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Business Owner's Policy
When you choose this policy, underwritten by The Hartford, you get some of the broadest property and liability insurance available, including built-in, value-added coverages at no additional cost, and cost-effective options tailored to best protect your healthcare practice.
- Property loss and equipment breakdown on medical equipment including MRI’s and CAT Scans.
- Insurance and services to respond to a Data Breach incident on your electronic and paper data. More information >>
- Employee Liability Practice Insurance for wrongful termination or discrimination, and sexual harassment. More information >>
- Business Income insurance covers lost income even if you are able to reschedule patient appointments. And, depending on the option selected, there is little to no paperwork necessary to document lost earnings.
Business Owner's Policy - Coverage Details
Call for a quote or apply by phone
1-800-417-8054
Monday–Friday 7AM-6PM CDT
Standard Business Property Insurance Coverages
The following are examples of the Property coverages provided as part of the Business Owner's Policy:
Equipment Breakdown
Pays to repair or replace damaged equipment that's vital to your practice, including your computer systems, phone systems, air conditioners and boilers.
This coverage also includes any medical equipment in your office (eg: MRIs, CT Scans).
Computer Fraud
Protects the practice if money, securities or other property are stolen by means of computer fraud. A "must-have" in today's high-tech environment.
Debris Removal
Pays for the removal of debris of covered property damaged by a covered cause of loss.
Example: After a fire, the cost to remove damaged roofing material if the roof is replaced.
Additional Business Property Coverage Options to Consider
Below are examples of coverage options designed to fit your practice size and type giving you increased protection, flexibility and peace of mind - at the greatest value for your dollar.
Spoilage - Perishable Medicines and Medical Supplies
Protects against damage to perishable medicines and medical supplies caused by a change in temperature or contamination by a refrigerant as a result of refrigeration or heating equipment failure.
Computers & Media Coverage
Protects your investment in computer technology by reimbursing you for:
| • | Physical loss or damage to your computer hardware; |
| • | Loss of or damage to data or computer software - including electronic patient records; |
| • | Damage caused by computer virus or denial of service attack, head crash or theft (including loss off-premises). |
Example: your computer system is infected with a virus causing the loss of electronic patient records.
Employee Dishonesty
Covers the loss of money or property if your employees commit dishonest or fraudulent acts.
Valuable Papers & Records
Protects you for costs incurred to research, replace or restore valuable papers and records used in your practice such as paper patient files.
Accounts Receivable
Protection if you are unable to collect outstanding balances as a result of lost or damaged account records from a covered cause of loss.
This coverage is important for practices carrying large receivable balances on behalf of patients waiting for insurance carrier payments.
Property in Transit
Protects your business personal property if it is lost or damaged during shipment by a carrier for hire.
Standard Business Interruption Coverage
Standard Business Interruption Coverage covers the loss of income when your business is not operational due to unexpected damage or events so you can continue to meet your financial obligations such as rent and payroll.
Business Income
Reimburses you for up to 12 months for your actual loss of business income resulting from a covered loss to property at your covered location.
Extra Expense
Covers extra expenses needed to continue your operations, such as renting temporary office space while operations are suspended.
Additional Business Interruption Coverage Options to Consider
Business Income for Interruption of Practice
Reimburses earnings up to a specified daily limit for the first 15 days of loss. During this period, no earnings documentation is required to recover income from canceled patient appointments- making the claims experience hassle-free.
After the first 15 days of loss, coverage is for the actual loss of income. A variety of optional daily limits are available; select the coverage level that's right for your practice.
Daily Limit Options
Provides additional flexibility in the calculation of business income loss at the time of a claim.
Depending on the option selected, the amount of paperwork needed to calculate lost income is reduced resulting in a straight-forward claims experience. There is no deduction for rescheduled patient appointments.
Dependent Properties
Insures against loss of income if:
| • | A major supplier suffers a covered loss to their property and cannot provide the materials you need to make your product or provide your service; |
| • | Your patients are unable to accept your products because of a covered loss to their property. |
Electronic Vandalism
| Safeguards your practice against loss of income or extra expense due to: | |
| • | Web site and internet service interruption; |
| • | Denial of service attack, designed to overload your computer and deny access to legitimate business traffic; |
| • | Web site vandalism; |
| • | Good faith advertising in the event of a covered loss. |
Forgery
Protects you against loss if others alter your checks, credit card receipts or bank drafts.
Business Income for Interruption of Practice Reimburses earnings up to a specified daily limit for the first 15 days of loss. During this period, no earnings documentation is required to recover income from canceled patient appointments- making the claims experience hassle-free.
After the first 15 days of loss, coverage is for the actual loss of income. We offer a variety of optional daily limits; select the coverage level that's right for your practice.
Daily Limit Options Provides additional flexibility in the calculation of business income loss at the time of a claim.
Depending on the option selected, the amount of paperwork needed to calculate lost income is reduced resulting in a hassle-free claims experience. There is no deduction for rescheduled patient appointments.
Dependent Properties Insures against loss of income if:
• A major supplier suffers a covered loss to their property and cannot provide the materials you need to make your product or provide your service
• Your patients are unable to accept your products because of a covered loss to their property.
Electronic Vandalism Safeguards your practice against loss of income or extra expense due to:
• Web site and internet service interruption
• Denial of service attack, designed to overload your computer and deny access to legitimate business traffic
• Web site vandalism
• Good faith advertising in the event of a covered loss
Forgery Protects you against loss if others alter your checks, credit card receipts or bank drafts.
State Availability
AK,HI
Standard Business Liability Coverage
Business Liability coverage typically protects your business from claims for damages caused by your employees, products and services. It also helps cover the cost of your defense. And it’s important to keep in mind that the type and amount of liability coverage you need may vary based on the type of business you own.
The following are examples of the Business Liability coverages provided as part of the Business Owner's policy.
Defense Costs
Pays for legal expenses to defend against liability claims, regardless of who is at fault.
Employment Practices Liability*
Protects you in sexual harassment, wrongful termination or discrimination suits.
Medical Payments
Pays medical expenses for people injured on your premises.
Premises and Operations Liability
Protects you if someone is injured on your premises and for some off-premises practice operations.
Reimbursement of Legal Expenses for Court or Review Boards**
Provides reimbursement for legal expenses if disciplinary action is brought against you before any court or state review board. Increased limits available for this coverage.
* Not available in all states
** Not available to all healthcare service providers
Additional Business Liability Coverage Options to Consider
Data Breach
| • | Delivers expense coverage to help you cope with rising breach costs, including public relations and good-faith advertising, and defense and liability expense coverage if a claim is brought against you by one of your patients who has been affected by the breach. |
| • | Supplies professional assistance to help you confidently handle a breach crisis. |
| • | Provides easy access to a secure breach preparedness web site, featuring easy-to-understand tips and guidelines you and your staff can use every day – not just when you have a claim. |
Reimbursement of Legal Expenses for Disposal of Medical Waste***
Reimbursement for legal costs incurred while defending against a claim of improper disposal of medical waste.
Example: a tenant in your office complex claims to have seen one of your staff disposing medical waste in the dumpster available for use by all tenants.
Umbrella
Provides a maximum of $10 million of liability protection over and above the policy limits of other insurance policies covering your practice such as Business Liability, Auto Liability and Workers' Compensation policies.
*** Not available in all states or to all healthcare service providers
This document contains only general descriptions of coverages which may be provided and does not include all of the features, exclusions, and conditions of the policies it describes. Certain coverages, features, and credits vary by state and may not be available to all insureds. Insurance is provided by the property and casualty insurance companies of The Hartford Financial Services Group, Inc., Hartford, CT. You should consult the actual policy language and speak with the appropriate Hartford representative if you have questions. In the event of a loss, the terms of the policy issued will determine the coverage provided. Coverages are underwritten by Hartford Fire Insurance Company and its property and casualty affiliates, Hartford Plaza, Hartford CT 06155, CA lic.# 5152.
Call for a quote or apply by phone
1-800-417-8054
Monday–Friday 7AM-6PM CDT
Call for a quote or apply by phone
1-800-417-8054
Monday–Friday 7AM-6PM CDTto learn the basics