Insurance for Doctors and Physicians Offices

Doctors and physicians are educated and licensed to deal with the overall medical health and physical concerns of their patients. Some are general practitioners, working with patients of all ages on routine health matters such as preventive medicine. These often act as primary care doctors who pre-screen patients according to their symptoms, prescribe medication for common ailments and refer patients in need of more serious medical evaluation and intervention to specialists.

Doctors may have advanced education and training in a particular medical specialty, such as cardiology, gastroenterology, or neurology. Most doctors work from their own private offices and either a hospital or clinic to which they refer patients for laboratory tests, surgery and post-operative care.

Recommended Insurance Programs for Doctors

Minimum recommended coverage:

• General Liability
• Medical Malpractice—Professional Liability
• Property Insurance
• Hired and Non-Owned Auto (full commercial auto if vehicles owned)
• Commercial Crime
• Business Income with Extra Expense
• Workers Compensation

Other coverages to consider for Physicians:
Employee Dishonesty, Money and Securities, Accounts Receivable, Computers, Physicians and Surgeons Floater, Valuable Papers and Records, Automobile Liability and Physical Damage, Employee Benefits, Umbrella Coverage, Workers Compensation, Earthquake, Flood, Equipment Breakdown, Computer Fraud, Forgery, Cyberliability (Data Breach), Employment Practices (EPLI) and Stop Gap Liability.

Common Liability Risks and Needs Associated with a Doctor’s Office

General Liability Insurance
GL exposure is moderate for medical offices due to public access to the premises. The customer areas should be neat with no obstructions. Trips, slips and falls are one of the primary concerns. Adequate lighting, marked exits and egresses are necessary. Any steps should have handrails, be well lit, marked and in good repair.

If surgery is performed, the area must be kept sterile at all times and carefully controlled. The patients’ area should be designed for patients who are physically impaired following the surgery. Escort procedures should be clear for all personnel.

Medical Malpractice Insurance (Professional Liability)
Professional liability exposures for medical malpractice are extensive. All doctors and all employees should be well trained, experienced and properly licensed. The more types of procedures that the doctor performs, the higher the chance of professional loss. Needles and other equipment must be sterilized and sanitized to prevent the spread of blood-borne infectious diseases such as hepatitis, HIV and AIDS. On-site surgery should always be closely monitored, with an experienced trained individual administering and monitoring the use of any anesthetics.

Property Insurance
Property insurance may include the company’s building, fixtures and personal property. Property exposure is moderate due to the use of expensive diagnostic and medical equipment. All electrical wiring must be up to code and the equipment properly maintained. A small fire which produces smoke can cause considerable damage when sterile equipment and environments are compromised.

If pharmaceuticals are kept on premises, theft is a concern. These items should be inaccessible for unauthorized use and stored in a protected area after hours. Most property items are better covered on inland marine forms such as a computer form or the physicians and surgeons floater. The business income and extra expense exposure can be minimized if the doctor has arranged for temporary facilities with another doctor.

Commercial Auto
Automobile exposure is generally limited to hired and non-owned liability insurance for employees running errands. If the doctor or other personnel travel to client locations, the radius of the area driven, the age, record and training of the driver, as well as vehicle maintenance should be monitored.

Commercial Crime Policy
Crime exposure generally results from employee dishonesty of both money and inventory. Background checks should be conducted on all employees handling money. Many medical offices keep pharmaceuticals on the premises. Rigid controls should be maintained including inventory control and limited access to storage areas. All ordering, billing and disbursement should be handled by separate individuals. Deposits should be made regularly and money should not be kept on premises overnight.

Inland Marine Coverage
Inland marine exposure for medical offices includes accounts receivable, computers, physicians and surgeons equipment, as well as valuable papers and records. Accounts receivable coverage is needed if the physician bills for their services. Computers are used for patients’ records and other office purposes, but some medical equipment, such as video equipment and x-ray machines are also computerized. Physicians and surgeons floater includes items that the doctor may take off site to handle emergencies, and can be extended to include all office furnishings. Duplicates of all records and programs should be kept off site.

Equipment breakdown exposures may be high for doctors if operations are dependent on expensive medical equipment being available at the premises, particularly if the doctor specializes in a particular field. All equipment should be maintained on an ongoing basis and properly insured for it’s applications.

Workers Compensation Insurance
Workers compensation exposure is due to the possible transmission of disease from a patient. Gloves and masks should be worn at all times when working around any bodily fluids. Training and safety equipment should be in place to prevent exposure to radiation when performing x-rays. If employees travel to patients’ residences there should be monitoring procedures in place that include emergency back-up. Unruly or unpredictable patients can cause harm including strains, back injuries and contusions.

Business Liability Insurance Quotes for Doctors

General Liability Shop.com offers affordable liability insurance quotes for Doctors throughout the U.S. Our Medical Office programs include all lines of business insurance, as well as our Target programs for business owners policies (BOPs). Contact one of our business insurance Specialists today at 800-900-8657, or start a quote online now.

Physicians Liability Classification Codes

Commercial insurance companies use various liability classification systems in order to classify and rate coverage premiums for Physicians. Here are the most common business insurance classifications for Medical Clinics:

Business Liability Category: Health Care Providers

SIC Business Insurance Codes:

• 8011: Offices and Clinics of Doctors of Medicine
• 8042: Offices and Clinics of Optometrists
• 8031: Offices and Clinics of Osteopathy
• 8021: Offices and Clinics of Dentists

NAICS Liability Classifications:

• 621111: Office of Physicians (Non Mental Health)
• 621320: Office of Optometrists
• 621320: Office of Dentists
• 621498: All Other Outpatient Care Centers
• 621330: Office of Mental Health Practitioners
• 621399: Office of Other Health Practitioners

Business ISO General Liability:

• 66561: Medical Office

Common Workers Compensation Class Codes:

• 8832: Doctors, Physicians and Office Staff