The Healthcare Industry is as big as it comes when we’re talking about insuring a business operation. You face tremendous risks from patient abuse, to data breaches, to property loss from theft and fires. OnMarket Insurance Associates is a team of highly-skilled experts who love seeking out exposures to risk and then putting together a plan that protects you from it all.
Typical risks facing healthcare companies fall within these sectors:
Allied Health Centers
These facilities generally include: Routine Diagnostic Testing, Pharmacies, Eye Centers, Optical Goods, Sleep Studies, Physical and Occupational Rehabilitation.
Working with the elderly is a delicate business. We work with a range of assisted living, skilled nursing, continuing care facilities and ancillary support services.
The same goes for any business that requires you to enter someone’s home. We offer products and services, including: companion care, skilled care, hospice, physical and occupational therapy as well as other healthcare services delivered in the home.
Home Medical Equipment
We cover retailers and distributors of durable and home medical equipment and supplies.
Orthotics and Prosthetics
Coverage for fabrication, manufacturing, fitting and sales of orthotic and prosthetic devices.
Do you know of any specialized coverages or endorsements for the healthcare industry?
Yes, we can assist you with many specialized coverage needs. Most recently we have dealt with Independent Medical and Non-Medical Contractors Coverage, Medical Director’s Coverage, and Administrative Defense Endorsements to cover expenses related to any federal, state, local or other third party investigations (i.e. Medicare/Medicaid, HIPPA).
If I have an Occupational Therapy clinic with independently owned franchises, do I need to hold coverage for everyone?
No, not if you don’t want to offer that as part of your licensing agreement. You can choose what to cover for your business (so long as you meet the state’s minimum standards), but you will want to be clear with your franchise owners that proper insurance coverage is critical. Then check in to confirm that each location has the coverage it needs.
If I work with the elderly and someone dies on my watch, would I be covered?
With the right insurance policy, yes you would be protected in the case that you are found liable for the death. These are some of the options our team can discuss with you while customizing your policy.