insurance for hospitals

why do hospitals need insurance?

Every medical facility should have general liability insurance coverage

Westwood specializes in advising hospitals on the best insurance coverage they can have to protect them from claims in today’s challenging environment.

Quick Quote Insurance for Hospitals


Hospitals face a wide array of challenges that necessitate the need for comprehensive malpractice or liability insurance. Here are some of the primary challenges and vulnerabilities that contribute to the need for such insurance:

  1. Medical Errors and Negligence: Hospitals are at risk of being sued for medical malpractice when patients are harmed due to errors, negligence, or omissions by medical staff. This can include surgical errors, misdiagnosis, delayed diagnosis, medication errors, and failure to monitor the patient’s condition properly.
  2. Inadequate Informed Consent: Patients must be adequately informed about the risks and benefits of procedures or treatments. Failure to obtain proper informed consent before a procedure can lead to legal action if the patient suffers an adverse outcome they were not adequately warned about.
  3. Hospital-Acquired Infections (HAIs): If a patient acquires an infection while in the hospital that could have been prevented through proper sanitation and infection control practices, the hospital may be held liable for the resulting complications or deaths.
  4. Issues with Staff Competence and Training: Hospitals must ensure that all medical staff, including doctors, nurses, and support personnel, are properly credentialed, trained, and competent to perform their duties. Inadequate training or staffing issues that lead to patient harm can result in lawsuits.
  5. Equipment Failure and Safety Issues: Malfunctioning medical equipment or failures in maintaining a safe environment for patients (such as preventable falls) can lead to injuries for which the hospital is held responsible.
  6. Privacy Breaches and Confidentiality Issues: Hospitals handle vast amounts of sensitive patient information. Breaches of confidentiality or violations of privacy laws, such as those outlined in the Health Insurance Portability and Accountability Act (HIPAA) in the United States, can result in significant legal penalties and lawsuits.
  7. Failure to Follow Up or Coordinate Care: Hospitals are responsible for coordinating a patient’s care, including follow-up appointments, referrals to specialists, and communicating with primary care providers. Failures in this area can lead to claims if a patient’s condition worsens due to a lack of appropriate follow-up care.

A hospital team needs to be covered by malpractice insuranceTo address these vulnerabilities, Westwood Insurance Group will help you with a package that includes malpractice and liability insurance to cover the costs associated with defending against lawsuits, settlements, and any court-awarded damages. We work with a large number of  insurance carriers to bring you the most suitable coverage at the best price.

what types of insurance do you need?

General Liability Insurance

General Liability Insurance

General Liability covers medical expenses and attorney fees which result from bodily injuries and property damage that your facility or organization could be legally responsible for.

Professional Liability Insurance

Professional Liability Insurance

Also known as malpractice insurance, this  protects facilities against claims related to malpractice, negligence, or injury resulting from resident care. Staff members will typically be covered by professional liability insurance.

Sexual Abuse and Molestation Insurance

Sexual Abuse and Molestation Insurance

Provides coverage for your independent living organization against claims arising from alleged sexual misconduct or molestation by an employee or other representative of your organization. Essential for the senior living industry.

Commercial Property Insurance

Commercial Property Insurance

This protects your facility against damage or loss to your buildings, equipment, and other property, which can happen as the result of various risks such as fire, theft, or vandalism.

Workers Compensation Insurance

Workers Compensation Insurance

Workers Compensation Insurance is usually mandated by law, to protect hospitals and their employees in case of work-related injuries or illnesses.

Cyber Liability Insurance

Cyber Liability Insurance

Covers your organization against financial losses associated with data breaches, cyber attacks, and other cyber incidents. Insurers will usually conduct rigorous testing of your online systems as part of this policy package.

Contact Michael Richards now

Michael Richards, President, Westwood Insurance Group

Michael specializes in insurance for this particular group. You can call him or one of the team on the number below or fill out the form and he will get your message directly:

we've got you covered

General Liability Insurance

Protecting healthcare organizations against increasingly crippling litigation.

Professional Liability Insurance

Protecting medical professionals against increasingly crippling litigation.

Medical Malpractice Insurance

Protecting medical professionals against increasingly crippling litigation.

Cyber Liability Insurance

Protecting healthcare organizations & professionals against cyber attacks.

please feel free to contact us 24/7

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Phone

216.539.0841
855.351.7487

insurance for hospitals

Hospital Insurance typically covers all or part of the potential liability for hospital services. It includes medical malpractice, accidents involving hospital employees and equipment, care during surgery or any other invasive treatment, after-hours care arrangements by staff who need help with their children and more.

insurance for long term care facilities

Long term care facilities must protect themselves against potential liability arising from incidents within their facility. Westwood can help you negotiate a package tailored to your long term care facility client.

traditional insurance products

Westwood have fostered exceptional relationships with underwriters and we go to great lengths to keep abreast of their latest products, changes in requirements and restrictions, including having weekly calls with the carriers, which you can see here, by joining our insurance insider group.

    Insurance products at Westwood Insurance Group

    You can find more information on the Insurance Products main page.

    If you have any questions on the different policies, check out our Insurance FAQ’s

    alternative structures

    Westwood President, Michael Richards has extensive experience in setting up alternative structures for larger clients. Here are some examples:

     

    If you think your client could be large and stable enough to benefit from starting or participating in a captive or has a special need for another alternative structure, contact Michael Richards now by phone: 855 351 7487.