Insurance for Ontario Chiropractors
You help ease pain and discomfort as a chiropractor. Your profession, though, does involve a degree of risk.
You need to protect yourself as a chiropractor with the right package of chiropractor’s insurance if you’re operating in Ontario.
Ask your Western business insurance expert what chiropractor’s insurance is right for you.
We’ve got the expertise and knowledge to get you the right chiropractor’s insurance package customized to your needs, whether you’re in the Greater Toronto Area, Barrie, King City, Aurora, Kitchener, Petawawa, or anywhere in Ontario where you are a chiropractor.
What kind of insurance does my Ontario chiropractor business need?
A chiropractor insurance package will help protect you and any employees against on-the-job risks, claims, and injuries that you could face.
Ask your Western business insurance expert to go over the different types of coverages that can be included a customized chiropractors’ insurance package to protect your Ontario chiropractor business.
1. Professional Liability Insurance (Malpractice Insurance): This coverage is critical because it helps protect you financially from lawsuits involving negligence, medical errors and injuries that result in bodily injury to a patient.
Malpractice can include: Failure to attend to a patient, failure in diagnosis, referral or consultation, failure to protect or warn patients, or claims of substandard treatment.
Professional Liability Insurance can also protect you if a patient makes frivolous or nuisance claim that you caused them harm or financial loss.
The College of Chiropractors of Ontario says each member chiropractor holding a general or temporary certificate of registration must provide proof of professional liability insurance. The college says each member must have a minimum amount of $1,000,000 in coverage per claim, and a minimum total amount of $3,000,000 per year of professional liability insurance.
Whether you are responsible or not, professional liability insurance policy can protect you by covering the cost of medical bills, as well as litigation and court fees.
Let your Western business insurance expert help you get the right Ontario chiropractor insurance.
2. Commercial General Liability Insurance (CGL): This type of coverage is also known as “slip and fall insurance.” It provides protection against the risks that may occur during the day-to-day operations of your chiropractor business, including third-party property damage or bodily injuries. For example, a patient slips on a wet floor and is injured or a patient falls off your chiropractic table and breaks an arm and successfully sues you for bodily injury. CGL insurance could help cover any legal fees and medical expenses, regardless of the outcome of the lawsuit.
As a chiropractor, it wouldn’t be uncommon to get CGL insurance that covers up to $2 million in claims.
3. Cyber Insurance: You may wonder why you need cyber insurance as a chiropractor. A compelling reason for cyber insurance is that you store confidential information about your patients, and you may do virtual consultations.
If this information is hacked or breached by a malicious third party or stolen internally, it could be damaging to your chiropractor business and to your patients. Cyber insurance helps protect your business.
If a hacker successfully breached your system and stole your patients’ data and held it for ransom, cyber liability Insurance could also cover the costs to pay the ransom and any fees required to restore data.
Ask your Western insurance expert about the importance of cyber insurance to Ontario chiropractors as holders of confidential data about patients.
Does home insurance cover chiropractors working at home?
No. If you are working from home in Ontario as a chiropractor, any accidents or damages resulting from your professional work will not be covered by your home insurance.
Professional Liability Insurance and Commercial General Liability Insurance are essential to your chiropractor insurance package.
You should consider adding Commercial Property Insurance to your chiropractor insurance coverage.
How much coverage do you need?
According to the College of Chiropractors of Ontario, chiropractors must have a minimum of $1,000,000 in coverage per claim and a minimum total amount of $3,000,000 per year of Professional Liability Insurance. (See the link above.)
For Commercial General Liability Insurance, it’s recommended to have up to $2 million in coverage.
For Cyber Insurance, the number of patients and your location may play a role in how much you will pay for this type of insurance. Ask your Western insurance expert about how much coverage you would need.
Western Insurance has licensed BUSINESS INSURANCE EXPERTS to get your Ontario chiropractor business the right chiropractor insurance package suited to your needs. Our experts are available now to help you navigate the business insurance journey to protect your chiropractor business.
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