Does Your Hospital's Insurance Policy Cover Ebola?

Two privately owned insurance brokers have teamed up with Lloyd’s of London underwriter Ark Syndicate to sell hospitals a product that insures against any loss of profit from Ebola quarantine shutdowns.

According to Reuters, Miller Insurance Services LLP said the product it created with U.S. broker William Gallagher Associates would also protect hospitals against any potential losses to revenue in the aftermath of an Ebola quarantine.

This is the first time such a policy has been used.

Underwriting began last week and according to the news service, hospitals have been seeking such a product.

“The health care industry is at the forefront on the Ebola situation and faces a unique and augmented set of risk exposures,” said Gigi Norris, managing director of Aon Risk Solutions’ health care practice.

Aon Plc said it had created an Ebola task force to monitor the outbreak and help its clients prepare for potential risk exposures, duty of care and human capital concerns.

According to a report from Bloomberg News, the care of Thomas Eric Duncan – the first Ebola victim – likely cost approximately half a million dollars. Ebola care was estimated to cost $1,000 an hour because of the heightened intensive care costs of isolation, time-consuming protocols required for isolation and disposal of gear and patient waste.

The hospital who cared for Duncan is still unsure how the care will be paid for or if will write it off as charity care.

The death toll in the epidemic has risen to 4,546 out of 9,191 known cases in Guinea, Liberia and Sierra Leone, including 239 health workers, according to the World Health Organization.