There are many facets to running a home health care agency with the safety of your patients and employees among your top priorities. Protecting the firm’s bottom line is also critical in order to be able to continue to provide quality care to the communities you serve. This involves implementing strong risk management strategies combined with having the right mix of insurance coverages to safeguard against the many exposures a home health care agency faces – from patient falls to improper administration of medication, allegations of sexual abuse, Protected Health Information (PHI) violations, worker injuries, employment practices violations, vehicular accidents and more.
Putting together an insurance program that addresses the unique risks of home health care providers requires a specialist who understands the industry as a whole, how it operates, the services provided, and the exposures and challenges it faces. It also requires specialists with access to insurance markets that write specific programs for home health care to address and respond to potential claims and losses, and who keep their pulse on potential legislation that may result in new and emerging risks.
Local, independent insurance agents and brokers are the right fit to serve the coverage needs of home health care providers. Their independence enables them to work with more than one carrier, establish relationships with specialty markets in the home health care niche so they can customize policies to meet the specific needs of their clients, provide added-value services, such as loss control and risk management, and serve as an advocate in the event of a loss.
Independent insurance agents and brokers are also available if policy changes need to be made and explain the impact, if any, of those changes. They can negotiate pricing and policy terms and conditions on behalf of clients, and help you understand how each of your policies work – the triggers for coverage to apply, any exclusions that may exist, and your obligations in the event of a loss.
The proliferation of digital commercial lines rate-quote-policy issuance platforms may seem like the most direct route to obtain insurance, but having a professional that understands your specific needs to ensure you are getting comprehensive coverage at competitive pricing is invaluable.
Manchester Specialty Programs focuses on providing home health care providers with tailored insurance programs, working exclusively with local, independent agents and brokers. Together, we offer clients a total insurance solution to address their risks. For more information about our products, please contact us at 855.972.9399.