Marsh launches excess med mal policy form
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Marsh L.L.C. is introducing a new excess medical professional liability policy form, the broker said Monday.
Features of the new MedPREX policy form include a managed care errors and omissions coverage grant, which allows for coverage that is typically only available as a separate policy; unaggregated excess limits, where primary limits are unaggregated; a broad definition of batch claims, which allows for more effective coverage for catastrophic health events; and favorable claim reporting and sexual misconduct language, Marsh said in a statement.
Because the medical professional liability market “consists of dozens of excess policies each with different, yet valuable, terms and conditions, our clients are left to pick and choose or tack on multiple endorsements to obtain the broad coverage they seek,” Dan Phillips, Marsh’s Chicago-based health care professional liability placement leader, said in the statement. “With MedPREX, we combine the beneficial elements of many existing MPL offerings, giving clients the coverage they want in a single policy.”
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