We also provide workplace safety programs specifically designed for the healthcare industry. Safety programs are an essential part of your medical business’s risk management plan and can help lower your insurance costs when safety measures are applied appropriately.
There are many commercial insurance products healthcare businesses may need to purchase to protect their interests.
Another important commercial insurance coverage for healthcare professionals is Professional Liability coverage. Commonly called Errors and Omissions (E&O), this insurance is meant for health professionals to help reduce their risks when professional errors occur. Doctors and other medical professionals can make mistakes or misdiagnose illnesses, which can cause grievous injuries to people. Professional liability coverage is therefore critical insurance for many health professionals.
Your healthcare business may need a Cyber and Privacy Insurance policy if it does business online. Has your telehealth business exploded since pandemic-related shutdowns changed patient care to an often-virtual model? If so, you may need additional cyber coverage to mitigate the additional risks of telehealth and other virtual services.
Workers’ Compensation is critical for health care businesses. You are in the business of taking care of people, and Workers’ Compensation coverage helps you take care of your employees, too. Workers’ Compensation helps pay for injuries and lost wages incurred by injured workers and protects your business from lawsuits.
Business Interruption, or Business Income coverage, helps protect you if a covered loss causes your business to shut down or slow operations. Many businesses rely on this insurance to protect them if they cannot do business at their location.
Does your health care business have vehicles or a fleet to insure? Medical vehicles can house expensive specialty equipment and drugs, so your insurance needs are complex. Make sure your fleet is covered, along with any equipment, medications, employees, and patients it may be transporting. Commercial auto coverage can help protect your vehicles.
Health care businesses have unique and important insurance considerations. Any business working with patient care shares liability concerns that must be managed through sound risk management, combined with the proper insurance coverage.
Let us help you manage the hazards your health care business faces every day with insurance products designed for your specific needs.
