If you are running a chiropractic business, you must get some protection for your professional reputation. It provides a safety net safeguarding the name you have built over time. Getting chiropractic professional liability insurance is the way to realizing this goal.
Here are some of its benefits
License protection – it is unwise that a chiropractor does not get the insurance that protects the license he worked hard for years to obtain. A revocation of a chiropractic degree from extensive training in chiropractic care can happen in a snap, but insurance can help avoid it.
Occurrence and claims-made-based coverage – chiropractic professional liability insurance can cover a business from an incident that happens during the time of the policy (regardless of when one reports a claim). On the other hand, claims-based coverage offers protection for an incident that occurs (or is reported) within a specific period set forth by the policy. (your insurance provider can explain to you in detail the difference between the two.)
Cyber-security insurance – as businesses (including chiropractic businesses) continue to shift to a more efficient and economical digital management of data, we also see issues with data or information loss due to several reasons, including compromise and theft of electronic data. As a result, businesses may be liable for damages resulting from data compromise or theft of third-party data. Fortunately, you can protect yourself and your business by obtaining insurance that provides cyber liability coverage.
Data breach liability insurance – offers protection (covers the costs) to chiropractors facing a lawsuit stemming from alleged financial damage resulting from a data breach. Policies offering data breach liability protection generally cover expenses associated with informing parties affected by a breach to minimize the damage. It includes giving the affected parties access to things such as assistance hotlines and credit monitoring.
Talk to a chiropractic professional liability insurance provider today to learn more about its benefits and how to get started.