When it comes to your business, it may be overwhelming to evaluate the various areas that can put you at risk for an accident or lawsuit. It is important to consider how a fire or flood could impact equipment, property, and files, or how financially damaging it can be for a delivery person to get injured on your property.
While there are several mitigation strategies to implement to reduce your risk, the best protection to consider is a Business Owner’s Policy (BOP), which combines a wide range of liability and property/casualty coverage into a single package. Although these policies may be purchased or customized as individual policies, it is generally easier and less expensive to purchase them together.
A good BOP:
- Repairs or replaces damaged buildings, equipment, or other business property.
- Reimburses lost income or costs if the practice closes following a loss to property.
- Covers the cost of replacing or restoring damaged records or files due to a property loss.
- Pays for medical costs of individuals other than employees who are injured at your practice.
- Provides insurance against alleged claims of injury or damage caused by physicians or their employees (not from malpractice), including cost of legal defense and settlements.
Now is the time to think about your risk mitigation plan and how you can protect yourself and your practice from fires, floods, injury, or other liabilities that can cause significant financial and business loss.
Practice closure, costly injury-related medical bills, court and legal fees, inventory replacement for damaged goods, and equipment repair or replacement are just some of the challenges you may face because of a business-related accident or lawsuit.
Get a Quote Now for a Business Owner’s Policy!
If you do not already have a BOP, now is the time to explore options available to you through Symphony Health, CAP’s preferred partner for your personal and business insurance needs outside of medical malpractice coverage.
Call 800-819-0061 or email HealthCareServices@SymphonyRisk.com
A BOP Through Symphony Health Includes FREE Cutting-Edge Smart Water Sensor Technology
When you secure a BOP specifically with The Hanover Insurance Group through Symphony Health, you also receive water sensor technology—with hardware and software provided at no cost—that sends you real-time alerts to prevent costly water damage.
How Does the Program Work?
The Hanover Insurance Group's Smart Sensor program provides sensor equipment that sends you real-time alerts. With the program, your practice will receive easy-to-install sensor devices that will automatically monitor your property 24/7 and alert you via text message or phone call if there are any system issues, such as water leaks, temperature changes, mold detection, and more. With this valuable risk management offering, you’ll receive:
- Real-time monitoring of your building and equipment—If an issue occurs after hours
or on the weekend, you’ll receive an alert immediately to your phone or email. - 24/7 professional support—You will have access to the monitoring and support center
any time of day. - Easy installation—The sensors only take a few minutes to install, and there is a team
of professionals to help walk you through the process.
Contact Symphony Health to get started!
Call 800-819-0061 or email HealthCareServices@SymphonyRisk.com