Overview — E&O for Medical Billing (NAS Insurance Services)
NAS Insurance Services offers an errors & omissions (E&O) program tailored for medical billers and coders who provide billing services for a fee to clients or third parties. This program recognizes billers’ elevated regulatory and cyber exposures and combines professional liability protection with optional regulatory defense and cyber-first/third party options to help protect client operations.
Why this program
Medical billing firms face two primary modern exposures: regulatory proceedings arising from billing errors and significant cyber risk because billing transactions routinely contain protected health information (PHI) and other sensitive data. NAS places this business through Lloyd’s, London and other highly rated carriers to deliver capacity and specialized underwriting expertise that understands the medical billing workflow and its common pitfalls.
Ideal Accounts and Appetite
- Independent medical billers, coders, and third-party billing services operating for multiple physician groups or small medical practices.
- Startups or established shops with documented billing procedures, secure billing software, and routine data protection practices.
- Firms that want regulatory defense coverage for billing disputes and the ability to add broad cyber first- and third-party protection.
Typical declinations include large in-house hospital billing departments, accounts with chronic prior claims without remediation, or operations that handle unusually large volumes of high-risk procedures without adequate controls. NAS underwriters prefer accounts that can demonstrate staff training, QA procedures, and reasonable security controls.
Coverage Highlights and Advantages
- Professional E&O tailored to mistakes in coding, claim submission, and billing procedures.
- Medefense Plus — coverage designed to respond to regulatory investigations and proceedings related to billing errors and alleged fraudulent submissions.
- NetGuard Plus — a cyber product with broad first- and third-party cover for data breaches, ransomware, and business interruption tied to billing systems and transactions.
- Placement via Lloyd’s, London and other highly rated carriers to access competitive capacity and specialized policy forms.
Underwriting Notes and Minimum Premium
NAS underwriters evaluate: revenue size, monthly claim volume, client mix, documented procedures for coding and claims review, staff credentials, and existing cyber controls. A minimum premium of $3,000 applies. Expect the submission to include a current applications, summaries of security controls, sample engagement letters, and loss history.
Territories and Admitted Status
This program is available in: AL, AK, AZ, AR, CA, CO, CT, DE, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, DC, WV, WI, WY. Policies are placed through London and surplus markets (non-admitted/surplus lines) to give broader form flexibility and capacity.
Why Work With NAS Insurance Services
As a managing general underwriter, NAS combines focused underwriting for the medical billing niche with access to Lloyd’s and other top-tier carriers. Agents benefit from targeted appetite guidance, specialist forms (Medefense Plus and NetGuard Plus), and experienced underwriting that understands common operational controls and remediation steps after prior loss.
Example accounts that fit
You might have a client who handles billing for several specialty clinics, has a documented QA process, and uses a secured cloud billing platform — this type of account typically fits well. Another good fit is a small billing company seeking regulatory defense coverage alongside cyber protection for PHI exposures.