Positive Outlook - Issue 6.0 - May 2014

Medical Offices and the Need For Employment Practices Liability Insurance 

What growing area of loss is affecting the medical community? The answer is employment-related claims.

These claims include losses from sexual harassment, wrongful termination, discrimination, retaliation and wage and hour issues. Not that these aren’t enough, but a medical practice is also exposed to charges of discrimination and harassment from 3rd parties, including delivery services, drug reps and patients, as well as allegations of patient molestation. The definition of discrimination no longer just means race, creed or national origin.  The definition now includes virtually all patients who walk through the door. Something as basic to the business practice as accepting only certain types of insurance may now mean that you caused a potential discrimination claim against some patients. 

Now more than ever, a medical practice needs comprehensive employment pracitces liability (EPL) coverage. Due to current economic conditions, record unemployent, practice mergers and acquisitions, social media and now complience issues with the Affordable Care Act have triggered or anticipate triggering an increase in the number of lawsuits being filed. 

Settlements out of court in employment and third party cases continue to increase and have averaged $50,000. The average defense costs for employment practices suits  is $150,000. Should that same case go to a jury trial you are looking at an average of $250,000.

Claim like these are very serious in nature and can devistate a practice, and show why medical practices should have the proper coverage in place.

Allow us to tell you about Employment Practice Liability (EPL) Insurance.It is exactly what you need to protect you from any imminent or future threat at a very affordable cost. All I need is a few minutes of your time to see if this coverage meets your needs.