Any challenge. Any risk. Anywhere
Are you struggling with a healthcare client? Do you have the opportunity to work with a hospital, or physician practice, but lack the expertise and carriers to compete? What if you have a strong client relationship, but lack the market and expertise? We have a solution. And we all share in the success.
Gallagher's Optimal Placement Program allows brokers and agencies the ability to work with and utilize the resources of the nation's largest broker for medical professionals. Our team can help you place professional liability coverage for any type of healthcare risk. Our team works on accounts of all sizes ranging from single physicians to multi-campus hospital systems and in all 50 states.
Reasons to partner with Gallagher:
- Largest Broker for physician malpractice insurance in the US
- More than 60,000 physicians
- More than 1,000 insured healthcare facilities
- Nationwide capabilities
- Medical Specific lines of coverage – E&O, D&O, Regulatory, Cyber, Property, General Liability, Alternative Risk Structures
Hospital Success – The Entire Insurance Program – Savings $261,400
An agent contacted us who needed help with a 104 bed acute care facility in Texas to place their entire insurance program. After our team and the agent met with the executive team, we quickly determined they needed to stream line their coverages and get a better analysis as to their operational exposures. We consolidated their management liability into one coverage form to include, D&O, EPLI, Crime and Fiduciary. We supplied the markets with a better occupied bed average at 60%, not the estimated 100%. The result was an overall 30% savings for their entire program, and in particular, the HPL/HGL coverage was underwritten with a 0 deductible from the expiring $25,000 per claim deductible. As you might imagine, the hospital was quite pleased with our results. The agent was thrilled, and we look forward to working with them again, and again, and equally sharing in the revenue.
Physicians Practice-The Malpractice Coverage – Prior Acts Repair
We were contacted about a Florida medical group had 2 claims filed against them naming physicians that no longer worked at the practice. In fact, the physicians that had left failed to purchase the policies Extended Reporting Endorsement or ‘tail'. The problem that surfaced was that all the physicians were purchasing their medical malpractice coverage from 3 different insurance markets. The result was the medical group had no coverage for their entity, it was bare. After meeting with the group leadership, they agreed with our recommendation to purchase coverage from one carrier. We aggressively went to market and received an offer providing limited legal defense for the 2 open claims covered all the physician's prior acts and even saved the practice premium.
Hospital Success - The Property & Auto-Savings $31,116
An agent contacted us for help with a 75 bed hospital in Ohio. The CFO was happy with their current HPL and HGL coverage, but the property, auto and crime coverages had continued to escalate even though they had not reported a claim in many years. We took a hard look at their Statement of Values; we verified all the drivers and autos', and took a hard look at their location. We ended up negotiating a better form with coverage for 100% of value with a much bigger carrier with additional loss control resources. As you might imagine, the CFO was thrilled. And now they might ask the agent and Gallagher Healthcare to take a look at the rest of their insurance program. Since we simply provided our markets and guidance, the agent captured a bit more revenue, and will be welcoming us back for other opportunities.