What Insurance Do I Need for My Health Care & Allied Professions Business?


Oct 30, 2020

Find out what insurance coverages your health care & allied health business needs.

For the Health Care and Allied Health Professionals industry, Business Insurance is critical and necessary as you work with the wellbeing of others, leaving your business highly susceptible to risks and claims. Within the Health Care Industry as well, your business has unique and different risks, which is why having tailored, customized insurance is key. The insurance needs of a dentistry are obviously drastically different than a bakery's! We break down what specific insurance coverages you need, who needs them and examples of how these coverages help in common claims. 

Who Needs These Insurance Coverages in the Health Care & Allied Professions Industry?

Health care businesses and allied health care businesses should consider these insurance coverages; some examples include but are not limited to:

  • Medical Spa
  • Surgery Centres
  • Nurse
  • Staffing Agency
  • Home Health Aid
  • Clinical Research Trials
  • EMT (Emergency Medical Technician) Paramedic
  • Dentist
  • Ambulance – Medical Transport
  • Pharmacy
  • Adult Daycare
  • Physicians and Surgeons
  • Physician Assistants
  • Midwives
  • Naturopaths
  • Chiropractors
  • Psychotherapists
  • Psychologists
  • Social Workers
  • And more

What Insurance Coverages Do Health Care & Allied Professions Businesses Usually Need?

Professional Liability

  • Medical Malpractice and other Errors & Omissions arising from claims of professional negligence

Commercial General Liability

  • Coverage against bodily injury, property damage, personal and advertising injury

Cyber Liability

  • Covering privacy & data breach, data security and other electronic media issues

Sexual Abuse and Molestation

  • Speaks for itself, this would normally be excluded from other coverages (for example, not included with Professional, General or Cyber Liability)

Examples of When These Coverages Could Help Protect Your Health Care & Allied Professions Business:

Professional Liability:

  • Jeff & Wendy seeks the assistance of Dr. Timothy Smith, a relationship/divorce therapist. With two successful businesses he and his wife co-own and run, they financially have a lot at stake. Utilizing a combination of individual and joint sessions with the counselor, they proceed with bi-weekly sessions for close to a year. After a few weeks, Jeff begins to suspect that Dr. Smith is manipulating Wendy’s individual sessions to expedite the divorce process rather than to resolve their differences. He is furious when Wendy serves him with divorce papers including a demand for sole ownership of the two businesses. Jeff blames Dr. Smith for swaying Wendy’s decision and files a $160,000 lawsuit against him.

  • A nurse working in the home of a patient with mobility issues leaves the room briefly and returns to find the patient on the floor with a bruised head. The family of the patient sues the healthcare worker for negligence, claiming that if the worker had stayed in the room, the injury could have been prevented. The healthcare worker’s Professional Liability insurance policy provides coverage during the lawsuit.

Cyber Liability:

  • Posting any protected health information on social media websites, even in closed Facebook Groups, is a serious HIPAA violation. The same applies to sharing photographs and videos of patients via messaging apps such as WhatsApp, Skype, and Facebook Messenger. Unless prior authorization has been received from a patient in writing, nurses should avoid sharing photographs and videos of patients.

Every business and situation is unique - especially in the health care industry. That's why, it's important to speak to an insurance professional to review your specific insurance needs as a health care business. At Foxquilt, we can help provide you smarter, tailored business insurance customized to fit the needs of your specific business. No matter what industry you're in; insurance should be simple, quick and easy. Our Foxquilt team can help provide that for you. Get started on a quote for insurance built for your business today.

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