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Directors & Officers/Errors & Omissions Coverage
BCSI's D & O/E & O policy not only protects individuals affiliated with the Blue Cross and Blue Shield Plan from liability, it also serves as a foundation for a number of other important coverages written as endorsements to the policy.
D & O
This coverage protects members of the Blue Cross and Blue Shield Plans' boards of directors, officers and employees, as well as their medical consultants. They will be covered from liability related to wrongful acts such as breach of duty, neglect, errors, misstatements, misleading statements, and
other acts or omissions. Plans that purchase this policy may retain their own counsel (subject to BCSI approval), and BCSI will pay for defense costs, as well as judgments or settlements that exceed the deductible.
Insurance Company E & O
This endorsement to the D & O policy protects a Plan and all its subsidiaries for errors and omissions related to claims for professional services performed to a third party. These services could include claim handling, audit and legal services. Limits up to
$40,000,000 with an additional $10,000,000 available through
facultative reinsurance placement.
Managed Care Organization Liability
BCSI's MCO liability coverage applies to all Blue Cross and Blue Shield Plan non-staff model HMOs, PPOs and other managed care programs that do not directly employ physicians. It protects any of these organizations from loss involving the rendering or failure to render managed care services, such as admission review, utilization review, and discharge planning. The coverage also applies to peer review activities and credentialing. Limits up to
$40,000,000 with an additional $10,000,000 available through
facultative reinsurance placement.
Employment Practices Liability
Acting as an employer carries a range of liability including alleged discrimination, sexual harassment or violations of state and federal laws such as the Americans with Disabilities Act. This endorsement to the D & O policy covers the employer and supervisory employees, with limits as high as
$40,000,000 with an additional $10,000,000 available through
facultative reinsurance placement.
Employers Managed Care Liability
This endorsement covers a Plan for obligations it has assumed as a result of hold harmless agreements with employers, groups or associations. These hold harmless agreements require the Plan to provide reimbursement if any of these groups is held responsible for errors or omissions claims resulting from the Plan's administration of a managed care program. Limits up to $5,000,000 are available.
For more information, please contact: Bill Cole at 630.472.7808 or at wfcole@bcsigroup.com,
and Sharon Dold at 630.472.7729 or at sdold@bcsigroup.com
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