Ascent expands healthcare proposition with innovative Allied Health professional liability product
Ascent Underwriting, the specialist niche-product managing general agent, today announces the launch of a professional liability product for allied health practitioners and facilities in the US. Unique in the market, Ascent’s Allied Health product includes a combination of comprehensive cyber cover, Regulatory Billings coverage and medical liability insurance for healthcare professionals under a single policy.
Ascent Allied Health can be arranged and bound through conventional broker channels and via Ascent’s award-winning quote-and-bind platform, OPTIO.
Ascent Allied Health is a comprehensive product that addresses the broad range of risks faced by practitioners across the diverse care services and complementary medical sectors. In addition to professional liability exposures, the full product covers healthcare data protection risks and the business risks associated with non-compliance with HIPAA billing legislation.
Development of Ascent Allied Health was led by healthcare underwriter Ben Wilson, who joined Ascent in 2017 to help expand the MGA’s specialist insurance offering for the industry. Ascent has a growing presence in the US healthcare market, including relationships with a large number of healthcare facilities and practitioners through its CyberPro and Regulatory Billings E&O products. The addition of Allied Health, which is available on a combined or stand-alone basis, will further build Ascent’s presence in this specialist area.
Gareth Tungatt, Chief Underwriting officer at Ascent, said: “The allied healthcare landscape is extremely varied, encompassing services ranging from hydrotherapy to home health and out-patient clinics. Each poses its own unique set of risks, so it is vital for any entity or practitioner to have robust and relevant insurance.”
“We hired Ben to spearhead our development in the sector and his work on the product greatly enhances our ability to meet client needs, by offering three key coverages on a single form. This is the first of several new products we have in the pipeline following significant private equity investment in November.”
ENDS
Media contact
Richard Adams
Haggie Partners
+44 (0)20 7562 4444
About Ascent Underwriting
Ascent is a specialist Managing General Agent underwriting on behalf of a number of Lloyd’s Syndicates. It provides innovative insurance solutions face-to-face, and via a proprietary electronic underwriting platform. Ascent believes that all insurance products should be complemented by value-added solutions, and therefore partners with other professionals, including risk assessors, forensic experts, and proactive claims management companies, to assist clients in making informed choices and ensuring the claims process is smooth and efficient.