Ironshore M&A unit streamlines health care regulatory risks productPosted On: Jun. 28, 2017 1:11 PM CST
Ironshore Inc. said Wednesday that its mergers and acquisitions and tax unit has updated its transactional liability product to address regulatory risks in the health care sector.
Ironshore now offers a single limit and single retention coverage policy to meet client demand for streamlined liability coverage for health care transactions. Capacity limits of up to $100 million are available for transactional liability risks, with extended limits for select circumstances, the insurer said in a statement.
A company spokeswoman said the initial policy that Ironshore introduced to the health care market in 2015 carried two retention levels: one for breaches of general representations and warranties, and a separate one for breaches of health care representations and warranties.
Ironshore’s M&A transactional liability coverage responds to breaches of representations and warranties to protect buyers in health care deals, including exposure related to the Federal False Claims Act, Stark Law, Anti-Kickback Statute, HIPAA/HITECH and other state-mandated health care laws.
Ironshore’s specialty health care unit, IronHealth, is underwriting health care transactions directly with a combined single limit agreement and retention level.
“Since introducing transactional liability coverage to the health care sector in 2015, the market for more easily accessible protection has matured, thereby demanding an updated solution,” Navine Aggarwal, head of Americas M&A, said in the statement. “Together, in cooperation with IronHealth, we are now offering a single limit, one-retention product.”