Like any commercial enterprise, healthcare businesses need to ensure they’re protected from complaints and compensation claims made against them. Indeed, the consequences of a medical malpractice claim mean it’s critical that healthcare clinics and workers have the right type of cover in place.
Independent healthcare clinics are becoming increasingly popular within the UK, which means that surgeons, consultants, and doctors have more opportunities to work privately. Although independent practice can be an excellent career choice for medical practitioners, it’s important to remember that any protection you receive under NHS or HSC negligence schemes doesn’t extend to private work.
Due to this, you’ll need to determine exactly what type of cover you need to provide sufficient legal protection. To get started, take a look at these six types of insurance that every healthcare clinic needs:
1. Medical Professional Liability
If you face medical malpractice claims arising from your work in an independent practice, this type of cover will provide the legal protection you need. As well as funding your defence, medical professional liability insurance will cover the cost of settlements or compensation pay outs (up to the amount set out in your policy terms).
2. Public Liability Insurance
Public liability cover is something that virtually all businesses should have, but healthcare clinics shouldn’t overlook the importance of it. Although it isn’t sector-specific, it provides cover if a member of the public is injured on your premises.
3. Professional Indemnity
Surgeons, consultants and doctors often undertake work which isn’t directly related to delivering acute medical care. You may train other healthcare professionals or maintain medical records, for example. If a mistake is made, a patient or other professional could take legal action against you. Professional indemnity insurance provides legal cover for these types of situations and ensures you won’t face personal liability.
4. Professional Reputation Damage
If claims are made against you, it can have a serious impact on your professional reputation, even if the claims are revoked or unfounded. Choosing an insurance policy that includes cover for professional reputational damage means you’ll be able to access funds to reverse the harm that has been caused to your reputation and restore your standing and character.
5. Commercial Legal Protection
Other types of indemnity insurance don’t typically extend to the cost of defending yourself at disciplinary, coronial or GMC hearings or HMRC investigations. However, these costs can quickly escalate, so it’s not something you’ll want to be personally liable for. Commercial legal protection will ensure you can access funds to cover these costs, in the event that a complaint is made against you or an investigation is launched.
6. Cyber Liability
All types of professionals need to consider the impact that cyber events can have on their professional standing and business operations. Due to the GDPR and the strict data regulations applied to the healthcare industry, clinics can face costly fines, sanctions, and compensation claims as a result of a cybersecurity breach. As a result, cyber liability insurance is well worth considering.
Getting the Legal Protection You Need
With so many different types of insurance available, it can be time-consuming to take out numerous different policies. However, you can access all of the cover you need by choosing just one provider. Becoming a member of Incision Indemnity, for example, means you’ll benefit from medical professional liability, professional indemnity, public liability and cyber liability insurance, as well as securing commercial legal protection and funding for restoring your professional reputation.
By choosing a cover that incorporates a wide variety of policies, you can ensure that you have all the protection you need when practicing. What’s more – working with just one provider means there will be no delays when it comes to accessing medico-legal support, legal advice, or representation.