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Daily Insurance Industry News
Thursday 13th of December 2018
November 1, 2010

Chubb launches healthcare IT liability product

by Gill Montia

Story link: Chubb launches healthcare IT liability product

Chubb has established a Healthcare Information Technology Program in the US, aimed at addressing the industry’s liability needs in the light of healthcare reform.

Currently, over 1,000 companies supply information technology products and services to the healthcare and medical research industries in the US and Canada, and the sector is poised for additional growth.

The group has therefore brought together its information and network technology and life sciences expertise to create a liability product that can help protect healthcare IT companies from:

General and products liability when software or hardware that is defective or contains inaccurate or incomplete information causes or contributes to patient injuries.

Errors and omission liability when a product defect or service deficiency results in economic injury to a customer.

Third-party liability to patients, healthcare providers and others associated with database security breaches and costs incurred in complying with state, federal and foreign laws requiring companies to notify consumers of a privacy data breach.

According to one of the group’s vice presidents and co-program managers, Richard Reed: “Chubb’s Healthcare Information Technology program will provide insurance products and services, on a global basis, that can help this emerging industry face privacy and information security requirements, as well as a host of new professional liability exposures.”

 

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