Nursing agencies are responsible for providing invaluable healthcare staffing services to facilities across the country. But in order to focus on this very important job, they need the right insurance policy. With nursing agency insurance, your healthcare agency can have peace of mind knowing that you’re protected from financial losses relating to lawsuits, property damage, and more. Continue reading to find out if nursing agency insurance is right for you.
Why purchase nursing agency insurance?
The answer to this question is simple: for financial protection. Nursing agency insurance is one of the top ways of protecting your business from the financial ramifications of an unforeseen incident. Incidents like third-party lawsuits, theft, or a fire breaking out and damaging your property can have catastrophic results. But with nursing agency insurance, your insurance company can help cover the costs of such events.
Insurance coverage for nursing agencies
Nursing agency insurance policies vary but typically include the following types of coverage:
- Medical Malpractice/Professional liability insurance: Professional liability insurance, sometimes referred to as medical malpractice or errors and omissions insurance, aims to protect nursing agencies from patient claims of negligence, error, or malpractice. This type of coverage is especially important for those in the healthcare industry, where these types of claims may be more common and can be extremely serious if claim involves death or disability.
- Commercial general liability insurance: Commercial general liability insurance is important for all healthcare agencies, including nursing agencies. Whether your nurses end up working in a hospital, at a patient’s home, or in a general practitioner’s office, this type of coverage can protect them if they accidentally damage property or suffer an injury in the workplace.
- Commercial property insurance: Commercial property insurance protects the building in which you operate your nursing agency and any business-related contents (such as computers or other electronics) from damage caused by an insured peril, like a windstorm, fire, theft, and vandalism.
- Cyber liability insurance: If your nursing agency stores confidential customer information online, such as medical information, cyber liability coverage might be useful. This way, if your system is ever hacked or breached and confidential data is stolen, your insurance company can help cover the costs. Costs that might be covered in the wake of a hack or cyberattack include legal fees, credit monitoring, patient notification, and more
- Abuse liability insurance: Abuse liability insurance can protect your nursing agency if a patient brings a lawsuit alleging abuse or misconduct against one of your employees. With this type of coverage, your insurance provider will pay for legal fees, including defence costs, up to the policy limit.
Protect your nursing agency with the right insurance coverage from ALIGNED
Let ALIGNED help you protect your nursing agency. From the moment you contact us, our expert brokers will work around the clock to find you great coverage at a competitive rate.
From professional liability insurance to cyber liability insurance, we will find a policy with the exact coverage you want and need. Get in touch today to learn more about nursing agency insurance, or click here for a free quote.