Get assurance, get insurance
You need insurance, or think you might (have you read up on Risk Management yet?). But what insurance policies and which insurers are best suited to your particular circumstances? What is a competitive premium and what is the insurer’s reputation for paying claims? What if a major claim occurs and the insurer turns up with a team of lawyers and consultants to assess whether they will cover you?
That’s where we can help you. We have assisted hundreds of clients by establishing and managing their insurance program.
Why transfer your risks to insurance?
- Legal requirement – such as workers compensation, or medical indemnity cover for registered healthcare professionals.
- Contractual requirement – such as the requirement in a lease to hold public liability insurance as the tenant, or medical indemnity cover when contracting to a hospital.
- As part of a risk management strategy – to protect the business from significant financial loss.
Your ‘insurance program’ (the insurances you purchase) should include an assessment of your legal and contractual insurance obligations and your major risks. Your insurance program should then address these obligations and risks and be tailored to you.
Common insurances a medical practice should consider:
Every practice is different, with different structures, activities and risks. Developing a Risk Register to identify your top ten risks is a great starting point. Our experience for a most practices who rent/own their own rooms and employee staff should consider the following insurances as a starting point: