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(p. 35) Insurance Needs of the Private Practitioner 

(p. 35) Insurance Needs of the Private Practitioner
(p. 35) Insurance Needs of the Private Practitioner

Martin G. Tracy

and Jana N. Martin

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date: 04 April 2020

This chapter introduces clinicians to the types of insurance coverage they should procure before they see their first clients. It discusses the concept of negligence in professional practice and summarizes provisions of professional liability insurance (including prior acts coverage), licensure defense coverage, and the business owner’s policy. It explains the availability of ancillary services, such as risk management education and consultation, from some insurance companies. The chapter makes clear that while professional coverage is essential, personal coverage through disability or income protection insurance and life insurance is just as important to the financial security of the clinician. It provides data regarding the often overlooked risk of disability during a clinician’s working years and considers the definition of “disability” in various policies. It points out that an office overhead policy can ensure that the clinician’s office expenses are paid if the clinician becomes disabled.

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