Specialty insurance managers may have a daunting task in finding the best protection for their employees; however, a little research can go a long way in deciding what is best for workers in the medical field. Many insurance companies concentrate in one employment area, and there are companies representing specific occupations in the medical field such as home healthcare, hospice and medical staffing.
Knowing the Different Types of Insurance
Several types of insurance are available including professional liability, which protects a business from a patient’s allegations of negligence. Providing benefits for employees injured on the job is the purpose of workers’ compensation. Non-owned and hired auto coverage protects employees who use personal vehicles on the job. This is important for traveling nurses and for home healthcare workers who spend a great deal of their time on the road. Other insurance options include the following:
- Employee dishonesty coverage
- Abuse coverage
- Management liability coverage
- Regulator audit insurance coverage
Solid Research Can Help With Decision Making
When researching a company, there are a few tips to keep in mind. It’s important to find out how long a company has been in business and the specific policies it sells. Check any current polices to avoid redundant coverage. Before selecting any plan, specialty insurance managers should read the entire policy and understand the provisions. With a little groundwork, the process of selecting specialty insurance should run smoothly and should result in a decision that will offer many years of employee protection.