Insurance for the Occupational Health profession can be a complex arrangement, and if that arrangement is incorrect, the costs can be very high.
Historically there has been a lack of understanding of brokers and insurers as to what Occupational Health professionals provide. This has resulted in Occupational Health providers finding insurance for their profession a ‘minefield’ even when the Occupational Health provider takes time to explain in detail what their work entails; it seems the message doesn’t always get through.
- Avoid over-insurance from uninformed brokers. Remind them that you are not conducting medical procedures.
- Avoid under-insurance from unconcerned brokers. Whether you are a freelance professional or running an OH provider, professional indemnity and office policies alone are unlikely to be enough.
Brett & Randall and COHPA would both strongly recommend that the correct cover is in place, but also ensure that the premium reflects the risks faced, and not based on assumptions of risks the company faces.
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