Malpractice Insurance: Protect Yourself From the What-Ifs

malpractice insurance for nurse practitioners

You’re in the healthcare profession as a nurse practitioner. You are doing what you love, helping people and making sure they reach their optimum health. But what happens when your best intention goes wrong? Nurse practitioners need to protect themselves from malpractice as much as other allied healthcare professionals. Malpractice insurance offers a buffer against losses due to suits.

Coverage

You should be aware of the limits of your current coverage. In many cases, nurse practitioners are required to carry liability insurance. However, this insurance does not protect against malpractice. Malpractice insurance extends extra coverage to nurse practitioners.

Caution

Remember that in any practice, the business itself comes first. In many cases, nurse practitioners are added onto any suits against doctors. As a nurse practitioner, you should have alternate individual insurance to protect yourself.

Competence

When looking for insurance, you should find a company that has three critical components. First, the company should have experience, especially in the area of allied health. Secondly, the company should have competitive rates. Third of all, the company should have the ability to provide an immediate quote without any hidden fees.

Malpractice insurance for nurse practitioners is a way of protecting yourself from the potential what-ifs. The day may never come when you are sued, but wouldn’t you rather be protected?

The Coverage Cornerstones of Manufacturing Insurance

manufacturing insurance

You’ve probably done some research and found that there is no shortage of insurance products out there; however, do you know which ones are the most important? If you’re in the process of searching for manufacturing insurance, make sure you start with the following coverage lines.

Products Liability

If a product that you’ve made and distributed causes bodily injury or property damage, a products liability policy will respond. Also, your liability is not limited to products that you have designed. If you provide goods with components designed by another company, you could still be dragged into a lawsuit.

General Liability (GL) and Property Insurance

Undoubtedly, you work hard to ensure that your business is safe, but you can’t prevent some accidents from happening. GL and property insurance are staples when it comes to manufacturing insurance. GL insurance works to protect you against third party lawsuits resulting from bodily injury or property damage. Property insurance can cover the business assets such as your buildings and equipment.

Workers’ Compensation

The fact of the matter is that workers in the manufacturing industry are at a higher risk of being injured on the job. When an injury happens, a claim can be made against you. Workers’ Compensation is an important coverage to have, as it covers an injured employee’s medical expenses.

There are certainly other coverage types that you’ll want to look into; however, these three are critical. Contact a manufacturing insurance specialist for more information.

Why You Need Malpractice Insurance

malpractice insurance Austin

Owning a business can be rewarding yet stressful. Even if you’re successful and all is going well, it’s important to keep your risks in mind. While you shouldn’t be paranoid or anxious, it’s only professional to make sure your exposures are covered and your risks are managed. Learn about risks involving lawsuits and how to reduce them with malpractice insurance in Austin.

Mistakes Happen

The sad fact is that no business is safe from making mistakes. You can provide the most stellar services but there may come a time when you or an employee messes up. If anyone in your company is negligent with a service or doesn’t deliver as promised, you could end up with an unhappy client and a costly lawsuit. Preparing yourself for the worst with malpractice insurance in Austin prevents you from being ruined by legal action in the future.

Frivolous Lawsuits Happen Too

Maybe your business remains steady, professional, and without error. Even in this case you’re still vulnerable to malicious lawsuits. Although you might not owe any damages, you could end up spending a lot on legal fees. This can be crippling for small businesses.

Don’t Wait

Don’t let your business remain vulnerable to these potential risks. Running a business requires having adequate insurance. Think about getting malpractice insurance in Austin today.

Indiana Malpractice Insurance: Are Caps and Limits a Good Idea?

Indiana malpractice insurance rates are cheaper than most states. The reason they are able to keep the rates low is because they cap the amount that can be awarded in a lawsuit. At the time of this writing malpractice awards could not exceed $1.25 Million in the state of Indiana. They set up a pool that is used to help insurance companies whose lawsuit payouts are greater than state set limits.

Participation for carriers in the state pool is not required. However, if carriers choose to participate, they will benefit from the cap in the event of any claims made. The limit set on carriers is currently $250,000. The state makes up the difference, i.e., $1 Million. These limits and caps make it possible for carriers to offer insurance at reasonable rates and it serves to keep the rates low.

Critics of state caps argue that there are plenty of instances where injuries resulting from medical mistakes have caused a lifetime of medical care for the injured. The $1.25 million will not even come close to covering what will be needed in that lifetime. These are valid points to be sure, but more often than not, the lawyers have to most to gain when no caps exist.
Although not perfect, Indiana malpractice insurance is thought to be a success in keeping insurance rates low.

Protect Your Practice With Malpractice Insurance for Veterinarians

Even though you make every attempt to keep your patients safe, accidents can happen when they are in your care. Dogs and cats have a mind of their own, and they can jump off the examination table without any warning. If they injure themselves, you can held liable. An even worse scenario is if you lose a patient during a surgery. Veterinary malpractice insurance protects your valuable assets if you have a mishap because of an act or omission that occurred during the performance of your services.

Although the courts consider animals as property, this does not mean that owners aren’t emotionally attached to their pet. You could find yourself and your business embroiled in a legal dispute that costly. Even if you are found innocent, the defense costs could cripple your company and everything you have built.

Find the veterinary malpractice insurance that protects your business when you work with an insurance company that specializes in your industry. Whether you work with small animals or large animals that you visit in their home, you can get the policy that manages your risk. Don’t rely on best practices or the benevolence of your patient’s owners. If something goes wrong, and you aren’t covered, you could lose your business. Protect your interests and discuss your insurance needs with a professional agent who can help you build the portfolio you need.