Provide care and support as you keep your finances secured.
As a therapist, you offer not only health and well-being treatment methods but also emotional and spiritual support to improve your client’s quality of life. But even with utmost care, you are still vulnerable to risks that can escalate to liability claims leading to financial burdens.
Being prepared for any untoward incident is most vital. This can be done with reliable insurance covers to protect your practice and complementary therapy business.
No matter how long you’ve been in the natural therapy business, you’ll never know when accidents happen and clients might make claims against you. Here are the insurance policies you need:
In the performance of your daily duties, your client sues for misdirected therapy advice, this policy may provide you with cover. At a time when a client claims your therapy brought him chronic pain and sues you for compensation, a professional indemnity insurance may cover your legal costs including legal advice.
In your therapy profession, you offer therapy for the public whether in your business premises. Risks involved can be slip-and-fall incidents to third-party members of the public during or after consultation. Public liability may cover the costs of treatment and associated legal cost of this person’s claims.
Your practice may involve selling or supplying health therapy products, so you also have product liability for third party injury claim from products that you sold or supplied. With a products liability cover, this policy may cover financial setbacks of defending a claim.
Whether you are practicing therapy alone or have employees, you also are running a business. On top of your professional indemnity, you’ll need protection for your management. Here are business insurance products.
is specifically for private companies and covers claims of wrongful management, employment practices breaches (wrongful dismissal or discrimination actions), crime (theft by employees or third parties), tax audit and statutory fines and penalties.
This protects therapy businesses, covering equipment and property damage from accidents, losses due to theft, fire, glass but not limited to. You may also want to consider Business interruption, for the potential loss of income, under certain sections of the business policy.
This insurance cover is for every member or individual, as accidents and sickness do happen to business owners and contractors. This may assist your business to enable you to employ staff to cover you the business owner while you are unable to work.
If you maintain a website or a digital record of your customers’ personal information, especially online, you are at risk of a data breach. This policy covers you from data theft.
Whether you run a small or large therapy company or work as a contractor, this insurance will cover businesses for tax auditing by the ATO.
Workers’ compensation is a legal requirement for all businesses to cover their staff and contractors in the time or event of an accident.
Many professional associations and governing bodies insist on every member to get insured before they obtain membership.
Why choose Sparrow Insurance
For a professional therapist, there are few options available for coverage, and choosing could be overwhelming, but Sparrow Insurance makes obtaining insurance easy.
The unlimited retroactive cover in your policy may secure even your past activities provided there are no known and unreported circumstances that could lead to a claim.
Contact Sparrow Insurance brokers immediately.
General Advice Warning
This advice has been prepared without taking into account the client's objectives, financial situation or needs.
Because of that, before acting on the above advice, the client should consider its appropriateness (having regard to their objectives, needs and financial situation).
If the advice is related to the acquisition of an insurance contract, the client should obtain a Product Disclosure Statement relating to the product before deciding whether to acquire it.
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