Totten Insurance Group enters the health care field

The company will connect with brokers to discuss the new health care practice

Totten Insurance Group has launched a national health care practice that will see the company produce products for insuring hospitals, clinics, pharmacies and home care organizations in addition to professionals that work in the field.

“Health care is not an area to dabble in,” says Susan Murphy, president and CEO of Totten Insurance. “We plotted our entry methodically with the right people and the right partnerships. Our brand will demonstrate superior underwriting, with a trained eye on mitigating losses and monitoring changes in the Canadian legal landscape.”

Theresa Teixeira, executive vice president and chief underwriting officer at Totten Insurance, will lead the new initiative and brings more than 15 years of health care underwriting experience to the team.

In addition, the team includes Janet Saunders, a vice president and executive underwriter of health care at the company, who also has more than 15 years of experience specifically in underwriting for the health care industry.

The key to this new offering is Totten Insurance’s holistic approach to their assessment of risk for a multifaceted industry, according to Saunders.

“Health care is a specific offering and it’s more unique than some products,” she says. “It spans nurses, doctors, hospitals, [surgical] centres and [emergency medical services]. There are a lot of different fingers to it and it’s understanding how that works in Canada, what the legislation is and what the requirements are.”

Assessing risk within the medical field would require a thorough understanding of the insurance obligations of the various contractors in addition to the specific health care client. For example, “if you look at nurses in Ontario, they are required by law to carry their own professional liability insurance. We come on a risk with a nurse for that [health care client]…you need to understand where [the nurse’s] insurance starts and where it ends and where we come in,” Saunders explains.

Teixeira, Saunders and their team will meet with brokers in the coming months to discuss the new venture and to understand what brokers’ needs are in covering risk for this particular industry, says Saunders.

“Health care is a little more intricate [amongst industries] so what we’re trying to do is get out there and help those brokers with that book of business,” she adds.

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