Controls and Procedures
There are some risk management controls that can help business owners protect themselves from lawsuits and claims. These include:
- Recall Plan
- Standard Agreements for Vendors
- Privacy Statement
- Standard Customer Contracts
- Getting Customer signatures on every phase of the project
- Vendor Certification Process
- Information Security Policy
- Quality Control Program
- Customer Contract Revision Provisions
These controls can help you prevent some legal actions against you. But, they are not enough. It seems that any person can sue you for any reason these days. Purchasing business insurance would give you access to a coverage that would protect your business in case of a claim. Below are the basic types of commercial insurance that are ideal for a medical practice:
- Professional Liability Insurance
- Workers Compensation Insurance
- General Liability Insurance
- Commercial Auto Insurance
Now, take a look at some examples of claims that may arise while your business is in operation.
General Liability Insurance claims. For example, a patient is in your clinic and they slip and fall while walking on your floor. Apparently, a staff left the floor a bit slippery when cleaning early in the morning. In case the accident injured the patient and decided to file a lawsuit against your clinic. The General Liability Insurance will help you pay the costs of obtaining a legal attorney.
Worker's Compensation Insurance claim. For example, a slippery floor that your cleaning staff left causes one of your employees to slip and break a leg. The Workers Compensation insurance will cover the lost wages and medical expenses brought on by the incident.
Property Insurance claim. In case a fire starts in your clinic due to a circuit breaker malfunction, and burns all your possessions. Property Insurance will cover the damages caused by the fire as well as the costs of cleaning the building from debris.
So if you are starting a new medical practice here in Las Vegas, take time to learn how to protect yourself and your business from any claims or lawsuits. An insurance agent can identify and explain the risks much further. Here at Western Pacific Insurance, we aim to provide comprehensive insurance policies that makes your life easier. You can get more information about our products and services by calling our agency at (702) 932-3105. Get your free quote today