Unit 3 Assignment: Westview Seeks Coverage (FIN401 Insurance & Risk Management

Due Date: 11:59 pm EST Sunday of Unit 3 Points: 100 Overview: After your assistance in creating and implementing a risk management plan that the medical center now follows, Westview has finally seen a substantial decrease in the number of hospital acquired infections/secondary infections. In fact, because of the monumental success of the risk management plan, the CMO is now requiring every department to create an individualized risk management plan that is specific for each department and for each department to conduct a risk assessment. The CMO is also requesting a full review of the insurance policies that are in effect for the medical center, which policies are up for renewal. During the insurance renewal process, the insurance department submitted the normal paperwork and renewal application to each carrier but failed to inform the carriers about the previous State regulatory actions and the loss of accreditation. Each carrier, by submitting a binder, decided to renew their respective policies for Westview at their standard premium rate. One day, Susan’s elderly mother slipped and fell in her bathtub and was transported to Westview, where she was admitted due to a broken hip and needed surgery. Susan decided that she would stay with her mother in the hospital on the night of the surgery. Susan decided to drive to the hospital and park overnight in the hospital’s garage, which is located across the street from the medical center. As Susan made her way down the final steps to exit the garage, she slipped on the last step that had water on it, and severely injured herself. Luckily, a security guard saw the accident and immediately sought help from the hospital’s medical staff. Upon learning of the accident, the insurance department notifies each of the hospital’s applicable liability carriers of the potential claim as the accident is something that would generally be covered under the policies. Instructions: Based on the information as provided, answer the following questions in a video presentation:

1. Is there a valid insurance contract between Westview and the Insurers? Your response should include a brief discussion about the formation of a valid insurance contract.

2. Are there any grounds on which the insurer can deny coverage?

FIN401 – Insurance and Risk Management

Unit 3 Assignment – Westview Seeks Coverage

Think back to the reading to determine the legal liability, if any, of the parties. Requirements:

• Video presentation uploaded to YouTube • At least two resources.

Be sure to read the criteria below by which your work will be evaluated before you write and again after you write.

Evaluation Rubric for Assignment

CRITERIA Deficient Needs Improvement

Proficient Exemplary

0 – 43 points 44 – 56 points 57 – 69 points 70 points Content Does not cover

the assigned topic; assertions are not supported by evidence; paper is seriously lacking in content and detail.

Does not do an adequate job of covering the assigned topic; assertions are weakly supported by evidence.

Sufficient coverage of the topics; most assertions are supported by evidence.

Provides in- depth coverage of the topics, assertions are clearly supported by evidence.

0 – 5 points 6 – 7 points 8 – 9 points 10 points Resources No resources

were used as requested

Resources were used but not reliable ones

Not enough resources were used

Proper amount of resources were used

0 – 11 points 12 – 15 points 16 – 19 points 20 points Clear and Professional Writing and APA Format

Errors impede professional presentation; guidelines not followed.

Significant erro rs that do not impede professional presentation.

Few errors that do not impede professional presentation.

Writing and format are clear, professional, APA compliant, and error free.