Physiotherapists perform a wide range of services in the course of their practice. Consequently, they are exposed to a lot of risks, including therapy negligence, counseling negligence, incorrect treatment advice, and failure to develop astute programs for their patients among other risks.
Although the public view them as perfectionists and trust their advices and treatment procedures that they recommend, they too can make mistakes. Being protected is, therefore, pertinent—and this is where professional indemnity (PI) insurance comes in.
What PI policy covers
Basically, PI protects you against any claim of negligence, error/omission or incorrect treatment that could be filed against you by your clients. Like any health care professional, a moment you provide an advice, treatment, training, instructions, and other related services to your clients and they suffer any loss as a result, they may file a legal claim against you. PI insurance protects your assets by catering for all the costs associated with legal defense and any potential damages that may be awarded. Besides legal liabilities, PI also protect your reputation considering that many Canadian PI policies cater for the costs associated with hiring public relations consultant in case you want to repair damaged reputation by litigation.
Getting The Right PI insurance
Like any insurance cover out there, it pays to read and understand all the policy documents of the insurance company you plan to partner with as PI products in Canada provide varying levels of cover. Additionally, different insurance firms will use different terminologies and approaches in paying for claims. Put simply, endeavor to get the right PI insurance at the right firm and with the right level/type of cover. This will go a long way in helping you reduce the hassle of following up on your policy in case you experience any problem.
As physiotherapist, you invest a lot of energy and time in helping your clients overcome their pain and injuries, but any potential losses that results from accidents, errors, or negligence from your business can cost you in a big way. In fact, irrespective of the number of years that you have been practicing or how big or small your physiotherapy business is, it’s vital to understand that people are prone to mistakes, and without a PI cover, your financial position could be detrimentally impacted if a legal claim is brought against you. So you cannot afford to be unprotected. What’s more, in the physiotherapy industry, reputation is everything—and one of the best ways of protecting it is via a professional indemnity cover that takes care of any potential legal liability that may crop up in the course of your professional duty. If you visit Bramalea Chiropractic, you can find more resources for a better understanding.