Business owner’s policy
A BOP bundles several business coverages into one policy, which is usually both cheaper and simpler than assembling them separately.
Business insurance
The coverage a practice needs, priced properly
Cost-effective policies with the right amount of coverage for the risks that come with running a practice, not just treating patients in one.
Careful is not the same as covered
However well you run the practice, some risk is structural. Property damage, a legal claim, a data breach, a staffing dispute — none of it is a reflection on your clinical work, and all of it lands on the business.
This is business coverage, separate from your malpractice policy. It protects the entity, the premises, the equipment, and you as an employer.
Where most practices start
General liability
Protects the practice and its assets against claims of negligence, bodily injury, property damage, libel, and slander.
Workers’ compensation
Required in most states. Covers medical bills, rehabilitation, and lost wages when someone is injured on the job.
And what gets added on top
Every practice is different. A BOP and workers’ compensation are a starting point, not a finished program.
- 01
Business income — replaces lost income when covered property damage stops you operating.
- 02
Business property — your owned or leased space, plus the equipment and instruments you run on.
- 03
Commercial auto — for any vehicle used for practice business, including a staff member’s errand run.
- 04
Commercial flood — flooding from hurricanes, rain, snow melt, or construction runoff, which standard property coverage excludes.
- 05
Commercial umbrella — raises your liability limits when a claim exceeds the core policies.
- 06
Data breach — cyber coverage for the expense of a breach or attack.
- 07
EPLI — defense and damages on employment-related claims, which is the exposure most practice owners underestimate.
- 08
Inland marine — portable and mobile equipment, and anything of value in transit between sites.
- 09
Management liability — protects the practice and its leadership from losses arising out of how the organization is run.
- 10
Professional liability — covers a finding of negligence in professional services rendered, even where no mistake was made.
Questions practices ask
Business insurance, in plain answers
- Is this the same as my malpractice insurance?
- No. This is business coverage, separate from your malpractice policy. It protects the entity, the premises, the equipment, and you as an employer.
- Where does a practice usually start?
- A business owner’s policy, which bundles several coverages into one, plus general liability and workers’ compensation, which most states require. Then you add what your practice actually needs on top.
- What coverage do practice owners most often underestimate?
- Employment practices liability insurance, which covers defense and damages on employment-related claims, and cyber coverage for the expense of a data breach.
More on the questions page.
Talk it through with the person who built it
Thirty minutes, no slide deck. Bring your headcount and whatever is costing your practice the most time.