There may be no cure for Ebola, but healthcare providers can get insurance for it.
Miller Insurance Services, based in London, and William Gallagher Associates, a U.S. retail insurance broker, say they're offering Pandemic Disease Business Interruption Insurance, provided by the Ark Syndicate at Lloyd's.
It would cover income lost due to quarantine shutdowns of healthcare facilities as well as lower revenue after a quarantine.
"Hospitals and related entities have exposure to a voluntary or involuntary quarantine of their premises given the potential accumulation of people and the need by the authorities to try and contain the virus. This could be potentially catastrophic for any medical-related facility," Richard Bryant of Ark Syndicate, Specialty Programs, said in a news release.
Loss of revenue is a serious concern for hospitals and clinics facing the prospect of treating Ebola patients. Texas Health Resources, parent company of Texas Health Presbyterian Hospital Dallas where Ebola victim Thomas Eric Duncan died this month, is already facing financial fallout. Moody's Investors Service has revised its outlook on the system's long-term debt from positive to “developing” because of financial uncertainty arising from the system's encounter with the virus, which has infected two of the Dallas hospital's nurses.
Moody's warned that possible volume reductions, damage to the system's brand or growing liabilities could hurt the system's current ratings.
Follow Lisa Schenker on Twitter: @lschencker
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.
