Health Professionals Insurance.
Health professionals have a huge amount of responsibility on a daily to day basis. Their job duties are often a matter of life-and-death. Because your job as a health professional can involve a lot of risks, you should make sure you have award winning cover to protect yourself, your business and any employees.
The following is an overview of the common risks to health professionals and the appropriate cover to protect against those risks, so you can focus on helping people and gain great peace of mind.
Why Do Medical and Health Professionals Need Insurance?
Medical and Health professionals need insurance to help protect themselves against the wide-ranging risks inherent in their jobs, such as malpractice, negligence and other claims that arise from liabilities or a breach of professional duty. Insurance for Medical and Health professionals can cover public and private hospitals, surgeries, clinical research units, industrial and occupational health clinics, care homes and more. The breadth of protection mirrors the extensive risks.
Who Needs It?
Anyone who works in the Medical and Health profession needs to seriously consider Health professionals insurance. This includes doctors, nurses or midwives, or more specialised positions such as occupational therapists, physiotherapists and paediatricians. For some, certain covers like medical indemnity may be a regulatory requirement, so make sure you know the specific requirements for your profession.
Depending on your regulatory body, you may already be covered.
For example, the National Health Service (NHS) insures most of its medical staff for the duties in their contracts. However, the NHS may not cover everything, and can render employees vulnerable by leaving gaps in cover. Whether the NHS or another health care organisation insures your professional conduct, the British Medical Association still recommends supplementary insurance to compensate for porous cover. Check your policy to determine whether it leaves you or your employees exposed.
Medical Indemnity Insurance
A comprehensive medical indemnity policy inspires the confidence to do your job without being plagued by the stress that accompanies allegations of negligence.
A typical medical indemnity policy will cover you on a claims-made basis in the event of malpractice, breach of duty or dishonesty of your partners, directors or employees in the course of business operations. It can also provide compensation for claims and legal services, and insure against actions or omissions of your employees.
Cover is usually arranged according to the specific medical profession. The following three main types of indemnity cover are organised by position:
Doctors and dentists may need to extend their Medical Professionals Insurance cover beyond NHS’ policy in order to practise medicine in affiliation with other professional health care organisations.
Extra private insurance helps protect against liabilities outside of the workplace, such as performing charity or volunteer work or administering emergency care while off-duty (Good Samaritan acts).
Doctors and dentists not under contract with the NHS will need their own medical indemnity insurance.
Nurses and doctor assistants are usually covered under their employers’ insurance, but should check just to be certain. Because patients may file a claim against employers or against nurses and doctor assistants personally, it is wise to make sure your employees are covered on both fronts.
Pharmacists will probably receive professional indemnity cover through their employers. Independent pharmacists, however, need insurance to protect themselves against a vast array of industry-related claims such as providing incorrect dosages or medications, failing to prevent adverse drug interactions or giving shoddy advice.
If you are a private medical professional and have your own premises, building and equipment, consider the following forms of cover to ensure you and your business are adequately protected:
Employers’ liability—required if you have employees
Property damage to contents and equipment
Loss of money
Public and products liability
Property damage to buildings
Insure Your Future
All it takes is one mistake or one false allegation to place your job and finances at risk. Your career as a medical professional is too important to be undermined by one regrettable instance. Help ensure a successful future by choosing a bespoke policy with Inspire Insurance Services that encompasses and anticipates your risks with Health professionals Insurance.