Commercial Insurance
for Medical Service Providers
Commercial Insurance
for Medical Service Providers
Excalibur Insurance keeps Ontario medical professionals working with coverage you can understand and afford.
Excalibur Insurance keeps Ontario medical professionals
working with coverage you can understand and afford.
What coverage do I need & where can I save on commercial insurance?
It’s the first question any business owner asks. How do I protect what I’ve built while being smart with my dollars? As a medical professional in Ontario there will be coverage you can’t open a clinic without, coverage to protect your team, coverage to protect your specialized equipment, and more. We’re here to help make sense of it.
The team at Excalibur supports medical service providers in all different professions. We understand your practice may be a few highly trained professionals or you might be in a larger hospital serving hundreds of clients a day. Whatever your business model, medical professionals deal directly with clients and sensitive health subjects which may result in the unlikely incident of bodily injury or perceived loss. A thorough coverage checkup will ensure you, your patient & team are protected accordingly.
Rest assured that the Excalibur team will review all possible coverages to protect you from significant loss.
We always keep these items front of mind.
At Excalibur insurance group, our commercial insurance specialists help you manage risk using our special risk and rate control process. We use our process, so you only buy the coverage you need; you have different options to consider, and we can help you evaluate and understand them.
Medical Service businesses, we can protect:
- Health & Wellness Clinics
- Pharmacists
- Optometrists
- Nurses
- Dietitians
- Nutritionists
- Massage Therapists
- Audiologists
- Acupuncturist
- Chiropractic
- Daycare Operators
- Physiotherapists
- Nursing Homes
- Laboratories
- Medical Device Manufacturers
The range of professionals in the Medical Services industry is varied, and professionals in the field have a wide range of duties and tasks. Medical service professions face new risks and exposures everyday as an industry that is constantly faced with increased and changing regulations.
Our team of Excalibur Defenders are there to provide business insurance suggestions and advice on how to manage your risks as a medical professional. If you are a Medical Services provider and you don’t see your business listed, don’t hesitate to reach out.
OR, Just give us a call and speak to an Excalibur Defender
Let’s Begin with the Coverage You Need to Grow Your Business.
Our Excalibur Insurance Brokers might ask a lot of questions – for good reason.
The wide range of services and duties your team may provide, means there are a number of different risks and exposures you face. Our team wants to ensure you have exactly the coverage you require.
There are a few areas of concern you may want to consider when reviewing your coverage as a medical services provider. While we will review specific coverages below these main categories are especially relevant to your industry.
Risk Management for Medical Service Professionals
As a medical professional, you are working directly with clients – and their health. You need to have a significant grasp on what risks your industry may face and how it affects both you, your team, and your operations.
- Negligence
One of the most prominent risks that the Medical Services industry and its professionals may be exposed to is medical negligence claims. These can come about whether or not a medical service professional truly caused harm or injury – so long as a claimant has perceived harm due to alleged failure of adequate care, they can make a claim against you, a member of your team, or your business. A claim can be filed so long as the claimant can establish that they were owed a duty of care and that that care was breached and caused harm. A duty of care always exists between a medical professional and their client – making it rather simple to prove that a duty of care was owed. - Property
For medical professionals, there is also risk to their physical place of business. Property exposure is particularly high in the Medical Service industry due to the nature of the property contents – namely, expensive medical equipment. While adequate care and maintenance of the physical property should be carried out, there is always the risk of theft and vandalism. Rigid control, inventory, security, and limited access to drug storage areas should be implemented to mitigate this risk. - Crime
Another exposure that the Medical Services industry may be faced with, which commonly comes as a result of employee dishonesty – often pertaining to drugs on premises. To mitigate or manage this exposure, screening and background checks should be done on every employee who may have access to drugs. Employee access should be restricted to a number of trusted professionals and inventory should be carefully monitored. Regularly performed audits may also reduce the chances of theft, although the risk may not be avoided entirely.
Business Insurance
for Medical Service Professionals
Designing the perfect business policy can be difficult – especially given how varied the Medical Services industry can be. The ideal coverage may depend on your business size, annual revenue, what services you offer, how many clients you have, and more factors. Excalibur Insurance Group can help you find the appropriate coverage for your circumstances and help preserve your business’ bottom line.
While you may not need all of the coverages listed below, it’s worth getting familiar with the ways your business can protect itself. A well protected business is a reliable one – able to confidently care for clients without fear of ‘what if’s’
Learn more over at our Blog!
