Specialist insurer Beazley has brought its healthcare liability offering to Spain with the launch of its innovative Virtual Care cover and standalone medical malpractice insurance.
Available through brokers, Beazley Virtual Care provides protection against a wide array of risks associated with the provision of technology-enabled healthcare and wellness services.
Beazley Virtual Care is designed to provide comprehensive cover for a wide variety of clients including out-of-hours services, primary healthcare providers, clinical research organisations, home and behavioural health providers, dermatologists and pharmacies.
The cover provides medical malpractice and professional indemnity cover as standard, and can be extended to include:
- Technology products, technology errors & omissions and media liability
- Beazley Breach Response cyber cover
- Products liability
Beazley’s long-established medical malpractice cover is also now available in Spain as a standalone product providing protection for healthcare providers against claims arising from actions taken in their service.
Evan Smith, global head of miscellaneous medical and life sciences at Beazley, said: “COVID-19 has demonstrated the growing importance of tech-enabled healthcare delivery – from providing remote medical consultations to devices that help people to monitor own their health and wellness. The pandemic has also hastened the development of new services, accessibility and apps, which are supporting the move out of lockdown more rapidly.
“However, managing health remotely creates new exposures including poor advice based on flawed data, or malfunctioning technology that gives incorrect readings or leads to misdiagnosis, for example. It also creates data privacy and security risks.
“Healthcare provision has always carried risk and as medicine has advanced, expectations have grown and tolerance for errors has diminished. Beazley Virtual Care is designed to respond to the interconnected liabilities facing the sector in addition to more ‘traditional’ medical malpractice and professional indemnity risks.”
The launch in Spain follows the successful rollout of Virtual Care in the US, Canada and the UK and builds on Beazley’s ambition to be a leading provider of specialist healthcare liability products globally.
Ana Misol Dymling, Beazley underwriter and Virtual Care lead for Spain, said: “Beazley’s medical malpractice and Virtual Care policies provide protection against healthcare liability as well as cyber and tech-related risks that face both traditional healthcare organisations and tech-led health and technology providers in Spain.”
The digital health market includes a variety of new technologies. Telehealth services include remote diagnosis and monitoring by health professionals. M-health products include remote self-monitoring apps and wearables for sufferers of chronic conditions, and lifestyle and wellness technology that supports healthy lifestyle choices. These new services and products rely on a range of IT tools, software, analytics, platforms, portals and equipment.
Limits on Beazley Virtual Care and medical malpractice are €15m.