In the ever-evolving healthcare landscape, it’s not always “business as usual”, so having the right property and casualty insurance is essential.
Prepare your practice for the unexpected with tailored commercial medical insurance plans, leveraging our expertise to ensure comprehensive protection.
Commercial Insurance for Health Care Organizations
Who we provide cover for
There are times to refer to a specialist. The same holds true in insurance.
We specialize in customizing commercial insurance solutions for a wide range of healthcare providers and organizations, including:
- Physicians and medical practices
- Health services and health maintenance organizations
- Group practices and individual providers
- Clinics and healthcare facilities
- Medical professionals requiring business operations coverage
What commercial medical insurance covers
We design customized commercial insurance plans to protect the operational aspects of your practice.
- Coverage is tailored based on various factors, including:
- Location of the business/practice
- Ownership status of buildings (leased or owned)
- Clinical activities at each location
- Number of employees
- Annual payroll
- Handling of confidential client data
- Involvement in emerging medical technologies
We’ll help you secure policies that provide comprehensive coverage for property, liability, and more, ensuring your practice is well-protected against evolving challenges.
How much does commercial insurance cost?
Premiums vary based on several factors, most of which are outlined above. We’re committed to putting your needs first and helping you manage costs proactively.
Business Office/Practice Policy
Protecting and keeping your business operating smoothly is critical to your success. We can guide you on a range of options to manage risk in the face of unexpected circumstances that may arise frequently in the healthcare industry.
Workers' Compensation
When a team member is injured, the whole operation is impacted. Make sure your practice has the proper insurance coverage to support your staff if they are injured on the job. Workers Compensation Insurance regulations vary by state but should generally be a component of your insurance program to ensure compliance and protection for your employees.
Business auto
Does your practice own or lease vehicles? Do your employees use personal vehicles for work purposes, even occasionally? Does a partner rent a vehicle while at a work conference? Automobiles associated with a business in any of those ways require special coverages that we can support you with.
Umbrella
Sometimes you need more than just a raincoat when the rain comes. An umbrella can protect you against the unexpected. An umbrella policy, as the name suggests, ‘sits over’ your other coverages to provide additional protection. It extends your existing coverage limits, offering an extra layer of security for your practice.
Cyber Liability
Cyber threats are growing, yet many practices lack sufficient insurance coverage to manage recovery costs. Hackers are now the primary source of data breaches, costing over $200 per patient record, with total expenses often exceeding $100,000 for small offices within the first 90 days. As the frequency and severity of cyber incidents rise annually, it’s crucial to protect your practice.
Management Liability Insurance
Allegations against your staff can jeopardize your business, so it’s crucial to make sure your team and their roles are adequately insured. Management liability insurance covers a wide range of exposures, safeguarding your practice from unforeseen allegations.
Medical Technology, Life Sciences/Products and Clinical Trials Liability
Healthcare expertise extends far beyond the exam room. We’ll guide you to the coverage needed for advancing technology, research, and solutions. Whether your medical activity involves biotechnology, med-tech research, or clinical trials, we can help you secure tailored, industry-specific coverage.
Richard Weston
November 19, 2018
Richard Weston
CIC, Operations Manager
Specializing in commercial insurance, Rich joined Physicians Insurance in 2002. Since that time, he has built a solid client base, striving each day to know more about insurance products than his competitors and to provide clients with solutions whenever problems arise.Meet Richard
Deborah Kelley
November 19, 2018
Deborah Kelley
Operations Manager
A veteran insurance professional, Deborah skillfully satisfies clients’ need for knowledgeable, prompt service, especially when it comes to the nuances of property & casualty.Meet Deborah
S. Scott Berger
November 19, 2018
S. Scott Berger
CIC, Senior Account Executive
Scott has been in the insurance industry since 2002 and joined PIAM in 2013. He is responsible for several of the largest clients in our agency as well as overseeing the health insurance programs for practices and for retired physicians.Meet Scott
Gordon Bewick
February 21, 2023
Gordon Bewick
Director
Gordon joined Physicians Insurance in 2022 after a storied career in insurance that includes founding Boston Insurance Brokerage (BIB) and 22 years with the Sedgwick Group, a leading Lloyd’s of London brokerage company, and its subsidiaries. In March 1984, he was chosen by the Sedgwick Group London to move to New York City to be part of a team to establish Sedgwick Group in the United States...Meet Gordon
Thomas J. Bryant
November 19, 2018
Thomas Bryant
ARM, President
After a diverse 25-year career in Canada, including marine industry and federal law enforcement, Tom entered the US insurance world in 2004. Since his first day, he has been involved with healthcare clients — from large health systems to solo practitioners, spanning most specialties and subspecialties.Meet Thomas
“My sense is that they created a specialized product for us.”
Jeff Greenberg , Physician, Firefly Health
Request a free, no-obligation quote today
Is it time to examine your current policy? Remember, what you don’t know can hurt you.
The simplest way to mitigate risk is through thorough preparation. At Physicians Insurance, we are best placed to help enhance your preparedness.
With our extensive experience and deep industry knowledge, we are confident in our ability to tailor a competitively priced insurance program that addresses your unique needs.
Simply complete the form to request a free, no-obligation commercial insurance quote, and we will contact you to discuss your options.
FAQs
What is commercial insurance?
Commercial insurance provides tailored coverage for healthcare practices, protecting against risks like property damage, liability, and employee injuries. These plans are customized based on various factors unique to each practice.
Who needs commercial insurance?
Healthcare providers and organizations—including physicians, health services, health maintenance organizations, clinics, and group practices—need commercial medical insurance plans to help safeguard their operations and manage risks effectively.
Which states require commercial insurance?
While specific requirements for commercial medical insurance vary by state, most states mandate certain insurance coverages, such as Workers’ Compensation Insurance. It’s essential to consult state regulations to ensure compliance.
Is commercial insurance tax deductible?
Yes, commercial medical insurance premiums are typically tax-deductible as a business expense, helping to reduce the overall tax burden for healthcare practices.