Specialist managing general agent Ascent Underwriting L.L.P. on Wednesday said it has increased the limits on its CyberPro medical billings errors and omissions product up to $5 million.
CyberPro, which was launched in December to offer financial protection against U.S. health care billing and coding regulation violations, now includes coverage for qui tam investigations and reputational harm, the MGA said in a statement. Coverage for full prior acts is also available, according to the statement.
“Although most practitioners have invested heavily in new technology and revised business procedures, they are still at risk of fines and prosecutions resulting from incorrect health care claims billing, coding or processing,” Gareth Tungatt, chief underwriting officer at London-based Ascent, said in the statement.
As well as the placement of individual risks, Ascent can now offer reinsurance solutions for other insurers that want to offer medical billings and cyber coverage, according to the statement.