Sullivan Brokers Enhances Healthcare Provider Program, Adds Cybersecurity Coverage
Sullivan Brokers has launched an enhanced program that offers first party protection specifically tailored to address the exposures healthcare providers face when presenting claims to public or private insurers.
The enhanced Practice Shield program now includes an expanded list of eligible classes, a revised policy with a broadened definition of insured, available prior acts coverage, a separate per physician limit for designated classes, a zero retention available on most risks, as well as competitive rates, experienced underwriting and claims staff, and short new business and renewal applications.
In addition, cybersecurity coverage can be added to the policy with limits up to $1 million.
“Healthcare entities are exposed to fines, penalties and defense expenses arising from allegations of fraud or overbilling by Federal and State audits that have generated recoveries in excess of $2.3 billion annually,” said Thom Smith, president of Sullivan Brokers. “In most cases, these are ‘David and Goliath’ conflicts, where the healthcare entity is fighting the full force of the government, in which even innocent mistakes when submitting claims, such as miscoding, trigger fines and penalties that can run in the tens of thousands of dollars.”
Sullivan Brokers is a member of the Sullivan Group and has long specialized in the healthcare industry.