Admiral’s Professional Liability department is continuing to deliver unique solutions to the insurance marketplace by adding a new Virtual Care insurance policy to its lineup of specialty professional and excess liability products. This coverage is made available exclusively by our national network of wholesale brokers.
What is Virtual Care insurance?
The rapidly evolving industry of advanced technology solutions designed to support healthcare services has created a gap in the insurance marketplace which neither a medical malpractice nor technology professional liability policy can properly address.
Drawing on our longstanding expertise in providing market leading Professional Liability insurance products for both medical and technology professionals, Admiral is bridging that gap with our Virtual Care product.
A Comprehensive Solution for Complex Risks
Our Virtual Care product is specifically designed to provide comprehensive coverage to address the unique medical, technology and cyber risks that the emerging industry of technology-based healthcare services face.
With our tailored insurance solution including medical malpractice, technology professional liability, media liability and a full suite of cyber coverages, we can help safeguard against the challenges that technology-based healthcare companies face.
Key Features & Benefits:
- Tailored Medical Malpractice Coverage: We craft a unique definition of professional services for each policyholder and have the ability to add physicians on staff to the coverage so we can tailor the medical malpractice coverage to the needs of each policyholder
- Broad Coverage for Technology Services and Products: Our policy includes a broad coverage trigger for technology services and products, contemplating financial loss, bodily injury and property damage, along with having broad definitions of technology services and technology products to ensure comprehensive coverage for various tech-related activities. This includes Artificial Intelligence (AI), Generative Artificial Intelligence (Gen AI), Machine Learning (ML)
- Flexible and Customizable Approach: We recognize that every business has distinct needs and exposures—our ability to manuscript unique coverage grants ensures that we meet the specific demands of our customers
- Comprehensive 1st and 3rd Party Cyber Coverage: Our policy provides robust protection against cyber risks, this includes:
- First Party Coverage: Protection for your own business assets, including data restoration, business interruption losses, cyber extortion, system failure, expenses related to Payment Card Industry (PCI) Investigations
- Third Party Coverage: Protection against claims from clients or other third parties affected by a cyber incident, such as data breaches, network security failures, privacy violations, and liabilities arising from regulatory proceedings and PCI Investigations
- Responsive and Expert Service: We pride ourselves on delivering exceptional service through a dedicated team of medical, tech and cyber claim and underwriting professionals, along with partnerships with industry leaders:
- With our experienced claims team dedicated to handling medical malpractice, tech and cyber claims, you will have a trusted partner by your side with the expertise and resources to navigate any situation
- We partner with a leading provider of risk management services designed for healthcare organizations, Omnisure, to provide free online assessments and support for all policyholders interested in additional resources to assess and improve upon their risk management practices
- Cyber Response Team: Our panel includes experts who are well-versed in the latest cybersecurity trends, threats, and regulatory requirements
- We partner with industry-leading cyber breach coach, Mullen Coughlin, LLC, to provide you with comprehensive 24/7 breach response service. In the event of a cyber incident, our team, alongside Mullen Coughlin, will guide you through the breach response process, helping to minimize damage, manage regulatory compliance, and protect your reputation
- Other Value Add Enhancements:
- Disciplinary Proceeding and License Defense Hearing Coverage: protection for costs associated with defending against disciplinary actions and license defense hearings
- Professional Regulatory Proceeding Coverage: protection for costs with defending against a Billing Errors Proceeding, EMTALA Proceeding or Stark Proceeding related to medical services, along with coverage for any resulting fines and penalties
- Reputation Protection Expense: expenses incurred to manage and restore your company’s reputation following a covered incident, helping to mitigate damage and rebuild trust with your clients and stakeholders
- Emergency Evacuation Expense: protection for costs necessary to safely perform an emergency evacuation of the company’s facility due to imminent danger to on-site patients
- Peer Review Expense: protection for costs with defending against allegations of negligent peer review services
Virtual Care at Admiral
Learn more about Admiral’s Virtual Care coverage, including coverage capabilities and sample classes.
Coverage Capabilities
- Primary and excess limits up to $5M
- Medical Malpractice, Tech E&O, Media Liability and a full suite of Cyber coverages all in one policy
- Combination PL & GL policy available
- HIPAA and privacy laws regulatory coverage included
- Cyber enhancements built into the policy
- Bricking, System Failure, Reputational Harm Loss & Cyber Crime
- Physicians can be added by endorsement
- License Defense, Billing Errors, EMTALA and Stark Proceedings coverage
- Peer review protection coverage
- Broad bodily injury coverage in E&O and Cyber Liability
- Property damage coverage also included in E&O
Sample Classes
- Custom healthcare software development and licensing
- General wellness mobile application or platform
- Telehealth platform for remote patient consultations
- Remote patient monitoring technology
- Teleradiology services
- Diagnosis and treatment plan analytics software
- Medical care coordination and referral platform
- Healthcare technology consulting
- Value-added reseller of healthcare technology
Claims Scenarios: How Admiral’s Virtual Care Product Protects Your Clients
In this emerging industry of technology-based healthcare services, even the best medical and technology professional can face unforeseen claims in the course of their operations and professional services. A small oversight in the medical care, a technology error affecting a client or patient, system failure or cyber incident can lead to costly legal battles and financial losses. Below are real-world scenarios demonstrating how our Virtual Care insurance solution safeguards businesses against risk.
Account: Hosted Healthcare Platform
Claim
A hacker gains unauthorized access to the platform. While inside
they make copies of patient medical records and cause an outage
to the platform, resulting in the inability to provide virtual patient
consultations for two days.
Loss
- Bodily injury claims arising from patients who couldn’t access timely medical care
- Breach Response Expenses for the medical records stolen
- Business interruption income loss during the outage to the platform
- Bodily injury claims arising from patients who couldn’t access timely medical care
- Breach Response Expenses for the medical records stolen
- Business interruption income loss during the outage to the platform
Account: Diagnostic Analytics Software
Claim
During a recent IT bug patching to the software application, some client information was accidentally deleted resulting in the testing kits not being marked properly with the patient identifiers. It was not discovered until the following week and the patients affected had to come back in to be re-tested, all delaying the test results by multiple weeks.
Loss
Delayed diagnosis claim resulting from bodily injury to the patient due to delayed treatment.
Account: Telemedicine Software Platform
Claim
A physician the telemedicine platform has contracted with to be a
provider for their patients fails to follow the company’s protocols
for reviewing patient medical history and a few patients are given
treatment plans and prescribed medications that conflict with prior
medical conditions
Loss
- Bodily Injury claims arising from patients receiving improper treatment plans and prescribed medications
- Disciplinary Proceeding and License Defense Hearing Expenses
