Professional Liability is becoming more complicated by the day and it’s not just the owners/managers who are concerned, but also many attorneys and generic insurance agents don’t understand the exposures and the options. Given the personal nature of the liability for the owner/manager, we cannot stress enough the importance of working with a specialist.
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In this issue, SNIF staffing issues; nonprofit hospital finances; arbitration agreements in nursing homes; growing concern (and urgency) about medical device cybersecurity; and the OCR continues to set new records for its settlements.
Understanding the issue: The Threat of Rising Specialty Drug Costs to Student Health Insurance Plans
The term “specialty drug” is used to describe prescription products with sensitive conditions for storage, handling, administration, and monitoring. Most commonly, this category of drug refers to biologics, injectables, or infused therapies (often administered in the patient’s home).
Throughout 2016, the management liability marketplace as a whole showed a competitive rate environment across most product sectors. Moving into 2017 this rate environment will likely continue, though recent claim trends lend a level of uncertainty as to how long these conditions will last. Below you will find product sector market updates and relevant claims trends seen both nationally and within the Gallagher Management Liability Practice.
Seyfarth Synopsis: Landmark Occupational Safety and Health Review Commission decision helps employers determine what steps need to be taken to protect employees from the hazards of heat at the workplace.
This Weekly Market Update reviews the top 3 market headlines: China Gets Downgraded, OPEC Extends Production Cuts and Declining Spreads in U.S. Treasury Notes
According to a Mayo Clinic study published April 4, 2017, nearly 90 percent of patients who came for a second opinion left with a different or adjusted final diagnosis. In addition, patient safety researchers at Johns Hopkins have found that diagnostic errors account for the majority of medical malpractice lawsuits, the most severe patient harm and have the highest indemnity.
Live and Interactive Webcasts for Supervisors. Free training held the second Tuesday of every month!
Canada Legislative Update - Ontario Proposes a New Pharmacare Program for Children & Youth Aged 24 and Under
Ontario’s 2017 budget includes a proposal for a new program (OHIP+: Children & Youth Pharmacare) to tackle the impact of increasing drug costs on individuals and plan sponsors.
Take a look at our 2016 Client Success Stories and how Gallagher was able to find a resolution to multiple issues in Claims Advocacy Practice.