CFC streamlines eHealth cover in North America
New policy addresses the exposures of both telemedicine and traditional healthcare providers
CFC, the specialist insurance provider, pioneer in emerging risk and market leader in cyber, today announces a number of enhancements to its market leading eHealth insurance solution for digital health businesses and healthcare providers adopting technology as part of day-to-day patient care.
Having been the first to introduce a bespoke packaged policy tailored to the unique risk profile of companies and practitioners operating at the intersection of healthcare and technology back in 2017, CFC has enhanced the package to reflect the increasing regulatory complexities and growing influence of technology in healthcare in the post-pandemic world.
“After the explosion of digital healthcare following the onset of the pandemic and as the Public Health Emergency Waivers look set to expire, lawmakers and regulators are considering how to regulate the practice of telemedicine and emerging digital health technologies such as AI and Software-as-a-Medical Device tools going forward,” said Andrew Dallamore, eHealth Product Manager. “This introduces a new wave of regulatory complexities to those whose current business models may not be compliant with these changes.”
“At the same time, the use of technology in healthcare is increasing across pretty much every sector of the industry so we’re seeing the delivery of hybrid care – combining telemedicine with in-person visits – continuing to grow. It was important that we reviewed our existing policy to ensure it would reflect the changing risk and regulatory environment for all those involved in digital health.”
Key enhancements to CFC’s eHealth policy in North America include:
- regulatory cover that goes beyond traditional coverage, providing licensure defense for providers and alleviating businesses from loss related to regulation requirements
- standardized cover for a range of cybercrime risks including ransomware while policyholders will benefit not only from CFC’s award winning incident response services but also its proactive threat intelligence service aimed at preventing cyber events from occurring
- cover for allegations of sexual misconduct and physical abuse as standard in light of the increasing number of accusations of this nature from both remote and in-person consultations
Dallamore concludes: “Our new streamlined eHealth cover has been enhanced to address the exposures of both telemedicine and traditional physicians where both modalities of care are being utilised and we are proud that our policy continues to offer the broadest coverage in the market.”