What is Health Care Providers Insurance?
Health Care Providers Insurance is the coverage purchased by a Florida health care facility such as a hospital, nursing home, or assisted living facility. There are various coverage components under the heading of Health Care Providers Insurance. Typically these policies provide various forms of property and liability insurance coverage for the insured facility.
What is covered under Health Care Providers Insurance?
Primary components of this insurance program are property coverage for owned buildings and equipment, as well as various general and professional liability coverages associated with the exposures of operating such a facility. Commercial Automobile exposure is also typically dealt with under a Health Care insurance program, in which a Florida Commercial Automobile Insurance policy is added. Employee injury is also a frequent issue in the Health Care industry, and appropriate Workers’ Compensation policy needs to be secured.
What are additional coverage options?
- Professional Liability – Provides coverage to the insured facility to protect against alleged negligence resulting from a professional error.
- Defense Outside Limits – Provides defense limits outside the base policy liability limits, thus maintaining the original policy limit without reduction for the paid defense expenditures.
- Personal Effects Coverage – Provides coverage for theft or damage to personal possessions of patients.
- Communicable Disease Coverage – Provides protection to pay for costs associated with the cleanup of contaminated buildings as mandated by a regulatory authority.
- Patient or Resident Evacuation Coverage – Provides payment to evacuate patients if the facility is deemed unsafe.
- Employment Practices Liability Coverage – This coverage provides protection to health care facilities in response to claims originating from employment related issues.
Is Health Care Providers Insurance Mandatory?
In most jurisdictions Health Care facilities will not be granted an operational permit unless the facility has secured the mandated general and professional liability insurances. In addition all lenders will require sufficient property insurance in place prior to closing a loan on a facility.