US based insurance broker Willis has launched the Accountable Care Organization (ACO) liability insurance policy to meet the rising demand from the health care industry.
The new product, developed in collaboration with IronHealth, will provide an enhanced solution for stand-alone ACO’s handling the risks and insurable liabilities linked with forming an ACO.
Willis said that the new product will deliver solutions comprising coverage for directors & officers liability, managed care operations liability, medical professional liability, general liability, third party privacy protection and first party privacy protection.
The coverage features also includes fiduciary liability and billing errors & omissions liability option.
Further coverage features comprise, protection against antitrust and regulatory issues, coverage for ACO handled care/claims administration services, and affirmation of the policy as primary for the ACO despite of the existence of other insurance.