Skyward Specialty Insurance Group, Inc. is recognizing the growing need for specialized coverage in the healthcare sector and has announced its plans to expand its offerings for individual providers, including physicians. As the healthcare landscape presents new challenges and opportunities, the demand for tailored insurance solutions has exceeded the capacity of the market.
There is currently a shortage of individual providers and physicians in the nation, with fewer professionals entering the market and experienced practitioners leaving due to malpractice suits and rising litigation costs. This shortage has heightened the difficulty for many practitioners to obtain comprehensive coverage that meets their unique needs.
In response to these challenges, Skyward Specialty has established the Healthcare Solutions underwriting unit, formerly known as Allied Health, which will cater specifically to the individual provider segment. With this expansion, the company aims to bridge the gap in the market and provide peace of mind for practitioners while supporting their growth and success.
Sarah Logue, Senior Vice President of Healthcare Solutions at Skyward Specialty, emphasized the importance of addressing the needs of this underserved market. Through discussions with industry partners and brokers, the company recognized the significant gap and their ability to address it.
John Burkhart, President of Specialty Lines at Skyward Specialty, expressed confidence in the future of the Healthcare Solutions unit. The company has made significant investments in talent and innovative solutions to expand their offerings and position themselves for future opportunities.
Skyward Specialty has announced that the Healthcare Solutions team will begin accepting submissions for Individual Provider coverage starting October 2, 2023.
With this expansion, Skyward Specialty Insurance Group aims to provide comprehensive and tailored coverage solutions for healthcare professionals, addressing the unique challenges they face in today’s evolving healthcare landscape.
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