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Liability Insurance for Nursing Homes Mitigates Risk



Liability Insurance for Nursing Homes Mitigates Risk - Nursing homes that provide care to patients on a long-term basis should have a reliable liability insurance program in place. Because of their often-frail nature, there is the added chance patients could be injured from simple activities that most able-bodied people would have no problem with. Insurance coverage to protect the building and property is also essential in case of fire, flooding, vandalism, natural disaster, etc, and malpractice insurance is required to protect the financial assets of the nursing home against possible lawsuits due to faulty care by its employees. Having a professional liability insurance that is comprehensive enough to cover every aspect of this business is vital and of the utmost importance.

Because we have to face the fact that mistakes are inevitable and, unfortunately, when they are costly, someone will likely be held accountable (even the best clinicians can make errors). The concern for litigation should outweigh any concerns about cost, which is why all nursing homes should invest in some type of professional liability insurance for nursing homes. Any decision against carrying this relatively inexpensive coverage may become a very costly one.

Insurance protects against unforeseen circumstances

Most nursing homes are professional institutions that provide high quality care for their patients. However, situations may arise in which accidents happen or complicated medical problems arise which family members attribute to faulty care by the nursing home's staff. These are the types of unfortunate situations that may result in lawsuits against a nursing home.

The importance of providing coverage is crucial to the existence of any facility. The good thing about having nursing home insurance is that it shows that the facility has the wherewithal to counteract the costs of lawsuits and possible damages to patients and their families.

Providing adequate training reduces errors

One way to avoid acts of negligence is by ensuring all employees receive adequate training and demonstrate a high sense of responsibility to their work, but should injuries or death occur due to carelessness on the part of a staff member, the business can still be saved through having the proper insurance coverage.

Most insurance companies will want to know as many details about the nursing home facility as possible; number of employees, size of the facility, number of patients, quantity of rooms, type of care being offered to patients, employee experience and expertise, etc. This information should be kept on file and constantly updated. Being properly prepared with accurate information about the facility will make it easier and faster to process the liability insurance for nursing homes policy.

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