As your facility treats more patients who need eldercare, the chance of making a mistake or error goes up. It’s just basic statistics that risk increases with more people. As a director of a professional organization that works with seniors, you need to make sure that you have the right hospital professional liability insurance that covers all the risks that your business faces throughout the day. One small mistake could have big consequences. Insurance will protect your assets and finances from the cost of a defense and potential settlement.
Many businesses don’t realize the importance of having a complete insurance portfolio with Errors & Omission (E&O) insurance. While your general liability insurance covers a great deal, it does have limitations. If you haven’t read your insurance policy in a while, you should get it out and take a look to know exactly what it does cover and what is excluded.
Your insurance representative is here to assist your facility in putting together comprehensive coverage that meets the needs of your organization. Protect your volunteers, staff, visitors, patients, and officers of your board with a portfolio of insurance products including hospital professional liability insurance so that you can keep providing the much-needed service of eldercare to your community. Work with your insurance company to find the right insurance at the right price to stay within your budget.