Essential Coverage for Healthcare Professionals

Providing a Financial Safety Net for Peace of Mind

Professional Liability (PL), also called Errors & Omissions insurance, is crucial for those in healthcare, where it’s often known as Medical Professional Liability or simply Medical Malpractice Insurance. Since General Liability (GL) policies specifically exclude “professional services,” PL coverage is paired with GL on many policies to offer comprehensive protection. This pairing ensures that healthcare professionals are covered for both general risks and specialized professional risks.

Coverage for Medical Services and Professional Opinions

Professional Liability Insurance provides coverage for claims arising from professional opinions, the delivery of medical services, or even the failure to provide necessary care. If a patient suffers an injury or experiences a negative outcome linked to these services, this insurance steps in to manage the potential legal and financial impacts. For healthcare providers, this coverage is essential for ensuring both patient trust and financial security.

Professional Liability (PL) can also be referred to as Errors & Omissions, and in the world of healthcare, its commonly known as Medical Professional Liability or simply Medical Malpractice Insurance. General Liability policies exclude “professional services”, so this is why you often see PL and GL coverages being paired together on a single policy. Any type of professional opinions, the rendering of medical services, or failure to render medical services could all trigger this policy if the patient experiences an injury or has a poor outcome. (Physician Medical Malpractice Insurance)

Claim Examples

Elderly patient of a home care agency was being bathed by a caregiver when the caregiver walked out of the bathroom to answer a knock at the door, the resident fell and sustained a broken hip.

A resident at a Skilled Living Facility required regular wound care. Because the nursing facility was so understaffed, proper attention was not given to this patient, he was not regularly turned over, and the wound not properly cleaned. As a result, severe pressure sores developed, and the patient had further complications.

Coverage Features

  • Claims Made or Occurrence Coverage
  • Low Deductible or No Deductible options available
  • Additional Insured and Waiver of Subrogation language available
  • Admitted and Surplus Lines Carriers available
  • Who Is an Insured can include Contractors
  • Physicians, Nurse Practitioners, and other medical professionals can be added
  • And much more!

As the healthcare landscape evolves, robust insurance solutions become paramount. At MPL Risk, we understand the unique challenges your business is facing. We provide comprehensive professional liability insurance and workers’ compensation insurance in NJ and across PA tailored to safeguard your home healthcare agency or medical practice against unforeseen risks and claims.

Navigating the complexities of professional liability insurance can seem daunting. However, with MPL Risk, the process is straightforward and designed with your convenience in mind. Here’s how we ensure you get optimal coverage:

  1. Assessment of Your Specific Needs: We begin by understanding the specific risks associated with your home healthcare agency or medical practice. This involves an evaluation of your service offerings, staff qualifications, and operational procedures.
  2. Tailored Insurance Solutions: Based on our assessment, we craft a policy that addresses the unique aspects of your agency. Our policies are not one-size-fits-all but are customized to provide maximum protection.
  3. Competitive Pricing: Leveraging our extensive network and industry knowledge, we secure competitive pricing that aligns with your budgetary constraints without compromising coverage.
  4. Ongoing Support and Advice: Our relationship doesn’t end with the purchase of a policy. We provide ongoing support and advice to help you navigate potential claims, ensuring your business continues operating smoothly.

Focusing on these key steps ensures that each home healthcare agency or practice in PA receives personal attention and expertise, mitigating risks effectively.

For agencies and practices operating within Pennsylvania, having professional liability insurance isn’t just a regulatory requirement—it’s a crucial component of your business’s risk management strategy. Here are some benefits:

Protection Against Claims

This insurance shields you from claims related to errors, omissions, or negligence in the services provided by your staff. Whether it’s a misdiagnosis, incorrect medication administration, or any other professional error, professional liability insurance acts as a barrier, protecting your agency from potential legal repercussions and financial losses.

Financial Security

If a claim is made against you, having appropriate coverage ensures that the financial implications don’t threaten your business’s stability. Legal defense costs and potential settlements can escalate quickly, putting immense pressure on your resources. Professional liability insurance manages these costs effectively, allowing you to maintain operational integrity without jeopardizing your financial health.

Enhanced Credibility

Agencies equipped with comprehensive professional liability insurance are often viewed more favorably by clients who appreciate responsible providers. This type of coverage not only demonstrates your commitment to professionalism but also builds trust with patients and their families. It assures them that their welfare is protected under your care, enhancing your reputation and potentially attracting more clients.

Peace of Mind

Knowing you’re protected allows you to focus on providing excellent care rather than worrying about potential legal challenges. This peace of mind is invaluable as it enables you and your staff to deliver high-quality healthcare services without the looming fear of legal entanglements. It fosters a positive working environment and encourages better patient outcomes.

These benefits underscore why it’s essential for every home healthcare agency or medical practice in PA to have robust professional liability insurance. Ensuring that you’re adequately protected supports your business operations and contributes significantly to the overall well-being of those under your care.

Request a Quote

We would love to give you a quote! Please complete the form below to get started!

Our insurance agency serves clients in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, North Carolina and surrounding states. We pride ourselves on understanding your industry and providing simple solutions for your insurance program.

Contact us today and find out how we can help reduce your cost, enhance your coverage, or improve your peace of mind!

What our valued customers are saying...

Your opinion matters! Read what our customers have been saying, and leave your own review.