Due to the increasing costs of health care, many people prefer to go to urgent care facilities and in-house clinics in order to get a proper diagnosis. These clinics are great at diagnosing simple ailments such as the flu, pneumonia, allergies, and other issues. They also bring in new clientele who haven’t been to your pharmacy before. The downside to this increased traffic is the additional insurance policies needed.
Wondering what insurance policies your pharmacy may need to add for your in-house clinic? Here’s how to decipher whether or not you have enough liability insurance for your business.
Types of Liability Insurance
While you more than likely have a general liability policy in place, it isn’t enough to ensure that your pharmacy is covered should something happen to a patient in your in-house clinic. There are additional policies that you should have, including these options:
Professional Liability Insurance
This type of liability protects professionals from mistakes that they make that can impact their patients. In this particular case, professional liability insurance is called medical malpractice insurance. Should something go wrong with a patient’s treatment, and they sue the clinic, the practitioner’s medical malpractice insurance can cover court costs and settlement amounts.
It’s best to inquire about whether the entire pharmacy (which should already have its own professional liability insurance) can be covered in one policy or if you need to get individual policies for each one.
Workplace Liability Insurance
A lot of issues can occur with an in-house clinic. Patients can accidentally (or on purpose) damage things in the clinic or pharmacy. The practitioners can accidentally break things as well, like cabinets or drawers. When these incidents occur, the damage needs to be fixed. Rather than go after the patient or employee for their mistakes, you can opt to use your workplace liability insurance.
Workplace liability insurance policies are designed to cover things that happen inside your business that fall outside of the scope of your general liability insurance. It can pay for repairs, injuries, and more.
Additional Types of Liability Insurance for In-House Clinics
On top of the previous options, there are some other forms of liability insurance that can save an in-house clinic from having to pay for mistakes and incidents out of pocket. These include umbrella liability insurance, which is available at higher policy amounts than general liability and kick in when the general policy is exhausted.
Another option is cyber liability insurance. Hackers are no longer going after just large companies. They’re also targeting small ones, and your pharmacy and in-house clinic contain a lot of patient information that needs to be kept confidential. If your business gets hacked, you’ll need to issue notices to patients, take the time to rebuild and secure your system, and more. These additional costs can be expensive out of pocket, which is why cyber liability insurance exists.
Have Questions? Contact Charlotte Insurance
Want to learn more about liability insurance for your pharmacy’s in-house clinic? Contact Charlotte Insurance. Our agents can explore and explain all available options and put together the insurance coverage plan your business needs.