The healthcare industry is multifaceted, encompassing a range of professionals and institutions, from private practicing physicians to dental offices, chiropractors, rehabilitation specialists, surgery centers, clinics, and hospitals.
At Mason-McBride, we understand the intricate needs of healthcare clients and are dedicated to providing insurance solutions that safeguard your practice.
What Type of Insurance Do Healthcare Practices Need?
Healthcare practices have unique risks, and comprehensive insurance coverage is essential to protect their business. Mason-McBride offers a suite of insurance policies to address these risks:
General Liability Insurance:
General liability insurance can help protect your business against claims for bodily injury, property damage, advertising injury, errors, or omissions. In addition, without this coverage, you may be responsible for paying out of pocket for legal costs, such as attorney fees and settlement amounts.
Professional Liability Insurance:
Also known as Errors and Omissions (E&O), professional liability insurance can help protect your business from consequential loss resulting from negligence claims associated with your professional service. Professional liability claims involve allegations whereby the customer alleges they lost revenue or incurred expenses because of the negligent rendering of professional services.
Workers Compensation Insurance:
Worker compensation insurance provides benefits to help employees recover from work-related injuries or illnesses. It can also benefit your employees' families if they lose their lives in a workplace accident. Factors such as job risk, claims history and payroll size can affect workers' compensation costs.
Commercial Umbrella Insurance:
Commercial umbrella insurance extends the coverage limits for some of your liability policies. So, if a claim exceeds the limits on your policy, your umbrella insurance can help cover the difference.
Business Property Insurance:
Business property insurance covers equipment, signage, inventory, and furniture in the event of a fire, storm, or theft. However, it doesn't cover mass-destruction events like floods and earthquakes.
Cyber Liability Insurance:
Cyber liability insurance helps your business respond to a data breach if personally identifiable information gets lost or stolen. In addition, many policies will include extortion coverage, business income protection, and systems failure, all caused by a breach.
Commercial Crime Insurance:
Commercial crime insurance protects organizations from losses due to criminal acts such as theft, embezzlement, and fraud. It can provide coverage against losses resulting from the actions of employees and customers.
Why Work With Mason-McBride?
At Mason-McBride Insurance, we are a locally-owned Michigan business that places our clients at the heart of everything we do.
Healthcare practices vary significantly, and a one-size-fits-all approach is inadequate. Our dedicated agents will walk you through the process and assist you in selecting from a range of reputable carriers.
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For more information on how we can help protect your healthcare practice, contact Mason-McBride today to discuss your insurance needs.