Hospice insurance includes several important coverages, each one critical to successful operation. Click on the bold text below for more information about the different types of hospice insurance coverage.
Hospice professional liability insurance is a very important type of hospice insurance coverage. Hospice professional liability insurance pays on behalf of the hospice for money damages the hospice becomes legally obligated to pay because of injury caused by a “medical incident.” (The term “medical incident” is defined in the GHP program professional/general liability policy.)
Hospice general liability insurance is another important coverage. Hospice general liability insurance pays on behalf of the hospice for money damages that the hospice becomes legally obligated to pay because of bodily injury or property damage caused by the hospice that does not involve a medical incident.
Hospice auto insurance is a two-part coverage. The first part of hospice auto insurance covers physical damage to automobiles. The second covers liability for bodily injury or property damage caused by the operation of automobiles. Hospices that own automobiles should purchase a commercial auto insurance policy. Hospices that don’t own automobiles can purchase coverage they need for liability for the operation of automobiles they don’t own which are operated on their behalf by employees and volunteers. This hospice non-owned auto liability insurance can be added by endorsement to the hospice general liability insurance.
Hospice excess liability insurance is an extra coverage that many hospices purchase. Hospice excess liability insurance pays on behalf of the hospice for money damages that exceed the limits of its hospice professional liability insurance, hospice general liability insurance or hospice auto insurance. It’s an extra layer of protection for incidents of severe bodily injury or property damage.
Hospice directors and officers insurance and hospice employment practices liability insurance are two coverages that hospices can purchase for certain legal obligations to pay money damages that do not involve bodily injury or property damage. GHP can provide both hospice directors and officers insurance and hospice employment practices liability insurance on the same policy, but only for not-for-profit hospice organizations. For-profit hospice organizations should work with their insurance agent or broker to purchase these coverages.
Hospice sexual abuse liability insurance is a serious coverage issue and a serious hospice risk management issue. Insurance companies that provide hospice liability insurance approach hospice sexual abuse liability insurance in different ways. Some include coverage by the fact that their policies don’t exclude it. Some have a separate coverage part for abuse liability, which includes hospice sexual abuse liability insurance coverage. Others exclude coverage or provide it with a reduced limit of liability.
Hospice property insurance is another coverage hospices need. Hospice property insurance protects the hospice from the financial consequences of loss or damage to buildings, furniture and fixtures, equipment and inventory and supplies. Crime insurance coverage, for employee dishonesty, forgery or alteration and theft, disappearance or destruction of money and securities is also available. GHP customers can purchase a property package policy that includes crime insurance coverage.
Hospice workers’ compensation insurance is another coverage that hospices may need to purchase. Hospice workers’ compensation insurance is generally mandated in every state. Coverage is dictated by state law and varies from state to state. Hospice workers’ compensation insurance provides state-mandated benefits for hospice employees who are injured in the course of their employment by the hospice. GHP does not provide hospice workers’ compensation insurance. Hospices should work with their insurance agent or broker to purchase this mandatory coverage.