Physical therapist professional liability insurance, also known as physical therapy malpractice insurance, provides PT providers with protection from patients or coworkers who claim their negligence at work caused an injury. This could be a wrong diagnosis, a sexual assault claim, an infraction of HIPAA privacy laws, or any claims of negligence. While many employers may offer coverage against malpractice related claims, the interests of the employee are viewed as secondary.
With individual PT liability insurance coverage, the monetary coverage and policy benefits are guaranteed for the policy owner’s sole use. Physical therapy malpractice insurance protects you from litigation expenses, as well as gives you a team of industry experts that fight for your personal assets, professional credentials, and financial future.
It is recommended that PTs have their own physical therapy professional insurance policy that puts their personal interests first. If a PT depends solely on their employer’s insurance policy, their interest will likely be viewed as secondary to the employer, clinic, or office that owns the policy. The employer’s shared PT clinic liability insurance policy may also have inadequate coverage limits should a claim be made against multiple employees, or the entire clinic. That means that other policy holders could use a significant portion of the coverage which leaves little for additional employees, enhancing the risk of personal losses. An individual physical therapy malpractice policy is the best way for PTs to protect their career. Having your own physical therapist liability insurance policy means having a team that is focused on YOUR personal interests, not your employers, co-workers or anyone else involved. Plus, it follows you wherever you go; whereas an employer’s policy will only cover you during working hours and on employment premises.
What benefits does an individual physical therapy malpractice insurance policy with CM&F offer compared to other physical therapist insurance providers?
Not all physical therapy insurance plans are created equal. CM&F has created a tailored physical therapist insurance policy to meet the specific needs of PT providers, offering peace of mind as they perform their everyday responsibilities. CM&F’s dedication to innovating the insurance marketplace with an automated quoting engine and advanced technology makes it possible to keep the physical therapy malpractice insurance cost affordable, all while underwriting the most comprehensive policies in the market. In as little as 5 minutes, CM&F’s PT liability insurance quote engine can provide any PT with a quote, and option to purchase coverage that is effective immediately (or on a later date, as far in advance as 90 days, if selected).
What types of PT malpractice insurance policies does CM&F offer?
There are two types of basic malpractice insurance policy options: Occurrence and Claims-Made. CM&F offers occurrence malpractice insurance for PTs, in addition to claims-made policies. An occurrence policy means that if a claim is made against a physical therapist regarding a past incident that occurred during a time they were previously covered under CM&F liability insurance, that claim will be covered by CM&F even if the physical therapist has since ended their liability coverage. Since most malpractice claims are made 18-24 months after an incident occurs, this type of protection is very important. Claims-made insurance policies only protect professionals if they have insurance at the time of the claim. With occurrence policy insurance, there is no need for physical therapists to renew or buy tail coverage should they choose to leave CM&F or retire.
CM&F physical therapy malpractice insurance for PT professionals is portable, which means as the physical therapist moves, so does the coverage. CM&F’s malpractice insurance is attached to the individual PT, not their place of work. Not having your own, portable coverage separate from your employer’s shared policy limits your protection to duties performed for that sole practice. For physical therapists who moonlight, work at multiple places, or have private clients, a portable malpractice insurance plan is a must – and with CM&F, only one policy is required to cover the individual at any amount of workplaces.
CM&F was founded over a century ago. Through up and down markets, CM&F’s dedication to physical therapists has never wavered. CM&F remains committed to making it easy and cost-effective to secure vital professional coverage with: