Passed in 2019, California hospitals must now comply with Assembly Bill No. 962. Essentially, AB 962 requires hospitals to increase affiliations, partnerships, and engagements with diverse businesses to benefit California’s marginalized communities.
Discover what AB 962 is, how it affects California hospitals, and how HCP National can help hospitals reach their supplier diversity goals.
Founded in 1994, HCP National is “the healthcare industry’s insurance broker,” specializing in hospitals, healthcare systems, and medical groups. HCP National is a certified diverse (WBENC and MBE) commercial insurance brokerage, headquartered in California.
Hospitals seeking to work with more diverse suppliers can trust HCP National to handle their insurance. Experts in healthcare, HCP National is “the healthcare industry’s insurance broker.”
As a certified WBENC and MBE insurance brokerage, HCP National Insurance Services, Inc. is proud to be the largest certified minority-woman-owned commercial insurance brokerage in the United States.
Since 1994, HCP has served the healthcare industry with all lines of commercial insurance, from property and casualty to employee benefits and reinsurance. HCP has placed more than $1 billion in insurance premiums and currently covers over 1 million members nationwide.
HCP National’s headquarters are located in Aliso Viejo, California.
What is AB 962?
In October 2019, the California State Legislature passed Assembly Bill No. 962 (AB 962). Authored by Assemblymember Autumn R. Burke and coauthored by Assemblymember Rob Bonta, AB 962 promotes and supports diversity in California’s health sector by requiring “a licensed hospital with operating expenses of $50,000,000 or more, and a licensed hospital with operating expenses of $25,000,000 or more that is part of a hospital system, to annually submit a report to the office on its minority, women, LGBT, and disabled veteran business enterprise procurement efforts.”
The bill required hospitals to submit their first diversity reports to the Office of Statewide Health Planning and Development by July 1, 2021. Hospitals are now required to submit diversity reports to the office by July 1 annually. Civil penalties apply if hospitals fail to file.
AB 962 presents a unique opportunity for hospitals to focus on their commitment to D&I: supporting diverse suppliers and uplifting California’s communities.
According to AB 962, “it is in the state’s interest to encourage competitive business opportunities for all of its people. Hospitals are uniquely positioned to build relationships within the communities they serve through the development, inclusion, and utilization of certified minority, women, LGBT, and disabled veteran business enterprises whenever possible. National companies are able to leverage buying power to save costs to the benefit of patients.”
Encourage D&I in the Healthcare Industry
When it comes to insuring hospitals, HCP National is the experienced professional you can trust. Our team will work with you to create a comprehensive risk management program that addresses all your healthcare industry insurance needs.
For more information about our hospital insurance products and services, contact HCP National today.
I have been very happy with HCP National Insurance Services, Inc. for my medical malpractice insurance needs. The team at HCP National is friendly, responsive, professional and easy to communicate with and always eager to help. I have visited the office and met the team and have been very impressed. I recommend HCP National with my highest level of recommendation.
I have found my Account Manager to be extremely helpful and to always have my best interest at heart. She is excellent to work with!
I found HCP National Insurance Services, Inc. by looking online for a commercial liability insurance provider. I was not familiar with the company, but gave them a call. It was the best experience I have had with an commercial insurance provider ever. My HCP representative went above and beyond to assist our company. Every question or email was answered in a most timely manner and every effort was made to get us through the application process. I highly recommend this company and we will use them again.
I have been a long time client of HCP for professional liability insurance for my practice. My account manager has always been punctual, diligent in pricing us out to market, and efficient in handling all of our year end paperwork and changes to coverage levels. I would recommend them to all doctors.
Our business has complex insurance requirements and HCP was awesome to work with! They took the time to understand our business to ensure we had the proper coverages and were able to finalize all our insurance needs right on time! HCP National is a great partner for our business!
My account manager was so helpful and knowledgable. I loved that she was available to work through our unique needs! I highly recommend HCP.
