Professional Liability Insurance for Healthcare Professionals

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As a healthcare professional, you probably know that doctors are not the only professionals that can get sued for medical malpractice. Whether you are a nurse practitioner or a pharmacist you are at risk for a lawsuit. Give yourself some peace of mind by purchasing a Professional Liability insurance policy for healthcare professionals. Professional Liability is Medical Malpractice insurance that will provide coverage for many types of healthcare professionals if they are involved in a malpractice suit.

What Are Some Risks That Healthcare Professionals Face?

Unfortunately, mistakes can happen no matter how careful you may be. Depending on the type of healthcare professional you are, your risks may be more significant. Regardless of the magnitude of your exposure, it is crucial to be aware of it and protect yourself and your career. Some risks that you should always be mindful of include:

  • Your employers' Professional Liability coverage may be limited when covering you as an employee. Or, if you are an independent contractor, it is even more vital that you have your own liability insurance.
  • You can be prone to as much risk as a physician - sometimes even more if you are the first point of contact.
  • Departing from the standards of practice - In a situation where you might tweak your standard operating procedure to get done faster or deal with a problematic client, this could end up causing a mistake.

What Does Professional Liability Insurance for Healthcare Professionals Cover?

The Professional Liability insurance policy for healthcare professionals will cover the following at a minimum:

  • Bodily Injury - As a result from a medical injury. Keep in mind this is not going to cover slips and falls as that type of claim would fall under your General Liability insurance policy.
  • Mistakes - Since you are human these may happen. Hopefully, if they do, they will be minor, and you won't be brought into a lawsuit. Should a malpractice claim arise, at least you will have the peace of mind knowing your Professional Liability insurance for healthcare professionals covers you.
  • Defense Costs - If you have never been involved in a lawsuit before, you can't begin to comprehend how much it can cost. You not only will be responsible for court costs, but you will have to pay an attorney to defend you. A good defense can end up costing tens, if not hundreds, of thousands of dollars. You probably don't have that kind of money lying around, so this policy is essential to cover you.

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Who Needs Professional Liability Insurance for Healthcare Professionals?

Anyone within the healthcare field that is a licensed professional or student needs to be protected by a Professional Liability insurance policy. Some positions include, but is not limited to:

  • Counselors
  • Nurses/nurse practitioners
  • Occupational therapists
  • Pharmacists
  • Physical therapists
  • Physician assistants
  • Social workers
  • Students
  • Therapists

Business Insurance

Running a business is challenging enough without having to worry about lawsuits, employee injuries or property damage. Having the right insurance gives you the peace of mind to focus on what matters - running your business.

The coverage you need depends on the type of business you run. A restaurant owner needs to be covered against customers possibly getting food poisoning while an accountant needs to be covered against calculation errors. CoverWallet's intelligent assessment system will identify the insurance you need based on your specific business, get you a policy that fits your budget, and do it all in less time than you think.

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