Health & Wellness Business Insurance

Health and wellness insurance covers expenses that occur when something unexpected or accidental happens, such as a third-party injury on your premises or damage to your business assets. Here are the coverages that contribute to your policy:

• Commercial General Liability (CGL) Insurance: CGL provides financial coverage against common liability risks that can happen in any business setting, such as a slip-and-fall accident. For example, say your yoga studio was recently refurbished, and the new flooring was more slippery than the last. If a client was to fall over, you could be liable for a potential injury. In this case, CGL insurance could cover medical costs.

• Professional Liability Insurance: This policy is very important for any wellness professional that offers professional advice that’s relied on by a client. Also known as malpractice insurance, it provides protection against claims of negligence, errors, omissions, and failure to deliver a service as promised. Say you’re a dietitian helping a client lose weight – after strictly following your plan for months, they’ve gained weight. In this case, your insurance may cover the legal costs and settlement fees.

• Commercial Property Insurance: This policy protects your location (whether you rent or own) and your business-related equipment against risks such as fire, theft, and vandalism. Suppose you rent an office for your chiropractic business, and your clinic is broken into overnight. This policy could provide financial protection to replace or repair any property that was damaged or stolen during the break-in.

• Cyber Liability Insurance: This policy covers the costs of losses that involve technology, such as the hacking of your client data. If you host virtual wellness services or you store the private health information of clients, this is particularly important coverage to have. Say client financial data are suddenly missing from your computer due to a cyber breach, this policy could cover the costs of notifying clients and credit monitoring.

• Event Liability Insurance: Whether exhibiting at or hosting a wellness expo, festival, conference or symposium, your health and wellness practice needs temporary special event liability insurance to cover claims of bodily injuries or property damages to third parties. For example, a yoga instructor may host or organize a multi-day event with yoga classes and workshops at a venue or location outside of your commercial premises. If one of your clients suffers an injury at your event, you may be liable for their medical expenses. Event liability insurance is designed to cover those costs.