The ABCs of HME Liability

Posted on: April 16th, 2013 by SRSblogger

When it comes to a topic such as liability policies and how they affect HME providers, things can become complicated rather quickly. That’s why Southern Risk Services has come up with an easy way for you to approach this topic with the ABCs of HME Liability.

liability insurance

How protected are you? If you don’t know, liability insurance needs to be high on your list of priorities.

Assuming your general liability policy provides sufficient coverage isn’t adequate. You must know exactly how you are covered.

Better to be safe than sorry. You don’t want to think about the worst that can happen, but having the right policies in place protects you in case they do.

Contractual liability extends to any liability you may assume by entering into a variety of contracts.

Damage, as in the kind done to a customer’s property by your employees. Without property damage coverage, you could be on the hook for hundreds in repairs.

Employers, like yourself and other owners of HME businesses, should have workers compensation in place. It’s the right thing to do.

Fire and flood damage can also be covered under certain general liability policies.

General liability policies can be comprehensive, but it’s up to you to know exactly what is covered.

Hazardous activities: if your employees engage in them as part of their job, workers comp is a must. 

Injuries, whether sustained by your employees or by a patient from using a product you provided to them, are grounds for a lawsuit.

Just do it already. Every day you go uninsured is another day that could ruin you and your company.

Kinds of protection most HMEs need: bodily injury, property damage, products-completed operations, products liability, contractual liability and others found here.

Losses are what your general liability pays for real or alleged bodily injury, property damage or personal injury.

Monetary losses are a definite possibility when facing a lawsuit and not having the proper insurance.

Non-owned vehicles such as aircraft or watercraft may also be a covered by general liability.

Operations liability protects you in the event that a service you provide a patient results in injury.

Products liability is essential to cover you from any injuries incurred as a result of an HME/DME product that you provided malfunctioning or breaking.

Questions about your policies and how we can help can be directed to any of our helpful employees found here.

Risks: they aren’t worth taking. We can help evaluate your HME company and see where it is weakest.

Sued, as in what you don’t want to be. An estimated 90 percent of companies in the United States are engaged in at least one court litigation.

Today is the best day to call Southern Risk Services about your general liability policy.

Unique liability coverage can be put in to your general liability based on certain aspects of your business.

Varied insurance policies may be the best solution for your HME business, so don’t be afraid to ask. 

Workers compensation protects you from lawsuits, as well as gives your employees access to funds to pay for medical expenses in the event of an on-the-job injury.

Explosion damage is another thing that may be covered under your general liability.

“You never need insurance until you need insurance.”

Zero: the number of chances you can take of not having your HME business insured. The best defense is to be covered, so call Southern Risk Services today!

Sincerely,

BlogSignature

 

Terry Young, President

Call Now 256-442-3443 or Toll Free 877-222-UROK (8765)

For a FREE, No Obligation Phone Quote

Compliments of Terry Young, Southern Risk Services

3224 Rainbow Drive, Suite 2, Rainbow City, AL 35906

Phone: 256-442-3443 Fax: 256-442-9546

ty@southernriskservices

2236 Cahaba Valley Drive, Birmingham AL 35242

BlogFooter

Is Litigation Inevitable? Not with the Right Coverage

Posted on: April 16th, 2013 by SRSblogger

We’ve all heard of the number of ridiculous and outlandish lawsuits that are filed every day here in the United States: a 13-year old Little Leaguer was sued by a spectator for being hit by a baseball, a Michgan woman filed a $5 million lawsuit for the gas still in her repossessed car and a Colorado man won $7 million dollars blaming his illness on inhaling microwave popcorn fumes.

insurance litigation lawsuit

It’s estimated that 90 percent of all U.S. companies are engaged in at least one piece of litigation.

While silly, in reality these lawsuits are outliers when compared to the litigation that occurs every day between businesses and other businesses or customers. It is estimated that 40 million lawsuits are filed every year in the United States, and while some of them are frivolous suits like those mentioned above, a good number of them deal with liability issues, specifically when it comes to those in industries relating to medicine and healthcare.

Think about how susceptible you are as a medical practice, HME provider, dental practice or other health care provider: people trust you with their health, and if they feel like they aren’t improving, they can, and many times will find a way to bring a lawsuit. Your employees, your services, your products and almost all other aspects of your medical practice or business have to be covered to protect you against lawsuits. 

Your best defense is to be covered. You can have the safest equipment and the most careful and most trained employees in the world, but everyone makes mistakes. Therefore, you should look into your current:

  • General liability
  • Product liability
  • Bodily injury and products completed-operations liability
  • Contractual liability

Of course there are others, but these types of liability are critical for medical practices and businesses. There is the possibility, though slim, that you will never have to rely on these policies. However, the peace of mind that comes from a having them is invaluable.

To get on the right path to coverage, contact Southern Risk Services today. Our experienced staff members can help you find the policies that work best for your medical practice or business and keep you protected for the future.

Sincerely,

BlogSignature

 

Terry Young, President

Call Now 256-442-3443 or Toll Free 877-222-UROK (8765)

For a FREE, No Obligation Phone Quote

Compliments of Terry Young, Southern Risk Services

3224 Rainbow Drive, Suite 2, Rainbow City, AL 35906

Phone: 256-442-3443 Fax: 256-442-9546

ty@southernriskservices

2236 Cahaba Valley Drive, Birmingham AL 35242

BlogFooter