AB 962: California Hospital Supplier Diversity:
WBENC & MBE Insurance Brokerage

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.” HCP National is a certified diverse (WBENC and MBE) commercial insurance brokerage, headquartered in 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.”

How AB 962 Affects California Hospitals

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.

Why Did AB 962 Pass?

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.”

Convert Your Insurance Spend Over to a Certified Minority Supplier

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.

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.

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Since 1994 – HCP’s top priority is finding clients the best possible coverage and terms at the lowest possible cost. HCP is a certified diverse (MBE & WBENC) insurance brokerage.

HCP Testimonials

What Clients Say

The HCP National team has been incredibly easy to work with. Even before becoming a client, they took the time to answer all of my questions and have repeatedly gone above and beyond to meet the ever-changing needs of our company.

Samuel P.

I have been insured by HCP for many years. I can say this is by far the best experience I have ever had with any of my malpractice insurances in the past. The reasons why: their availability 7 days a week; the best price on the market guaranteed; the least paperwork ever (the company does it all for you); direct contact with your insurance carrier and solving your problems right away; no any delay in re-application. Everyone is very professional, knows very well what they are doing, and you feel that you are always in good hands.

Alexander K.

HCP National is a proven and trusted ally of Aggie Pediatrics, LLC. Our personal Account Manager is quick to respond to any questions and always willing to take the time to listen. I recommend HCP National to any healthcare provider searching for an affordable program suited to your needs, big or small.

Abe H.

We are a small practice working in long-term care. When our previous insurance carrier decided late in the game to no longer cover long-term care providers, we began a search for new coverage and thankfully HCP. Our representative ran circles around other account managers we had spoken with and found coverage at a competitive price, all within our limited timeframe. HCP’s team members are the sort of people you look forward to working with; we give HCP an enthusiastic 5-star rating.

Pam F.

I have been a long time client of HCP for professional liability insurance for my practice and my representative 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 HCP to all doctors.

Michael L.

I found HCP National Insurance Services, Inc. by looking online for a commercial liability insurance provider. It was the best experience I have had with a 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.

Alison F.