08 Sep What is Medical Indemnity Insurance and Does my Business Need it?

When setting up your own business it can be a minefield of making sure that you have done the correct paperwork, have the correct licenses and have the financial side running smoothly, as well of course of sorting out the dreaded insurance!

One type of insurance that many people are not aware of yet is needed by a range of businesses is Medical Indemnity Insurance like this https://www.mprs-uk.com/products/general-practice/medical-indemnity-insurance/ of course if you are running a small one person book-keeping business it is not going to be something that you need but here are some of the businesses that are required to have it:

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Medical Staffing Agencies

Individual doctors

Cosmetic Beauticians

Holistic and complementary medicine providers (for example acupuncturists)

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There are more of course but just to give you an idea of the range of places that need to have it. It is very important for businesses as it can help you when or if something goes wrong. If someone makes a claim against you, such as failing to diagnose something, or an error in treatment then this is where it is necessary.

As well as being a way to protect you this is also a way to protect your patients, just in case things don’t go according to plan. Of course, nobody wants to think of this but from time to time things can and do go wrong so having this insurance in place really is essential.