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Protect and Defend

auto insurance coverage

Steer Clear of Trouble

Protect and Defend

Practice owners need adequate insurance coverage when transporting pets and when employees are on the road.

Insurance coverage and risk management remain a hot topic during the pandemic. This is the second in a two-article series highlighting the most frequently asked COVID-related questions I have received from my insurance clients. Q. What are the liability risks if my hospital offers a pet taxi service? A. You must consider two major exposures. […]

COVID coverage

COVID, insurance and your practice

Protect and Defend

Questions that few people were asking a year ago are suddenly on everybody’s mind.

As the pandemic sweeps across the United States, the delivery of veterinary services has changed dramatically. Not surprisingly, veterinarians and practice managers have raised questions about insurance coverage and risk management. This is the first of a two-article series highlighting the most frequently asked questions I have received from my insurance clients. Q. Do workers’ […]

loss control survey

You snooze, you lose

Protect and Defend

Not preparing for a risk-management survey could cost you the chance to lower your insurance premiums. Not permitting a visit might mean a policy cancellation.

Someone claiming to be from your insurance company calls to say he wants to schedule an on-site loss-control survey of your veterinary practice. Eight questions should immediately come to mind. 1. What is a loss-control survey? Loss control is a risk-management technique that seeks to reduce the possibility of a loss or lessen the severity […]

insurance premium

Premium advice

Protect and Defend

From requesting a risk inspection to raising their deductible, practice owners have numerous opportunities to reduce the cost of insurance.

Today’s hypercompetitive veterinary marketplace is filled with savvy, non-traditional competitors developing innovative methods of meeting client demands for services. No longer can veterinarians simply focus on working hard and providing quality medical care to drive revenue and financial success. The successful entrepreneurs of the future will focus on client-centered service delivery while reducing the cost […]

employee benefits

It’s for your benefit

Protect and Defend

Employee benefits liability insurance shields a practice when program administrators mishandle a situation.

Attracting and retaining high-quality employees is a challenge for many veterinary practices in today’s competitive, mobile environment. Practice owners and managers continually ask me whether I know any qualified veterinarians or veterinary nurses who are looking for work. To recruit and keep quality employees, veterinary practices offer an ever-increasing variety of ancillary benefits as part […]

directors and officers

Don’t manage without it

Protect and Defend

Directors and officers liability insurance protects a veterinary practice’s executives and leaders from themselves and their bad decisions.

Does your veterinary practice operate under a board of directors? Do you serve on the board or as an officer responsible for management decisions that have a direct financial impact on others associated with the organization? If so, directors and officers liability insurance, often referred to as D&O insurance, should be an important component of […]

builder’s risk

Building a case for a builder’s risk policy

Protect and Defend

You should purchase additional insurance coverage whenever your practice is under construction or undergoing a facelift.

Are you considering building, expanding or remodeling your veterinary hospital? Before starting any construction or renovation project, make sure you have the proper insurance coverage in place. Your property will be at risk of several exposures significantly different from those associated with an operational veterinary facility. Many of these exposures are typically not covered by […]

Extra! Extra!

Protect and Defend

A standard liability policy might not be sufficient for your practice. Consider umbrella coverage to protect against larger or multiple claims.

The number of lawsuits filed and monetary awards handed out have increased in today’s litigious society. As a result, coverage limits in standard commercial general liability policies — typically $1 million per occurrence and $2 million in annual aggregate — are often insufficient for modern veterinary practices. Your liability related to the transmission of zoonotic […]

insurance

Common knowledge

Protect and Defend

What if a client blamed you because her car was dented in your parking lot? Or if the photo you posted on your website violated copyright law? Take the time to understand liability and common conditions in commercial insurance policies.

In the June/July 2019 issue, I discussed Section I: Property of the standard commercial insurance policy. In this issue, I will review sections II and III: Liability and common policy conditions. Section II: Liability A commercial general liability policy protects the identified business against claims for bodily injury and property damage arising out of the […]

business insurance

Insure your property properly

Protect and Defend

Extensions. Deductibles. Exclusions. Not understanding the terms of your commercial policy could leave you short on coverage.

Practice owners view a commercial insurance policy the same way a veterinary textbook appears to a layperson: lots of pages, small type, indecipherable words. One can only hope that in the event of an insurance claim, appropriate coverage is found somewhere within all the verbiage. Though understanding everything in your commercial insurance policy isn’t practical, […]

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