Understanding Included Coverages and Why They Matter

For chiropractors, having a clear grasp of what your malpractice insurance policy covers, including supplemental included coverages, is important. As a whole, malpractice coverage plays an essential role in safeguarding your practice and your professional reputation. 

In this article, we will explore the included coverages often found in a chiropractic malpractice insurance policy. We will also explain when these coverages might be important for your practice.

What is chiropractic malpractice insurance?

The nature of chiropractic work involves manipulating and adjusting the spine and other parts of the musculoskeletal system. In healthcare, there is always a risk that a patient could get hurt or be dissatisfied. This can sometimes lead to a legal claim.

Chiropractic malpractice insurance coverage is a specialized form of professional liability insurance designed to protect chiropractors from claims of negligence or malpractice. It pays for legal fees, settlements, and potential damages that you might have to pay due to a claim.

When it comes to malpractice insurance for chiropractors, there are two main coverage options: Occurrence and Claims-made.

• A Claims-made policy provides coverage for claims that are made during the active policy period (typically one year), regardless of when the incident occurred. For example, if a patient alleges malpractice from an incident that occurred years ago but brings the claim this year, your current year’s policy will respond. If your policy ends, you’ll need to purchase a new policy or secure tail coverage to ensure protection for claims made after the policy’s expiration.

• An Occurrence policy covers incidents that occur during the policy period, even if the claim is made after the period ends. Occurrence coverage doesn’t end when the policy ends. If someone brings a claim against you, your Occurrence policy from the year of the incident will cover you. When you renew your policy each year, you have a new set of limits to protect you from any future claims that result from incidents occurring that year.

Check out this article to learn how to choose the right policy type for your chiropractic career.

Key included coverages in a malpractice policy

Understanding your malpractice insurance policy is the first step in knowing what is covered and what is not. Read this article to learn about the different parts of a malpractice policy. 

The coverages listed below can protect you and your practice from additional risks. This way, you can focus on providing the best care to your patients without worrying about legal issues. Each coverage element has a role to play in mitigating risks associated with malpractice claims.

• Pure consent to settle clause

Pure consent to settle is a provision in malpractice insurance policies that requires an insurance carrier to obtain the insured chiropractor’s consent before settling any claim or lawsuit. This clause is crucial because it ensures that you have more control during a claim.

To learn more about pure consent, read this article.

• Privacy and Cyber Liability Coverage

In today’s digital landscape, protecting patient information has never been more important. That’s where this coverage comes in. What is cyber liability coverage? 

It helps chiropractors navigate data breaches and cyberattacks. This coverage can help cover legal fees, notification costs, and potential settlements related to privacy violations.

• Loss of Earnings while Participating in your Defense of a Suit

This coverage compensates chiropractors for lost income when they must participate in legal proceedings related to a malpractice claim. If you have to leave your practice for court hearings or depositions, this coverage can help reduce the financial impact on your practice.

• Peer Review

Peer review coverage offers protection for chiropractors who are being examined by their colleagues about their professional behavior or treatment techniques. This coverage can help cover the costs associated with defending against peer review actions, ensuring that your professional reputation is upheld and that you have the necessary support during the review process.

• Administrative Hearing Coverage

This coverage is essential for chiropractors who may face administrative hearings related to their practice. It covers legal expenses incurred during hearings before licensing boards or regulatory agencies, ensuring that you have the resources to defend your license and practice rights effectively.

• Erroneous Billing Coverage

Erroneous billing coverage protects chiropractors from claims related to billing errors, including those involving Medicare, Medicaid, and other payors. This coverage can help cover legal fees and potential penalties arising from billing disputes or allegations of fraud.

• Sexual Misconduct Defense

This coverage provides defense against claims of sexual misconduct. It covers legal defense costs to help safeguard your professional reputation and financial stability in the face of serious accusations.

• HIPAA Proceeding Defense

HIPAA proceeding defense coverage protects chiropractors from legal actions arising from violations of the Health Insurance Portability and Accountability Act (HIPAA). It covers legal fees and penalties associated with HIPAA investigations, helping your practice remain compliant with privacy regulations and ensuring you have the necessary support in case of a breach.

Why included coverages matter

Each element of your malpractice coverage plays a significant role in safeguarding different aspects of your practice. Here’s why these coverages matter:

• Financial protection

Malpractice claims can be financially devastating. The costs associated with legal defense, settlements, or judgments can quickly add up. With comprehensive malpractice insurance, you can be financially protected, even for more uncommon scenarios, allowing you to focus on your practice rather than worrying about potential claims or lawsuits.

• Peace of mind

Knowing your complete coverage picture provides peace of mind. You can confidently carry out your duties, knowing that your insurance policy will protect you if something goes wrong.

• Professional reputation

The situations in which these included coverages are of use can tarnish your professional reputation. Having insurance that covers both common and less common scenarios can help you better manage and mitigate any damage to your reputation.

Understanding the included coverages in a malpractice policy and their limits ensures that chiropractors are adequately protected against a wide range of potential claims, from minor billing errors to serious allegations of misconduct. By looking at these factors closely, chiropractors can make sure their policy fits their specific practice needs.

Our included coverages make all the difference

Chiropractic malpractice insurance is an essential investment for any practicing chiropractor, but not all malpractice insurance is made equal. 

With ChiroPreferred, chiropractors can practice with peace of mind knowing they have strong malpractice protection from our underwriting carrier, MedPro Group – including all the useful supplemental coverages mentioned in this article. Click here to see how we stack up against the competition.

Not already insured with us? Start a quote to get your peace of mind today.