Mistakes happen – are you covered?

We appreciate that running a healthcare business is complex and in a busy environment, mistakes can happen. If you are in a position of responsibility within your practice, you could personally be subject to criminal or regulatory investigations. If claims against you are upheld then you may incur hefty defence costs, with legal proceedings costing hundreds of thousands, or even millions. That could leave you under a great deal of stress, not to mention putting your personal assets at risk.

Management Liability Insurance

We advise that you should consider protecting yourself with Management Liability Insurance.

Management Liability is designed to cover the cost of legal action and any civil settlements from allegations of wrongdoing, directed at the practice or company as a whole or its managers, directors, and officers.

Anyone in ‘positions of responsibility and carrying a duty of care’ could be at risk.

Claims may be due to a number of things such as:

• HMRC involving financial or tax anomalies.
• Employment law, such as unfair dismissal, bullying or discrimination.
• Partnership disputes.
• Shareholder disputes within provider companies.
• Official investigations (such as, NHS England and the Health & Safety Executive).
• Regulatory such as Data Protection or those relating to the Care Quality Commission.
• Common Law including incidents like environmental pollution.
• Third Party Contract Disputes

There are further complications if you own and rent property, either commercially or as a private landlord.

Lloyd & Whytes’ Head of Commercial Business Development, James Pearce, points out that “Company directors, officers or managers, have unlimited personal financial liability for any decisions or actions they take. It is not just your business which needs protecting in the event of a claim: individuals can be called to account for their decisions and actions, even if they are retired.”

Interested in obtaining cover for your Business? Contact our team to talk about Management Liability Insurance today.

Alternatively, email:

info@lloydwhyte.com

What matters to you, matters to us

Lloyd & Whyte Ltd are authorised and regulated by the Financial Conduct Authority. Registered in England No. 03686765.  Registered Office: Affinity House, Bindon Road, Taunton, Somerset, TA2 6AA.  Calls may be recorded for use in quality management, training and customer support.