Holistic Health Practitioner Insurance

The specific coverages included in holistic therapy insurance may vary depending on the provider and policy terms. However, here are some common coverages typically found in these insurance policies, including:

• Medical Malpractice Insurance: Also known as professional liability coverage, medical malpractice insurance covers holistic health practitioners if they are sued for negligence, errors, or omissions related to their professional services. It covers legal defence costs, settlements, or judgments that may arise from claims of professional misconduct.

• Regulatory Proceedings Liability Insurance: This coverage helps pay for legal expenses associated with regulatory proceedings, such as investigations by a regulatory body or a hospital’s peer review committee.

• Commercial General Liability (CGL) insurance: CGL, or general liability insurance, provides coverage for third-party bodily injury or property damage claims within the premises of the holistic health practitioner’s practice. It protects against claims such as slips and falls, damage to a patient’s property, or injuries to clients or visitors.

• Commercial Property Insurance: Commercial property insurance covers damage and loss to a holistic health practitioner’s office or clinic and their business contents, including inventory. It’s designed to help practitioners recover quickly if their premises are damaged by fire, water damage, severe weather, theft, or vandalism. It is essential coverage to have in your policy if you own the property where your practice is located. Review your lease agreement if you rent or lease a commercial space for your practice. Your landlord may require you to carry commercial property insurance per your lease terms.

• Product Liability Insurance: If a holistic health practitioner sells or recommends products, such as dietary supplements, herbal remedies, or essential oils, product liability coverage can protect against claims from their patients arising from harm caused by those products. It covers legal defence costs and damages related to product-related injuries or damages. Product liability insurance may be included in general liability insurance. If not, you can add it to your policy.

• Cyber Liability Insurance: In today’s digital age, holistic health practitioners often store sensitive patient information electronically. Cyber liability coverage helps protect against the cost of damages arising from data breaches, privacy violations, or cyber-attacks that result in the unauthorized disclosure of patient information.

• Legal Expense Insurance: Legal expense insurance is an affordable add-on to your overall policy to help cover your legal defence costs if facing a lawsuit, including attorney fees, court costs, and settlements or judgments, up to the policy’s limits. It also provides holistic health practitioners with funds to retain an experienced lawyer to tackle issues such as employment disputes, debt recovery, statutory license challenges, and guidance to appeal a decision by the Canada Revenue Agency if you are audited.