If You Provide Hospice Care, You Need Liability Insurance

specialty insurance coverages

The end of life can be an extraordinarily emotional and painful time for many people. Those who offer hospice care provide an easier path through a dying person’s final days. Doing so, though, exposes the healthcare professional to special liability. If you provide hospice services, you need to explore specialty insurance coverages. That is, every hospice provider should have liability insurance.

Even though those who work in hospice care deliver a tremendous service to the community, they are not immune from liability lawsuits. Like any healthcare provider, a court can hold a hospice worker legally responsible for mistakes made during hospice treatment. If that happens to you, you can expect to pay a tremendous amount in legal fees and financial settlements. Regardless of how careful you are in performing your job duties, eventually you likely will make a mistake. Having a professional liability policy can insulate you from the extraordinary costs associated with a malpractice suit. Similarly, this insurance can protect your patients, should they suffer harm because of your mistake.

If peace of mind is important to you, as a healthcare provider you should have a comprehensive liability insurance policy. Fortunately, specialty insurance coverages provide protection for any mistake you might make. If you provide hospice care, consider purchasing liability coverage as soon as possible.

Special Medical Care Providers Need Special Insurance

specialty insurance lines

If you operate a home health care company, hospice, visiting nurse organization, or other special medical care organization, you probably understand the many unique risks that this industry faces. Fortunately, if you are looking for great business insurance, specialty insurance lines offer protection for the fast-growing home healthcare industry.

Home healthcare is an industry unlike any other. Medical professionals typically go into homes owned by private individuals to offer medical services. For hospice organizations, sympathetic nurses offer palliative care to help patients through the last stages of life. Both endeavors have potential to expose any organization to a tremendous amount of legal liability. Alarmingly, that liability can potentially extend to the company, its owners and directors, and the employees who work there.

Because of the unique services they offer, home healthcare companies and their employees require unique insurance. Fundamentally, every business needs property and basic liability insurance. For more comprehensive coverage, consider a policy with directors’ and officers’ liability, employment practices liability, regulatory audit coverage, and workers’ compensation insurance.

Those that offer home healthcare, hospice, and other special medical care services do a tremendous service. Unfortunately, in doing their job, these individuals expose themselves to considerable liability. If your company operates one of these healthcare services, consider purchasing coverage from specialty insurance lines.

 

A Specialty Insurance Definition

specialty insurance definition

What is specialty insurance? There isn’t just one specialty insurance definition. This type of coverage can apply to many different needs. So, speaking generally, it’s insurance over and above the traditional policies found for autos, businesses and homes. For example, if you collect antique cars, you might want extended coverage for your expensive hobby. In business, certain industries require insurance coverage that goes beyond your normal general, liability and workers’ compensation policies. One of these industries is health care, where administrators, doctors, nurses and other patient care technicians are held to very high ethical standards.

Facets of the medical industry that require unique policies include durable medical equipment suppliers, home health care providers, hospices, medical staffing firms, personal care and support services, and visiting nursing associations. Here, policies include things such as protection for the directors and officers of a health care facility and extended automobile coverage for those driving to their patients’ homes. When looking for a provider for your unique insurance needs, look to a company that can combine all of your insurance coverage into one affordable package. They should work with A++, A or better rated insurance carriers that have a history of being financially stable. What is a specialty insurance definition? Its someone who can meet all of your special insurance needs.

3 Tips to Choosing the Right Liability Insurance

pennsylvania professional liability

If you work in a highly skilled profession where your daily craft directly affects the well-being of clients, you understand the potential for lawsuit. If a customer or patient claims negligence or mistake on your part, you want to protect yourself and your interests. This is why liability insurance is so critical.

Understands Your Business

Always look for a liability insurance provider that currently has other clients in your industry and that has a long history of serving other customers in your line of work. This way, when it comes to Pennsylvania professional liability, you can be sure the provider understands the nuances of your business.

Do Your Homework

Protecting yourself against a malpractice or negligence lawsuit means everything to your career and livelihood. Make sure you do thorough research and compare and contrast all potential options. Make a list of pros and cons for all, and choose the one that meets all your needs, not the first one you come across.

See What Others Have Done

Chat with co-workers or other trusted colleagues in your industry. See what they’ve done for their Pennsylvania professional liability needs.

Hopefully you never need to use your liability insurance. But if you do, following these tips can give you confidence that youÕll have the protection and help you need.

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.

Insurance Solutions for Contractors

Construction general liability insurance

Understanding the difference between construction general liability insurance and other kinds of insurance is necessary for many contractors. The following describes some common forms of insurance.

Property Insurance

Your business property is part of what you have invested in your success, and it should be protected. Property insurance will cover tools and equipment for many contractors.

Builders Risk

This is a specific type of property insurance that offers coverage for fire, vandalism and other unforeseen events that may occur during construction. Each project will have a different value, and therefore different needs for builders risk insurance.

Construction General Liability Insurance

If someone files a lawsuit against your business for property damage or injury, liability insurance can protect you. It will cover injuries to non-employees and damages that may occur on property that is not owned by your business.

Commercial Vehicles

Commercial vehicle insurance needs will vary depending on state requirements. Individual contractors may need this insurance for coverage beyond what is offered by their personal auto insurance.

If you are shopping for insurance, from construction general liability insurance to builders risk coverage, it is important to find an insurance agency that will take the time to understand your business. This will help you know you are purchasing insurance that fits your needs.

After You File a Temporary Staffing Insurance Claim

temporary staffing insurance

One question to ask insurance companies you are considering for your temporary staffing insurance company is this: “What happens after I file a claim?” In company responses, look for a straightforward step-by-process and ease of contact.

Acknowledgement of Claim

In the first 24 to 48 hours after filing the claim, you should expect to receive written acknowledgement of the claim you filed. This acknowledgement should include the claim number as well as the name and contact information of the insurance claims professional handling the claim.

Contact from Claims Claims professional

Within one business day of the claim being received, the claims professional should contact your staffing agency to talk about the claim and where the process could go. This contact is normally via telephone.

If a lawsuit has been filed against your agency, the claims professional reviews your coverage and assigns you defense attorneys. They are chosen from a list of qualified area attorneys.

Responsiveness

Dealing with a temporary staffing insurance claim can be an overwhelming and uncomfortable process. It is important that your insurance company is responsive to your questions. To that end, ways to contact your claims professional should be clearly listed. For example, you should know your claims professional’s name, mailing address, phone numbers, fax numbers, website URL and email address.

Protect Your Manufacturing Company From Liability With a Product Liability Insurance Policy

product liability insurance policy

A product liability insurance policy protects companies in the even that products they manufacture injure someone or cause property damage. Product liability insurance is particularly important for businesses that deal in product manufacturing and production. It protects a business financially in the case of a lawsuit claiming product defects. Manufacturers are legally responsible for damages that may arise from the use of their products. The manufacturer has the responsibility to ensure that products are of high quality. Most liability claims are covered by a company’s commercial general liability policy (CGL). CGL policies generally cover bodily injury and property damage that occurs off business property that is the result of a product. Unfortunately, CGL policies do not cover damages to a product when the damage was caused by a faulty part or faulty workmanship during manufacture. If the manufacturer of the equipment is also the manufacturer of the faulty part, CGL policies do not cover damages. A product liability insurance policy goes further than a CGL policy and can be purchased independently of CGL.

Having product liability insurance is especially important for partnerships and sole proprietors. Unlike corporations, these business owners do not have a corporate shield to hide behind in the case of a lawsuit. Product liability exposure lasts as long as a product is in use even if the product is no longer in production. Therefore, your product liability insurance policy should be kept in force as long as the possibility remains that a product is in use and could cause injury or damage.

Specialty Insurance Programs Protect Niche Industries

Some types of businesses incur more risks of an unusual nature than most companies do. Examples of these enterprises include those in the hospitality, home medical care and entertainment and amusement industries. These types of ventures need protection against the specific risks they face in order to operate, so they turn to specialty insurance programs for the coverage they need. These programs protect niche segments and even unusual or rare assets.

Home health care is a growing industry and is much in demand. Niche coverage is required by such businesses as home health care providers, visiting nurses’ associations, hospice care providers, medical staffing firms and suppliers of medical equipment. This industry needs careful liability coverage designed for its unique exposures. Expert providers will work with you to tailor protection exactly to your needs.

Likewise, the hospitality industry is always strong and has some obvious liability needs. Others, though, may not be immediately clear, such as a need for protection against a driver who has consumed alcohol at an establishment then causes a traffic accident. Even individuals sometimes need specialized protection for items like antiques, boats, motorcycles, travel trailers and unoccupied dwellings. Specialty insurance programs meet the needs of focused industries such as home health care and give businesses that take unusual risks in order to operate the comprehensive coverage they need.