Types of Professional Acupuncturist Insurance Policies
As an acupuncturist, you can be held personally liable for a number of work-related claims. Whether it’s for medical negligence or a cyber data breach, you can be held responsible even if you are not at fault. For that reason, it is important to understand all of the acupuncture liability insurance coverage options offered through CM&F. Professional liability acupuncture insurance is a basic necessity for all active practitioners, and adding on a few coverage options below can ensure your career, assets, and future are fully protected.
What is professional acupuncture liability insurance?
Professional acupuncture liability insurance, also known as acupuncture malpractice insurance or acupuncturist insurance, protects acupuncturists from claims associated with wrongful practice resulting in bodily injury, medical expenses and/or property damage, as well as the cost of defending lawsuits related to such claims. There are two types of acupuncture insurance coverage: occurrence and claims-made policies. Occurrence policies accommodate long tail events, or situations that don’t produce lawsuits or claims right away. A claims-made policy offers coverage only when a claim is filed during a policy period. While a claims-made policy may have a lower premium than occurrence, a claims-made policy owner may need tail coverage to protect themselves from claims made after the policy expires.
Some examples of malpractice claims include:
- Failure to diagnose an existing medical condition that a reasonably competent professional is capable of diagnosing
- Improper patient care or negligent medical treatment that negatively impacted a patient
- Failure to warn a patient of all the possible risks involved with a procedure or treatment method
What is workplace liability insurance?
Workplace liability insurance protects AOM business owners from financial losses should a client or patient be injured in the workplace. The injury can be both work-related, or simply just an unfortunate accident. All of CM&F’s acupuncture group professional liability insurance policies include workplace liability coverage.
Some examples of workplace liability claims include:
- A patient comes to your office and they slip on a wet tile causing injury
What is general liability insurance?
General liability for acupuncturists covers physical risks, such as bodily injury or property damage. It differs from professional liability insurance, which is coverage for errors and omissions in provider services. General liability is available as an add-on to self-employed acupuncturist insurance policies, as well as acupuncture group liability insurance holders with CM&F.
Some examples of general liability claims include:
- A patient that suffers a slip and fall incident at a workplace
- Property damage that you or an employee is responsible for causing
What is cyber liability insurance?
Cyber liability insurance covers the cost for a business to recover from a data breach, virus, or other cyberattacks where patient PII is compromised. It also covers the legal claims that result from a patient data breach. Acupuncturist group/clinic owners should invest in a cyber liability insurance policy to protect the future of their business.
Some examples of a cyber liability claim include:
- Computer software is stolen that contains sensitive patient information. The cost to rectify the situation is covered by cyber liability insurance.
- A spyware virus compromises patient information. In turn, patients with information compromised by the virus file a lawsuit. The cost of legal fees will be covered with cyber liability insurance.
At CM&F, we believe in the importance of a lifelong relationship. We want to be a valuable provider from your first day as a holistic medicine student until the day you retire. It is our hope to serve as a partner in your career, offering help and guidance along the way.
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