More Experience + More Companies = Better Insurance Program
For over 80 years, The Herlihy Insurance Group has been providing solutions to the risks medical practices face everyday. We are often surprised to learn many medical practices have not even identified some of the more common insurance gaps in their program.
Are you confident your insurance program includes these important coverages?
Employment Practices Liability
Employee suits against medical practices and ownership for employment related claims, to include; Gender/Age discrimination, Sexual harassment, Wrongful termination, Emotional distress, Negligent promotion/hiring
Are you an owner, officer or trustee of a 401(k) plan or other qualified employee benefit plan, odds are, YOUR personal assets are at risk. Under ERISA Act of 1974 you can be held personally liable as a result of alleged errors, omissions or breach of duty for losses on a group benefit plan
Billing Errors and Omissions
Investigations into medical billing and coding can lead to fines and penalties even when the errors are honest mistakes. Physicians Billing Errors and Omissions will provide coverage for legal and audit reimbursement as well as the cost of civil damages and penalties which can be as high as $10,000 per error
Business Overhead Expense
You or a partner is disabled due to injury or sickness, How will the practice continue to pay expenses with a reduction in income ? What financial obligation is owed to the disabled physician? A Business Overhead policy will bridge the gap for a one or two year period to help pay ongoing expenses like; Employee salaries, taxes, benefits; Lease/Mortgage payments on rent and equipment; Utilities; Offices supplies
An illegal breach of your secure network, a stolen laptop computer, a lost thumb drive, or an employee error, all pose real life problems for medical practices. A Cyber Liability policy will provide coverage for security breaches, patient notification, data recovery, and privacy regulations found in HIPAA, Gramm-Leach-Bliley, and HITECH
For more information regarding our medical malpractice programs, please contact:
John Herlihy, CIC, Director, Medical Malpractice Division