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 Allied Health can include comprehensive cyber cover and Regulatory Billings E&O protection for healthcare professionals under a single policy.
Delivery is also unique. Ascent Allied Health can be arranged and bound in the US through OPTIO, Ascent's award-winning quote-and-bind platform, as well as through conventional broker channels.
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 on the drawing board, to realise the full potential of our successful OPTIO distribution platform following significant private equity investment in November."