Acupuncture Malpractice Insurance - Terms to Know

Acupuncture malpractice insurance policy details can be confusing, overwhelming, or may even seem unnecessary.

Below is a list of liability insurance coverage terms that you should familiarize yourself with as you research acupuncturist insurance coverage options.

Glossary of Common Terms You’ll Find in Acupuncturist Liability Insurance Policies

Acupuncturist Insurance Policy – a contract between an insurer and an acupuncturist who purchased insurance that details what the insurer is legally obligated to pay if an incident were to arise

Acupuncture Malpractice Insurance – used interchangeably with acupuncture liability insurance, malpractice insurance for acupuncturists is designed to protect professionals from claims of negligence or improper treatment

Acupuncturist Professional Liability Insurance – also known as malpractice insurance, provides acupuncturists with financial and legal protection from injuries and damages to patients and or property

Assault Upon You – covers expenses acupuncturists can incur from a bodily injury or damage to their personal property resulting from an assault while traveling to and from their place of employment

Assets – a resource with economic value, whether that be completely monetary, or a material resource

Biomedical Defense – protects against claims alleging bodily injury or damage arising from biomedical waste

Damages Incurred – charges or punishment that an acupuncturist is obligated to pay as a result of a malpractice dispute before malpractice insurance benefits are paid out

Deductibles – the amount of money an acupuncturist must pay before the insurance company will finance a claim

Deposition Fee Coverage – offers financial assistance for fees that result from a deposition that named acupuncturists are required to attend

Employment Practices Liability – is a type of liability insurance that covers wrongful acts arising from the employment process, including wrongful termination, discrimination, sexual harassment, and retaliation.

Extended Reporting Period – also known as tail coverage, extends coverage for incidents that happened during the time you had your policy, but a claim was not filed until after the policy was expired or canceled

A – E

F – M

First Aid coverage – offers financial help to acupuncture providers in the event of an emergency that requires immediate attention. Expenses can cover things such as the cost of an ambulance or emergency medical procedures.

Good Samaritan coverage – protects off duty acupuncturists who offer help in an emergency situation. They are protected from liability claims if an injury or accident occurs

HIPAA Defense – covers expenses that result from HIPAA infractions

Incident – an event or occurrence that spurred a liability or medical malpractice claim

Insurance Claim – a request for benefit compensation as a result of a covered incident

Liable – legal responsibility for an action

License Defense Coverage – assists acupuncturists with expenses incurred from protecting their professional license due to an investigation or proceeding originating with malpractice claim

Loss of Earnings – coverage provides assistance for lost wages, costs, and expenses for the named acupuncturist’s required attendance at a trial, hearing, or arbitration proceeding as a defendant

Medical Payment coverage – reimburses third parties for medical expenses incurred to treat injuries sustained arising from business activities

Negligence – the failure to exercise care that is reasonably expected of an acupuncturist

Premium – monthly or annual payment amount a named acupuncturist pays for malpractice insurance

Risk Management – the process of mitigating the chances of something going wrong

Sexual Misconduct Coverage – provides indemnity to acupuncturists for improper sexual misconduct claims including assault, harassment, defamation, or improper handling of misconduct allegations

Workplace/Premises Liability – protects landowners and tenants when someone gets hurt on their property due to dangerous conditions

N – Z

Do You Need Acupuncture Malpractice Insurance?

Owning an individual acupuncture malpractice insurance policy in your own name is advised. When an individual carries their own acupuncture insurance coverage, they are minimizing risk to their personal assets or reputation. Before opting out of an individual malpractice insurance policy, make sure you know exactly what your employer’s liability policy covers and what your legal obligations are should you have to utilize the malpractice coverage under your employer’s policy.

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