Due to the nature of the business, healthcare providers must carefully inspect and consider their unique insurance needs. A comprehensive policy providing total protection is particularly important, which is why effective healthcare facility insurance should touch all the bases.
Like any other business, healthcare providers must take care to secure coverage that protects assets, employees and services. A quality facility insurance policy is sure to include the following:
- Property coverage includes coverage for damage to facilities and personal property and provides security in the event of a disruption of operations
- General liability protects against claims of injuries suffered in the facility
- Business automobile includes protection for private vehicles and vans used for transport
- Boiler and machinery coverage provides security in the event of equipment malfunction
- Crime insurance mandates coverage for loss due to fraud, embezzlement or other business crimes
- Workers compensation includes coverage for work-related illnesses or injuries and is required for any business with more than one employee
- Directors & officers liability provides security for actions brought against non-employees of the facility, such as volunteer board and committee members
- Cyber liability offsets costs following a security breach and is growing in importance with the explosion of cyber-attacks on personal information
Additional options exist to provide a customized total coverage package. Examine the needs of your business and take steps to ensure that you are fully covered.