Is your private work adequately covered?

Protecting your practice

Lloyd & Whyte have identified the need for the following cover;

Commercial Combined Insurance – this will provide cover for the premises where you undertake your private work. Lloyd & Whyte provide comprehensive package policies which can offer Buildings, Contents, Stock, and Business Interruption. Plus, Public and Employers liability cover as protection from claims arising that relate to the day-to-day running of your business, brought against you by either your employees or a third party, even if you are working remotely. Employers’ liability is a legal requirement for any private limited company.

Professional Indemnity/ Malpractice – cover to protect yourself as an individual and also your business (the entity) and employees, against accusations of negligence. This insurance will also cover your legal defence costs and any potentially huge compensation claims.

Cyber Insurance – cover to protect your data, digital assets and reputation. The healthcare sector is a prime target because of the high value of the sensitive data it manages. It helps cover financial losses due to cyber-attacks or other tech-related risks, as well as privacy investigations or lawsuits following an attack.

Locum Insurance – is the state reimbursement scheme enough to sustain a long term absence in your business? Lloyd & Whyte have a policy to pick up the short-fall. The policy will help cover practice overheads and expenses as a vital safety net to allow you to continue operating, providing financial support to cover the costs of locum cover, overtime or company sick pay in the event that you, or other colleagues are absent from work long term. The pre-agreed weekly benefit is paid directly to the practice to use as you see fit.

Management Liability – includes:

Directors and Officers (D&O) insurance (particularly covering clinical directors and managers) Will protect your personal assets in the event you are personally sued by employees, vendors, competitors, investors, customers, or other parties, for actual or alleged wrongful acts in managing a company.

Employment Practices Liability (e.g., contract disputes, tribunals for unfair dismissal)

Company Legal Liability (legal defence costs in respect of regulatory action/disciplinary hearings)

Lloyd & Whyte will make sure your cover is bespoke to your circumstances and your protection won’t stop when you retire or stop practising.