In a country that spends well over $2bn on healthcare each year, it is no surprise that Canada has a large and thriving healthcare sector, which accounts for around seven per cent of GDP. However, traditional models of healthcare delivery need to evolve if providers wish to meet the needs of the aging population.
Since 2015, there have been more people over the age of 65 than children under the age of 14 in Canada. The fast aging population is driving up costs, while stimulating demand for new medicines, procedures and therapies. Added to that, the rapid pace of development in medical knowledge, pharmacology and technology – from robotics to nanotechnology – is fundamentally transforming the sector. This creates exciting opportunities for the more adaptable players, along with new risks that they will need to identify and manage.
QBE has been providing insurance to the healthcare sector for more than 20 years. We can help organizations ranging from regional health authorities to hospitals, clinics, residential care providers, medical practitioners, primary care providers, medical affinity groups and allied healthcare companies.
Our underwriters bring a thorough understanding of the various risks you face and we pride ourselves on our speed of response. We offer a broad range of relevant products, which can be customized to suit your individual circumstances.
In the event of a claim, we will work closely with you to achieve the best outcome as promptly as possible and minimize the impact on your reputation.
We have the resources to deliver effective insurance solutions and support wherever your operations take you. Our global network allows us to provide coverage in more than 150 countries, so we are well placed to deliver globally compliant multinational programs.
Finally, under our unique QBE Premiums4Good initiative, we offer the opportunity to put 25 per cent of your premium into investments with an additional social objective, such as reducing homelessness or helping the environment. We provide annual updates about the projects we have supported, which you are welcome to use in your own corporate social responsibility reporting.
We protect companies in the life science and clinical research sector against the cost of claims for damage or injuries caused by clinical trials.
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Our comprehensive Crime/Fidelity insurance protects against money, stock, securities or property being stolen by employees or third parties.
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Healthcare information is highly valued on the dark web and is considered to be 10 times more valuable than credit card information. The other risk that healthcare institutions face is the manipulation of data in individual patient files. Cyber insurance can help restore and rectify the loss of data back to its state at the time of the breach. In addition, QBE’s approach provides you with a team of specialists who can help you manage a breach, minimizing the harm to your business and your reputation.
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Directors’ and Officers’ Liability insurance protects senior employees against claims resulting from actual or alleged wrongdoing.
Read more about Directors’ and Officers’ Liability
When providing healthcare services, there is exposure to material that has the potential to cause environmental damage – for example, radioactive materials, toxic chemicals and hazardous waste. Our Environmental Impairment Liability policy insures organizations for costs to repair environmental damage and respond to claims made by third parties.
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Our comprehensive coverage protects organizations against claims brought by third parties for property damage or non-healthcare related injury.
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We partner with brokers and MGAs to offer insurance solutions to groups or associations with a common insurance need, empowering you to generate valuable income and grow your business.
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Our Medical Malpractice policy provides protection against legal actions arising from negligence, malpractice or failure to provide appropriate diagnosis or treatment.
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We can create compliant multinational programs for a wide range of products – including Property, General Liability, Professional Liability, and Directors’ and Officers’ Liability – in more than 150 countries.
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We protect companies in the life science and clinical research sector against the cost of claims for damage or injuries caused by pharmaceuticals and medical devices.
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Our Property policy offers protection from damage to your organization’s physical assets, as well as any resulting disruption to your business.
Read more about Property