The Hartford give you the confidence to practice knowing that you, your employees, and your practice are properly insured. Do you know what your current business insurance policy covers?
Below are examples of common risks to healthcare practices and our solutions.
Your Risk
Our Solution
Prior to a root canal procedure, your assistant accidentally sticks herself with the needle after giving the patient a Novocain injection.
Workers' Compensation
Covers the initial costs for testing your employee and the source patient (not all Workers' Compensation insurance reimburse for patient testing). In addition, it may also include payment for employee treatment, according to The Center of Disease Control guidelines, if testing results reveal the source patient has HIV, Hepatitis B or Hepatitis C.
You hire a temp while your billing clerk is on vacation. During his lunch break, unaware that it is against office policy, the temp surfs the internet. After you address the incident, you are unable to access your online patient records because a virus as a result of the temp's surfing has infected the system.
Computers and Media Insurance
Protects your investment in computer technology by reimbursing you for...
  • Physical loss or damage to your computer hardware;
  • Loss of or damage to data or computer software - including electronic patient records
  • Damage caused by computer virus or denial of service attack, head crash or theft (including loss off-premises)
A new hire is having difficulty working with your longer-term employees and you terminate her. She is 57 years old and files suit for wrongful termination - claiming age discrimination.
Employment Practices Liability Insurance*
Coverage includes legal defense costs, for certain employment-related lawsuits brought against you by your employees or job applicants.
A windstorm damages overhead transmission lines, leaving your practice without electricity. You are unable to see patients for days.
Business Income Extension for Off-Premises Utility Services Insurance
Reimburses actual loss of earnings for a maximum of 12 consecutive months, as well as extra expenses needed to continue business operations during the period of restoration resulting from a covered property loss.
Over a long weekend, a sprinkler leak has caused extensive damage. You are unable to see patients for 4 days and must reschedule appointments.
Business Income for Interruption of Practice
Reimburses earnings up to a specified daily limit for the first 15 days of loss. No earnings documentation is required to recover income from canceled patient appointments during this period. After the first 15 days of loss, coverage is for the actual loss of income. There are a variety of optional daily limits, so you can select the level of coverage that's right for your practice.
Your office manager is diagnosed with carpal tunnel syndrome due to work-related repetitive motion (eg: data entry).
Workers' Compensation
We help your injured workers obtain quality care, providing access to over 500,000 healthcare providers and nearly 53,000 retail pharmacies nationwide. Our return-to-work program assists your injured employees in getting back to work as soon as medically appropriate. We also have nurse case managers available to handle complex cases.
* Not available in all states
All coverages and services may not be available for all businesses or in all states. For details on what coverages and services are available to you, contact your agent at The Hartford today.
This site outlines in general terms the coverages and services that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc.

Existing Customer?

Business Insurance Customers
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Group Benefits Employers
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What’s Your Risk?

Get a better understanding of common insurance risks in the healthcare industry.
Learn about common risks

Which Products are Right for You?

Our healthcare practices coverage finder can help.
Use Coverage Finder

Help Protect Your Reputation

These 10 tips can help to reduce your risk of a data breach.

Learn more
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