Practice Risk Solutions

Business Coverage

Do you operate an independent practice? Is your practice incorporated? Do you have employees billing under your organization? SAC members have exclusive access to discounted business insurance with coverage designed to meet the specific needs of speech-language pathologists and audiologists.

The SAC insurance program allows members to choose from one of three Plans according to your individual needs, with Plans 2 and 3 designed for members with business exposures. Each Plan allows you to increase and add coverages as needed, so you can truly tailor your insurance coverage according to your specific needs.

  • Employment Practices Liability

    Employment Practices Liability Insurance (EPL) includes coverage for defense costs and damages related to various employment-related claims including allegations of wrongful termination, discrimination, workplace harassment and retaliation.

    Please click here to find out more!
  • What is Commercial General Liability Insurance and do I need it?

    Commercial General Liability insurance provides coverage to protect against claims arising from injury or property damage that you (or your business) may cause to another person as a result of your operations and/or premises (for example, a patient may slip and fall on a wet floor in your clinic or your employee may accidentally cause property damage to a patient’s home during a consultation).

    This coverage is recommended for SAC members who own or operate clinics. Coverage is also recommended for independent practitioners who contract out their services or bill under their business name. Commercial General Liability insurance is included in SAC Plans 2 and 3.

  • What is Office Contents Insurance and do I need it?

    Office Contents insurance protects against damage to contents, including medical equipment, and loss of revenues caused by an interruption of business activities arising from an insured loss. Details of the basic Office Contents coverage included in Plan 3 is outlined below. SAC members are able to purchase additional Office Contents insurance if required. Subject to exclusions - 90% co-insurance.

    Coverage Limit
    Office Contents
    Covers the contents usual to an office (i.e. desk chairs, filing cabinets and computers while situated at the address indicated on your certificate). This policy provides “All Risks” of direct physical loss or damage to all assets (subject to policy exclusions) that you own or that you are responsible to insure.
    Includes:
    $125,000
    Replacement cost of laptops Yes
    Earthquake Coverage Additional Premium
    Flood Coverage Additional Premium
    Sewer Backup Yes
    Accounts Receivable $100,000
    Valuable Papers and Records
    Covers the additional expenses incurred to reproduce written, printed and otherwise inscribed papers following a loss.
    $100,000
    Extra Expense
    Covers the additional expenses you incur in order to maintain normal operations after an insured loss.
    $100,000
    Business Interruption
    Actual loss sustained
    Deductible $1,000
  • Clinic Professional Liability Insurance

    In the event of a claim, both the treating professional (any regulated health professional) and the business are likely to be named in a statement of claim or lawsuit. Clinic Professional Liability Insurance protects the business and its assets in such circumstances. You should purchase this coverage if you have health professionals working for, or on behalf of, your clinic and billing under your clinic name. In addition, if you do not have employees but have an incorporated clinic, you should also purchase this coverage.

  • Increased Commercial General Liability Insurance limits

    Commercial General Liability insurance provides coverage to protect against claims arising from injury or property damage that you (or your business) may cause to another person as a result of your operations and/or premises (for example, a patient may slip and fall on a wet floor in your clinic or your employee may accidentally cause property damage to a patient’s home during a consultation).

    Plan 2 and Plan 3 automatically include CGL with a $5,000,000 per claim and $6,000,000 per year aggregate limit. Or choose to increase your CGL coverage to $7,000,000 per claim and $8,000,000 per year aggregate.

  • Increased Office Contents Insurance limits

    Office Contents insurance protects against damage to contents, including medical equipment, and loss of revenues caused by an interruption of business activities arising from an insured loss.

    Plan 3 automatically includes Office Contents Insurance with a $125,000 per claim limit. Or choose to increase your Office Contents Insurance up to $250,000.

  • Additional Locations

    Business owners operating more than one location can rest easy knowing that their Clinic Professional Liability Insurance and Commercial General Liability Insurance will extend to protect multiple locations if operating under the same entity.

    But what about your office contents? If you have more than one location, you may want to secure Office Contents Insurance for each site to protect against damage to contents, including medical equipment, and loss of revenues caused by an interruption of business activities arising from an insured loss. With Plan 3, you can purchase additional Office Contents Insurance to protect each of your business locations.

  • Employee Fidelity Bond

    Protect your business against financial loss due to employee dishonesty, fraud or theft of money, securities or other property owned by the office/clinic. Employee Fidelity Bond should be considered when employees are entrusted to handle cash or other valuable assets belonging to you and/or your business.

  • Third Party Fidelity Bond

    Third Party Fidelity Bond policies provide coverage for the theft of your patient’s property by one of your employee. Members who are contracting out their services or are employed in more than one location may be required to purchase Third Party Fidelity Bond coverage in order to satisfy contractual requirements.

    This page is for information purposes to outline the benefits of the Policy. The Policy document itself sets out the terms and conditions of the insurance, including any exclusions or limitations that may apply. In the event of a claim such terms and conditions may limit the amount payable, or exclude coverage.

    If you wish to receive the Policy document, please contact us.

Coverage brochure