Specialist lines underwriting agency CFC has launched a new product to expand its presence in the UK medical malpractice insurance market.
The new product is a flexible package that can be tailored to a wide range of healthcare professionals and organisations including affinity groups or schemes. It offers public liability, employers’ liability and legal expenses cover.
Cyber and privacy cover is also offered as an optional extra, protecting against various cyber-attacks and scenarios including loss or breach of data held in the cloud, cyber extortion and hacks on third parties emanating from the insured’s computer systems.
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According to CFC, the latest offering – which is backed by a consortium of Lloyd’s syndicates – brings much needed capacity to the medical malpractice insurance market in the UK.
“The frequency of medical malpractice claims and the cost of defending them are steadily on the rise in the UK, making litigation a key exposure in this sector,” said Sharon Brennan, medical malpractice insurance leader at CFC.
“Whether at fault or not, healthcare organisations and professionals need clear and concise cover backed by expert underwriters and lawyers who really understand this field,” she added.
Brennan said the new CFC product provides “clear” and “unambiguous” cover that can be tailored depending on the client’s needs.
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