Medical Devices Insurance
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Medical devices and equipment have evolved over the centuries. Fortunately, we have replaced leeches and unsanitized knives with MRI Scanners, Defibrillators, and Dialysis Machines. With the advancements of technology, equipment values have significantly increased. Industries that sell, service, install, or repair medical equipment have additional liability exposures - both for bodily injury and property damage claims.
Whether you work with Durable Medical Equipment or Class III Medical Equipment, Veracity has the insurance solutions for your industry.
Target Classes
- Anesthesia Equipment
- Bypass Equipment
- Catheterization Labs
- Diathermy Equipment
- Cobalt Therapy Unit
- CT Scanners
- Defibrillators
- Dialysis Equipment
- Electrophoretic Equipment
- Endoscopes
- Film Processing Equipment
- Life Support Ventilation Equipment
- Liver Accelerators
- MRI Scanners
- Neonatal Incubators & Warmers
- Ophthalmic Lasers
- Pacemakers
- Radiographic Equipment
- Sterilizer/ Washing Equipment
- Surgical Laser Equipment
- Surgical Tables/Lights
- Telemetry Equipment
- Therapeutic X-Ray Equipment
- Transcutaneous Electrical Nerve Stimulation Equipment
Program Highlights
- Minimum Premium - $1,000
- Occurrence & Claims-Made Forms
- No General Liability Deductible
- Additional Insured Endorsements Available
- Employee Benefits Liability Available
- Limited Professional Liability Included
- Hired/Non-Owned Auto Available
- Inland Marine Coverage Available
- Limits up to $5 Million Available
Submission Requirements
- Signed and dated Medical Device application
- Five year currently valued company loss runs
- Website information
- Copies of the following:
- Labels
- Advertising literature
- Current Declarations Page
Why Medical Devices Insurance?
An Individual was injured by malfunctioning cardiac defibrillators and will claim shares of the $240 million fund as part of a 2008 nationwide settlement.