Comprehensive property insurance coverage for hospitals is available through the Hospital All Risk Property Program (HARPP), one of the nation’s largest independent hospital joint purchase groups with more than 100 hospitals insured.
HARPP is a group purchase program with no risk sharing and no possibility of future assessments. The program mimics individual placements in that each participant has its own dedicated natural catastrophe limits. The benefits available to hospitals are based upon the principles of an impressive total insurable value of $21 billion, large premium volume, and spread of risk.
HARPP was created by Alliant in 1989 at the request of a group of independent, not-for-profit, and private hospital groups seeking a competitive property insurance program to meet their unique coverage needs. The program was expanded to include the Association of California Hospital Districts (ACHD) and its members. Today, HARPP includes members across the nation.
Among the joint purchase programs available to HARPP members is the HARPP crime program. Providing discounted rates and long-term stability, the program also offers spread of risk and coverage/claims analysis. The market is AM Best “A+” rated and provides a variety of coverages for district, not-for-profit, and for-profit private healthcare organizations. Limits are available from $50,000 to $5 million or more for coverages, including: