Liability Insurance Terms To Know for Home Health Care Providers
Home health care liability insurance 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 options for home health care aide or home health care agency liability insurance.
Glossary of Common Terms You’ll Find in Home Health Care Provider Liability Insurance Policies
Assault Upon You – covers expenses which home health care providers 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
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Assets – a resource with economic value, whether that be completely monetary, or a material resource
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Biomedical Defense – coverage that protects against claims alleging bodily injury or damage arising from biomedical waste
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Damages Incurred – charges or punishment that a home health care aide or agency is obligated to pay as a result of a malpractice dispute before malpractice insurance benefits are paid out
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Deductibles – the amount of money a home health care aide or agency must pay before the insurance company will finance a claim
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Deposition Fee Coverage – financial assistance for fees that result from a deposition that the insured caregiver is required to attend
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Employment Practices Liability – a type of liability insurance that covers wrongful acts arising from the employment process, including wrongful termination, discrimination, sexual harassment, and retaliation
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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
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First Aid Coverage – financial help to insured home health care 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
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Good Samaritan Coverage – protects an insured off-duty home health care provider from liability claims if an injury or accident occurs from offering help in an emergency situation
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HIPAA Defense – covers expenses that result from HIPAA infractions
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Home Health Care Insurance Policy – a contract between an insurer and a home health care provider who purchased insurance that details what the insurer is legally obligated to pay if an incident were to arise
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Home Health Care Professional Liability Insurance – provides home health care professionals with financial and legal protection from injuries and damages to patients and or property
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Home Health Care Malpractice Insurance – used interchangeably with home health care liability insurance, malpractice insurance for home health care providers is designed to protect professionals and agencies from claims of negligence or improper treatment
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Incident – an event or occurrence that spurred a liability or medical malpractice claim
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Insurance Claim – a request for benefit compensation as a result of a covered incident
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Liable – legal responsibility for an action
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License Defense Coverage – assists insured home health care providers with expenses incurred from protecting their professional license due to an investigation or proceeding originating from a malpractice claim
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Loss of Earnings Coverage – provides assistance for lost wages, costs, and expenses due to an insured caregiver’s required attendance at a trial, hearing, or arbitration proceeding as a defendant
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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 a home health care provider
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Premium – monthly or annual payment amount home caregivers pay for malpractice insurance
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Risk Management – the process of mitigating the chances of something going wrong
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Sexual Misconduct Coverage – provides indemnity to insured home health care aides or caregivers for improper sexual misconduct claims including assault, harassment, defamation, or improper handling of misconduct allegations
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Workplace/Premises Liability – protects landowners and tenants when someone gets hurt on their property due to dangerous conditions
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