insurance for IV therapy

assessing their needs

malpractice insurance for IV therapy

Westwood will work with you to ensure your IV therapy clients have the best insurance coverage for every threat they could face.

Quick Quote for Medical Malpractice Insurance

IV therapists and IV therapy centers face a myriad of challenges that commercial insurance agents should be aware of. 

  1. Regulatory Compliance
    IV therapy is a medical procedure that’s heavily regulated by federal and state laws. Compliance with these laws, such as licensing and certification requirements, is crucial to avoid legal repercussions. Commercial agents should be aware of these regulations to offer the most appropriate liability coverage.
  2. Professional Liability
    The act of inserting an IV line, mixing and administering medication, or even patient monitoring has inherent risks. Errors or omissions can lead to serious complications like infections, allergic reactions, or drug interactions, posing a risk of malpractice lawsuits
  3. Equipment and Supply Costs
    High-quality infusion pumps, catheters, and related medical supplies are expensive. Loss or damage to this equipment can significantly affect the operations of an IV therapy center.
  4. Staff Training and Retention
    Highly-skilled staff are essential for safe and effective IV therapy. However, attracting and retaining qualified professionals is challenging and can be costly. The associated costs and risks should be considered in any insurance policy.
  5. Patient Data Security
    IV therapy centers maintain electronic medical records that are subject to cyberattacks. A data breach can lead to a loss of patient trust and costly legal consequences.
  6. Property Risks
    From physical damage to the facility due to natural disasters or accidents to utility disruptions affecting refrigeration of medications, property risks are an essential consideration for IV therapy centers.
  7. Public Liability
    Patients and visitors to IV therapy centers could potentially be exposed to accidents or injuries on the premises, such as slips or falls, for which the center could be held liable.
  8. Business Interruption Risks
    Any interruption in service due to unforeseen circumstances like a natural disaster, staff illness outbreak, or cyber-attack can result in financial loss and disrupt ongoing patient treatments.

Being aware of these challenges will enable commercial insurance agents to better understand the unique needs of IV therapists and IV therapy centers, thereby offering insurance solutions that provide comprehensive coverage.

what specific insurance do they need?

For IV therapists and IV therapy centers, a range of insurance policies are necessary to address the specific challenges they face. Here is a list of types of insurance that may be applicable:

  1. Professional Liability Insurance (Malpractice Insurance)
    This is vital for covering claims related to negligence or errors in the administration of IV therapy. It can cover legal defense costs, settlements, and judgments.
  2. General Liability Insurance
    This covers basic business liabilities like injuries or property damage occurring on the premises, which could happen to patients, visitors, or staff.
  3. Workers’ Compensation Insurance
    This is essential for covering medical expenses and lost wages if employees get injured on the job. This can include risks like needlestick injuries or back injuries from lifting patients.
  4. Commercial Property Insurance
    This policy covers the physical assets of the IV therapy center, such as buildings, furniture, and medical equipment, against damage from fires, storms, vandalism, or theft.
  5. Cyber Liability Insurance
    Given that IV therapy centers likely store sensitive patient data, cyber liability insurance can protect against the financial and legal ramifications of data breaches.
  6. Equipment Breakdown Insurance
    This is important for covering the repair or replacement costs of essential medical equipment, like infusion pumps, in the event of a breakdown.
  7. Business Interruption Insurance
    This policy covers the loss of income that a business suffers after a disaster or other significant disruption. For an IV therapy center, this could be crucial if they have to halt operations temporarily.
  8. Employment Practices Liability Insurance (EPLI)
    This covers claims arising from employment-related issues like wrongful termination, discrimination, or sexual harassment, which could be relevant for larger centers with multiple employees.
  9. Directors and Officers Insurance (D&O)
    For IV therapy centers with a board of directors, D&O insurance can protect the personal assets of company directors and officers in the event they are personally sued for alleged wrongful acts while managing the company.

Understanding the specific challenges facing IV therapists and IV therapy centers will allow commercial insurance agents to recommend the most appropriate types and levels of insurance coverage. Tailoring insurance packages to meet these specific needs can provide comprehensive protection against the various risks involved.

advice for insurance agents approaching IV therapists and IV therapy centers

When approaching IV therapists and IV therapy centers, commercial insurance agents should first invest time in understanding the nuances and specific challenges of the industry. Given that IV therapy involves both complex medical procedures and specialized equipment, the potential risks are multifaceted—ranging from medical malpractice claims to cybersecurity threats. Engaging in a detailed risk assessment with the healthcare provider can offer invaluable insights into their specific needs. Remember, a one-size-fits-all policy is unlikely to provide comprehensive coverage in this specialized field.

Your approach should be consultative rather than transactional. Educate your potential clients about the types of insurance that would be most beneficial for them, like professional liability, cyber liability, and property insurance, among others. Be prepared to explain how each type of coverage can protect them from the unique risks they face in their day-to-day operations. Offer real-world scenarios that can illustrate the importance of adequate insurance coverage. Finally, emphasize the value of customized insurance solutions that are adaptable to changes in regulations and medical technologies, assuring them that they will be well-protected now and in the future. Your role isn’t just to sell a policy but to build a lasting relationship based on trust and expertise.

Contact Michael Richards now

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

Michael Richards

sourcing the right  insurance for IV therapists and IV therapy centers is essential in today’s challenging climate


General Liability Insurance

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

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Professional Liability Insurance

Professional liability insurance, also known as errors and omissions insurance (E&O) and medical malpractice insurance, protects your business against claims of negligence, malpractice, errors, and omissions which may have occurred during the fulfillment of a professional service.

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Telemedicine Malpractice Insurance

telemedicine malpractice insurance—also known as digital health insurance or eHealth insurance—has become increasingly vital for healthcare providers. to  protect them against claims of negligence, malpractice, errors, and omissions which may be the result of the limitations of webcam quality or the inability of a patient to properly photograph a condition. It can also cover cyber liability, such as remote controlled medical devices being hacked.

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Directors and Officers Liability (D&O) insurance

D&O insurance (Directors and officers liability insurance), shields the personal assets of company directors and officers, and where necessary, their spouses, from claims which could arise as a result of the decisions they made and actions they took within the scope of their regular duties.

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Cyber liability insurance

Cyber liability insurance covers the financial costs associated with a breach of your cyber security, such as a ransomware attack. It also covers first party costs including event management, data restoration, financial costs to third parties, network interruption, and cyber extortion.

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HNO Insurance

HNOA, (hired non-owned auto insurance) is designed for organizations who regularly hire vehicles or require employees to use their own vehicles in the course of their work. In the case of an accident where your employee was liable, it could cover physical damage to that other person’s vehicle, medical expenses, the cost of hiring an attorney to defend your business.

Workers’ Comp. Insurance

Workers’ compensation insurance covers your employees for workplace injuries or illness. It provides them with medical and wage benefits.

This coverage is mandated by each state, with the wage and medical benefits varying from state to state. Workers compensation also protects business owners from civil suits by workers who become injured on the job.

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Employment Practices Liability

Employment practices liability insurance (EPL insurance or EPLI), covers employers (PDF) against claims made by employees for:

  • Discrimination (based on sex, race, age or disability, for example)
  • Wrongful termination
  • Harassment
  • Failure to promote and other employment-related issues
Sexual Abuse & Molestation (SAM)

Sexual Abuse and Molestation Insurance provides coverage for organizations against claims arising from alleged sexual misconduct or molestation by an employee or other representative of the organization. 

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Environmental Liability insurance

Environmental Liability insurance is liability insurance specifically designed to protect environmental liabilities. This is a specialized form of general, commercial liability insurance that provides financial protection against litigation and clean-up costs resulting from claims of injury or damage caused by pollution, contamination or hazardous waste disposals. 

Commercial Property Insurance

Commercial property insurance is a fundamental component of risk management for healthcare and senior living providers. It is designed to protect the organization’s physical assets, such as buildings, medical equipment, furniture, and supplies, from financial losses due to damage or theft.

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Crime Insurance

Crime Insurance covers the insured party a reimbursement if their property is damaged due to a crime. Crime Insurance usually has a huge range of options and comes in different forms. It can be either a rider that can be attached to the existing insurance policy, or it is available as a completely separate product.

Commercial Auto Insurance

Commercial auto insurance is a crucial aspect of risk management for healthcare and senior living providers. It offers vital financial protection against vehicle-related incidents and is often required by law.

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Fully/Partially Funded insurance

Partially Funded insurance gives facilities the opportunity to pay a set premium for, and then in turn is  partially covered for specific risks.

Fully Funded Insurance allows facilities to pay premiums to have coverage against all risks. In return, if they are unfortunate enough to incur any of the covered loss or injury, they are reimbursed their insurance policy amount.

Excess and umbrella coverage

Excess coverage provides an additional layer of protection over and above what an underlying policy provides. It applies to a single policy only.

An umbrella policy on the other hand, provides additional liability coverage over and above what is provided by a number of underlying policies.

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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.

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    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.