Insurance Solutions for Allied Health Care Providers
Every allied health provider knows that when working with patients, there's always a risk of something going wrong. And even small mistakes or misstatements can result in big problems.
Whether you're an audiologist, dietitian, nutritionist, music therapist, occupational therapist, optician or speech pathologist/therapist, operating an allied health business carries a certain level of risk.
Most allied health care providers don't have deep pockets. If you are sued – regardless of whether or not you are at fault – defending yourself against a lawsuit can quickly drain your bank account.
If you are blamed for an error or omission that results in damage, personal injury or loss of property, can you afford a legal defense? Or worse, could you pay restitution if you're found at fault?
The answer is yes, you can – if you have the right insurance.
We provide affordable General Liability insurance and Professional Liability coverage for a variety of allied health care positions including:
- Music therapist
- Occupational therapist
- Speech pathologist/therapist
What is the most important type of business insurance coverage to consider?
At a minimum, allied health providers need Professional Liability insurance to protect them from lawsuits related to errors or omissions in their work. With Professional Liability insurance, also known as Errors and Omissions insurance, from Business Insurance Now, you can be confident that you are protecting yourself and your assets with coverage that's a perfect fit for your needs.
Want to learn more? Read our FAQ section below for answers to the questions we hear most from allied health care providers about Professional Liability insurance.
Why should I choose Business Insurance Now?
You expect a lot from yourself, and you should expect a lot from your business insurance. Allied health providers tell us that they want to:
- Find a simple solution for all coverage needs
- Save money without sacrificing quality
- Get big coverage for small businesses
- Get peace of mind and the confidence that assets are protected
- Meet contract requirements
- Talk with experienced, responsive agents — real people with real answers
- Be able to quickly reach a supportive expert when needed
- Be empowered to understand the risks and choose the right coverage
- Receive competitive quotes from leading carriers
- Get claims service
Business Insurance Now offers all of that, and more. We know the allied health business and offer knowledgeable, personalized support and education to help you choose the coverage that's just right for you.
- The expertise and stability of an A.M. Best A+ rated carrier
- Coverage on an occurrence basis to protect you against incidents that occur while the policy is in force, regardless of when the claim is reported
- Custom limits
- Triple aggregate limits
- No deductible on general and professional liability
- $10,000 off-premises property coverage
- $10,000 premises medical pay coverage
- Blanket defined additional insured coverage
- Enhanced coverage for outdoor property
- Business interruption coverage
- Interest-free installments for accounts that generate at least $5,000 in premium
- Umbrella liability limits are available
When you choose Business Insurance Now, you can be confident that you've chosen a trusted insurance provider who will be there when you need us.
With skill and luck, you may never face a lawsuit. But if you do, you'll wish you hadn't taken the risk of going without insurance. Protect yourself and your company. Apply for a free quote from Business Insurance Now today.
What is Professional Liability insurance, and why do I need it?
Also known as Errors and Omissions insurance, Professional Liability insurance protects you or your company against the financial devastation that comes from being charged with either a negligent act or failure to perform your professional duties. Professional Liability insurance generally covers you for claims alleging errors and omissions, negligence or misleading statements made on the job.
The health care business is fraught with claims, and liability can be significant. If you don't have Professional Liability insurance, you could be risking not only your business, but also your personal assets.
In such cases, your Professional Liability or E&O insurance would pay for your legal defense, as well as damages that you or your firm may be legally required to pay, up to the dollar limit specified by your policy. That protects your company and your future by helping you keep your business running as potential lawsuits move through the courts.
How does Professional Liability insurance fit with my risk management strategy?
Professional Liability insurance is an important part of a comprehensive risk management strategy that includes:
- Identifying and documenting potential risks, and developing strategies to prevent them from becoming problems.
- Transferring some risk to an insurer by purchasing an insurance policy.
- Reducing risk by implementing projects in small increments, with careful attention to risk management at every step.
- Avoiding risk by choosing not to take on risky activities. However, refusing to take on risk may cause you to lose out on potential profits or business gains that may come from taking that chance.
- Retaining some level of minimal risk, in cases where insuring against a risk would be more costly than the potential losses you could sustain. In instances where these risks become problems, your company accepts any losses that occur. In reality, any risk that you do not transfer or avoid is retained.
I am a solo allied health practitioner, and because I'm a therapist, I believe that my job doesn't carry much risk. Yet, in order to practice, I'm required to have professional liability coverage. Why?
Even when you do your absolute best work, there's always some risk that someone you interact with will be dissatisfied. And any dissatisfied patient or client company could file a claim against you. Even if you're not at fault, without Professional Liability insurance, you would have to pay for your own legal defense and any potential settlement costs.
One of the most common types of lawsuits brought against allied health providers deals with negligence in the performance of professional duties. These types of suits seek damages sustained when you fail to perform your job according to established standards of conduct for your field. The costs of a legal defense, not to mention a settlement, can be devastating in such cases.
Even if you work for someone else, your company's Professional Liability coverage may not be enough to protect you in the event of a lawsuit. Ultimately, maintaining Professional Liability insurance is the responsible thing to do.
What is not covered by Professional Liability?
It's important to understand what professional liability policies do not cover. Professional Liability insurance is not designed to address every type of risk you might have. Be sure to review the "Exclusions" section of your Professional Liability policy for these and other common exclusions:
- Unfair trade practices: A competitor sues you for taking one of its clients after hiring one of the competitor's employees.
- Non-payment of fees: A vendor sues you for failing to pay an invoice.
- Willful or dishonest acts: A client sues you, alleging that you knowingly and intentionally defrauded it or intentionally misrepresented your services. Insurance policies respond to allegations of negligence, not allegations of illegal activity.
What types of allied health professionals and companies do you cover?
Business Insurance Now covers the entire range of allied health professions including:
- Ambulatory Surgery Centers
- Art, Dance, Drama Therapist
- Dialysis Centers
- EEG Technicians
- Faith-Based Counselors
- First Aid Trainers
- Fitness Instructors
- Health Educators
- Home Health Aides
- Laser Eye Centers
- Medical Spas
- Occupational Therapists
- Medical Offices
- Personal Trainers
- Physical Therapists
- Recreational Therapists
- Rehabilitation Counselors
- School Guidance Counselors
- Speech Pathologists
- Wellness Counselors