Straight Talk About Insurance

We know your focus is on your practice and providing quality patient care and we also know that sometimes the language and terms we insurers use can be confusing. With so many choices beyond medical malpractice insurance, what products should you consider?  We’ve created a glossary of 10 terms to help you get through all the minutiae.

Employment Practices Liability – Provides defense costs and indemnity protection from employee allegations of discrimination, harassment and other employment law claims.

Business Owners Policy – Combines your property, general liability and business income coverages into one policy.

Physicians Regulatory Liability – Covers fines, penalties and related limited defense costs for government audits (Medicare/Medicaid). Also provides limited defense costs for HIPAA, STARK and EMTALA violations.

Personal Insurance – Automobile, home and personal umbrella protection for individuals and families.

Workers’ Compensation – State mandated medical coverage for your employees when injured at work. Requirements may vary by state.

Cyber Liability – Provides protection for various computer based risks, including network security, privacy, viruses, digital media and notification of breach, etc.

Directors & Officers Liability – Covers defense costs and indemnity protection for the officers and directors of your practice for claims from employees, patients, vendors and creditors.

Fiduciary Liability – Protects your employees who have discretionary authority over a benefit plan or assist in its administration.

Commercial Umbrella Liability – An additional layer of coverage which increases your general malpractice protection.

Medical Malpractice Insurance – Protects your assets and reputation against claims of negligent acts or omissions that result in injury or harm to your patients.