Beazley unveils virtual care cover

Specialist insurer Beazley has launched its virtual care cover and standalone medical malpractice insurance in Spain, following the rollout in the US, Canada and the UK.

The product is designed to provide protection cover against a wide variety of clients including out-of-hours services, primary healthcare providers, clinical research organisations, home and behavioural health providers, dermatologists and pharmacies.

Limits on Beazley Virtual Care and medical malpractice are €15 million. The cover provides medical malpractice and professional indemnity cover as standard.

“COVID-19 has demonstrated the growing importance of tech-enabled healthcare delivery – from providing remote medical consultations to devices that help people to monitor own their health and wellness," said Evan Smith, global head of miscellaneous medical and life sciences at Beazley. "The pandemic has also hastened the development of new services, accessibility and apps, which are supporting the move out of lockdown more rapidly. However, managing health remotely creates new exposures including poor advice based on flawed data, or malfunctioning technology that gives incorrect readings or leads to misdiagnosis, for example. It also creates data privacy and security risks."

Smith added: “Healthcare provision has always carried risk and as medicine has advanced, expectations have grown and tolerance for errors has diminished. Beazley Virtual Care is designed to respond to the interconnected liabilities facing the sector in addition to more ‘traditional’ medical malpractice and professional indemnity risks.”

Ana Misol Dymling, Beazley underwriter and Virtual Care lead for Spain, said: “Beazley’s medical malpractice and Virtual Care policies provide protection against healthcare liability as well as cyber and tech-related risks that face both traditional healthcare organisations and tech-led health and technology providers in Spain.”