Beazley is launching a new comprehensive insurance solution for technology-enabled healthcare and lifestyle management services in Canada.
The new Virtual Care solution will help protect telemedicine providers from the risks associated with offering digital healthcare, covering gaps in coverage for such specialized services. The package features medical malpractice and professional indemnity; tech and media liability; public and products liability; as well as cyber coverage and services through Beazley Breach Response Services.
Virtual Care also has optional extensions, covering for mitigation costs, abuse and harassment liability, and medical regulatory costs. There is also a coverage extension for claims due to loss of documents or reputational damage costs, as well as environmental liability costs.
“Advancements in technology are driving the evolution of healthcare provision as well as changing public attitudes around accessing care remotely and monitoring personal health and wellbeing. With this comes potential risks from the shortcomings of data or the health advice provided, or due to errors or malfunctions in the technologies themselves. Data privacy and security concerns are also top of mind for many providers,” commented Beazley global head of miscellaneous medical & life sciences Evan Smith.
“Beazley Virtual Care addresses the complexity of these risks by providing healthcare and tech specialists with seamless cover in one policy that avoids policy gaps and ensures that, should they arise, claims are efficiently managed by one dedicated team of Virtual Care claims specialists,” Smith added.
A release said that the insurance package is targeted at a wide range of organizations, and businesses such as telehealth, m-health, as well as lifestyle and wellness technologies.
Apart from launching Virtual Care in Canada, Beazley is also introducing its BioSecure solution in the region. BioSecure is a package aimed at pharma, biotech, and medica device companies who need protection against specialized exposures in the life sciences sector. Coverages in the package include product liability, professional indemnity, general liability, clinical research services, medical malpractice, and clinical trials.
