What is Occupational Therapy Insurance?
Occupational therapy liability insurance is essential for protecting therapists against legal and financial risks arising from professional services, workplace incidents, or product-related issues. Common types include professional liability, which covers malpractice claims; general liability, which protects against injuries or damages occurring in practice spaces; and product liability, which addresses injuries caused by defective equipment. While employer-provided insurance often covers most risks, self-employed OTs or those working outside their primary roles may need additional policies to ensure comprehensive coverage. Affordable options, like ProLiability and HPSO, are available, making it crucial for OTs to evaluate their specific needs and secure appropriate protection to safeguard their careers and financial stability.
To ensure comprehensive protection, occupational therapists may also need additional policies such as general liability insurance for property damage and bodily injuries, workers’ compensation for employee injuries, and commercial property insurance for equipment and workspaces. Data breach insurance, also known as cyber liability insurance, can be vital for protecting patient records and responding to security breaches. The cost of occupational therapy liability insurance varies based on factors like experience, claims history, and location, with average rates ranging from $100 to $1,000 annually. By working with experienced insurance providers, therapists can tailor their policies to address their specific risks and secure the coverage needed to protect their careers and businesses.
Example of OT Insurance Providers
Proliability
Proliability offers comprehensive liability insurance tailored for occupational therapy practitioners, including employed, self-employed, or practice-owning professionals. With premiums starting as low as $83, the coverage includes up to $1 million per occurrence and $3 million aggregate for professional liability claims, along with legal representation that doesn’t erode liability limits. Additional benefits include $25,000 for HIPAA violation costs, reimbursement for licensing board investigations, deposition expenses, and first aid reimbursement. The policy is portable, following practitioners 24/7 across work settings, and features an occurrence policy form, covering incidents reported after the policy period.
Proliability’s insurance also incorporates risk management resources through OmniSure Consulting Group, offering policyholders tools like self-assessment programs, monthly risk reduction tips, and on-demand consultation services. Optional add-ons, such as general liability insurance and consulting services endorsements, further enhance protection. As the only liability insurance program endorsed by AOTA since 1965, Proliability ensures occupational therapy practitioners have the coverage needed to safeguard their careers, financial stability, and professional reputation.
https://www.proliability.com/professional-liability-insurance/occupational-therapists.html
MyOT Insurance
MyOT Insurance provides affordable, comprehensive professional and general liability coverage for occupational therapists, tailored to suit various employment types, from assistants to self-employed practitioners. With instant coverage starting at $89/year, it includes $1 million per occurrence and $3 million annually for liability, along with personal injury protection and identity theft coverage. Policies feature mobile coverage across all 50 states, no extra fees for multiple modalities, and are backed by Gallagher, the world’s third-largest brokerage. Designed for ease, the application process takes less than five minutes, ensuring peace of mind and protection for your OT career.
https://myotinsurance.com/
Hiscox
Occupational therapist insurance from Hiscox offers both professional and general liability coverage to protect therapists from risks like negligence, bodily injury, property damage, and personal injury claims. Professional liability insurance covers scenarios such as treatment-related claims, confidentiality breaches, and allegations of misconduct, while general liability insurance addresses third-party injuries and property damage. Hiscox stands out with tailored policies, flexible payment options, and responsive claims handling, providing worldwide coverage for work performed and the confidence to focus on growing your business.
https://www.hiscox.com/small-business-insurance/professional-business-insurance/health-and-wellbeing/therapist-insurance/occupational-therapist-insurance
CM&F Group
CM&F offers tailored professional liability insurance for occupational therapists, providing up to $2 million per claim with 24/7 portable coverage that extends to telehealth, volunteer, or per diem roles. The policy includes benefits like license defense, HIPAA defense, and sexual misconduct defense, ensuring comprehensive protection for assets, license, and reputation. Trusted by over 100,000 healthcare providers, CM&F combines over 100 years of expertise with innovative technology to deliver reliable and accessible insurance solutions.
https://www.cmfgroup.com/professional-liability-insurance/occupational-therapy-professional-insurance/occupational-therapist-insurance/
Aon Healthcare
The Aon Healthcare Advantage insurance program offers comprehensive and affordable coverage tailored for occupational therapists. With premiums starting at $50 annually, the program provides up to $5 million in professional liability coverage, legal defense for malpractice claims, and optional commercial general liability coverage. It ensures robust protection for career and financial security, meeting or exceeding provincial requirements and endorsed by over 200 healthcare associations.
https://www.aon.com/canada/aha/ot/index.jsp