Neurologist Insurance
Commercial insurance is important for all medical professionals, including neurologists. Let the ALIGNED team protect the important work you do by helping you find customized coverage for your neurology practice, equipment and office.
Common risks faced by neurologists
Neurologists face all kinds of risks on a daily basis. From being sued by a patient for misconduct or malpractice to a thief breaking into your clinic and stealing expensive medical equipment, neurologists deserve protection, and that’s what neurologist insurance offers. While neurologist insurance policies ultimately vary from policyholder to policyholder, they generally aim to protect your practice from worst-case scenarios like property damage, lawsuits, and more. Some of the most common risks that neurologist insurance might be able to protect your neurology practice against include:
- Property damage: A fire breaks out and damages high-end medical equipment.
- Third party bodily injury: A patient slips on an icy walkway leading to your clinic and injures themselves.
- Medical Malpractice Lawsuits: You misdiagnose a patient and they sue you.
- Cyber attacks: A hacker gains access to your online patient portal and steals confidential financial and medical information about your patients.
Recommended insurance coverage for neurologists
Neurologist insurance policies vary, and it is ultimately up to you to decide which coverages to include with your policy. That said, the following are a few coverage types that may be beneficial to neurologists.
- Professional liability insurance: Professional liability insurance, also known as malpractice insurance or errors and omissions insurance, is a must for any professional whose clients depend on their advice, but especially so for medical professionals like neurologists. Under this portion of your policy, your insurer may help pay for legal fees (e.g. defence costs, settlements) if a claim of negligence, error, omission, misconduct, or failure to deliver an advertised service is brought against you or your practice, regardless of the lawsuit’s outcome.
- Commercial general liability insurance: Commercial general liability insurance, also referred to as “slip-and-fall insurance,” protects against the everyday risks that come with running a neurology practice. With this type of coverage, your practice may be compensated if a claim of third party property damage or bodily injury is brought against it. Specifically, the insurance company may pay for the cost of medical expenses, repair bills, legal fees, etc. up to the policy limit.
- Product liability insurance: If your neurology practice sells products, product liability insurance is important. Even if you didn’t manufacture these products yourself, you could still be held liable if a patient buys an item from you and it results in bodily injury or property damage. With product liability insurance, your insurance company might cover you in the event of a lawsuit.
- Commercial property insurance: Commercial property insurance can safeguard your neurology practice against property damage caused by unexpected events like theft, vandalism, fire, water damage, etc. When you add this coverage to your neurologist insurance policy, your insurer may pay for repairs or replacements if your practice or its business-related contents are stolen or damaged due to a covered peril.
- Cyber liability insurance: If your neurologist practice stores confidential data online, such as medical or financial information, cyber liability insurance matters. With cyber liability coverage, if your neurology practice falls victim to a hack, data breach, or cyber attack, your insurance company may help cover the associated costs (e.g. credit monitoring, crisis control, patient notification, and more).
- Sexual misconduct insurance: A single claim of sexual misconduct can have major repercussions for any business. Thankfully, sexual misconduct insurance exists and can help pay for the legal fees associated with defending your practice or an employee at your practice against allegations or claims of sexual harassment and sexual abuse.
Are you ready to ALIGN your neurology practice business with top-notch commercial insurance?
ALIGNED is here to help your neurology practice find a commercial insurance policy that meets its needs. Get started today by giving us a call. One of our licensed brokers can explain your insurance options and walk you through the process of buying neurologist insurance through a broker. From the moment you get in touch, let the ALIGNED team handle everything. For a hassle-free insurance experience and dynamic, tailor-made commercial insurance solutions, contact ALIGNED. Get in touch today for more information on neurologist insurance or click here for a free quote.
