Physiotherapist Insurance

Physiotherapist Insurance Ontario

What You Need to Know About Physiotherapist Insurance

Physiotherapists are essential in helping patients recover by helping rehabilitate them after surgery, an injury or an illness. Patients rely on your expertise to help them feel better, regain motion and get moving again. 

Thus, no matter how cautious you are with following every precaution you can, your business is at risk of personal injury, malpractice or accident claims. For this reason, it is vital that any physiotherapist has a strong, comprehensive business insurance policy to safeguard themselves and their business. 

Insurance Coverage Options

The team at Insurance Hero recognizes that no two physiotherapists are alike. As such, we have many coverage options available to protect your unique needs. Our insurance heroes are adept at inquiring about your wants and requirements to guarantee you receive high-quality coverage. 

When you work with Insurance Hero, you can trust that we will find you top insurance coverage at the most affordable price point. Our insurance heroes will assemble a comprehensive policy to safeguard you and your business from daily risks and perils to ensure you can go about your job worry-free.

What is physiotherapist liability insurance?

In Ontario, physiotherapist insurance is a specially built insurance portfolio for physiotherapists to safeguard themselves and their businesses from industry-related risks, such as damages, losses and injuries. Since every physiotherapist is different, there are several liability coverages you should consider adding to your policy when building your comprehensive insurance package. 

What does physiotherapy liability insurance cover?

To build an insurance policy for physiotherapists, there are several coverages one could include. However, the essential one that is mandated by Canadian law for all medical professionals is medical malpractice insurance (also known as professional liability insurance). Medical malpractice insurance is when a health professional fails to meet a standard of care that results in harm or loss to a patient (e.g., misdiagnosis, delayed treatment, mistakes during surgery, wrong treatment, etc.)

This insurance coverage helps financially with legal fees, medical bills and other associated fees from claims of third-party injury due to negligence. Medical malpractice covers the following areas:

  • Professional Services
  • Substandard Treatment
  • Treatment-Related Injuries
  • Failure to Monitor
  • Failure to Inform 
  • Failure to Communicate
  • Negligence
  • Errors, mistakes and oversights
  • Failure to meet a standard of care

What other types of insurance do physiotherapists need?

As a medical professional, it is important to protect yourself. In addition to medical malpractice insurance, below are coverages you may also find in a standard physiotherapist insurance policy.

Commercial General Liability Insurance

Commercial general liability protects you, your business and any employees from legal liability against third-party bodily injury or property damage claims that occurred while a patient was at your office. It covers the costs of medical bills, legal fees, and repairs or replacements. This insurance policy also protects the business against any advertising and reputational injuries (e.g., slander, libel, copyright infringement).]

Commercial Property Insurance

Commercial property insurance protects your practice and the contents inside (e.g., equipment, inventory, etc.) by covering any financial loss from such perils as:

  • Property damage due to natural disasters, flood, fire, vandalism or theft.
  • Property damage or theft of electronics, equipment, company documents or employees’ personal belongings.
  • Inventory theft by employees.

Commercial property insurance can also include business interruption, which protects your business should you be unable to work due to an illness or injury and have to shut it down temporarily. This helps offset ongoing costs from income losses, such as bills, employee wages, etc.

Cyber Liability Insurance

Cyber and privacy liability insurance protects the business by covering damages and legal claims if a patient’s personal information is leaked or stolen due to a data breach or theft. As storing business information online has become standard practice, this has become an essential insurance policy for every medical business that handles patient information.

What impacts physiotherapy liability insurance rates?

There are many elements that affect a physiotherapist’s insurance rates. While choosing which coverages best protect you, your insurance company will consider the following factors:

  • Your previous insurance claims history
  • Your annual and projected revenue
  • The type of services you offer
  • Your location/the location of your office
  • The amount of training and experience you have

Is physiotherapy insurance mandatory?

While it is mandatory for all physiotherapists in Ontario to have medical malpractice insurance, the other coverages listed above are not required. However, it is certainly risky to consider operating without them. If you are suddenly faced with a lawsuit by a patient who slipped and fell in your lobby, could you afford the legal fees or the medical bills? And what if your system was hacked and your patients’ private medical files or credit card numbers were leaked; could you afford the legal fees if your patients sued? What if a powerful storm shatters the front window of your office or an electrical short causes a fire? Having comprehensive physiotherapist insurance can ultimately save you and your business from financial ruin and bankruptcy.

How much liability coverage do physiotherapists need?

The amount of coverage a physiotherapist needs varies depending on which province your business is in. In order for physiotherapists in Ontario to register with the College of Physiotherapists of Ontario, they must have the following:

  • A minimum of $5 million in liability per annual policy period
  • A minimum of $5 million in liability per incident
  • No deductibles
  • No additional terms, conditions or exclusions

Physiotherapists are also required to have a minimum of 10 years in tail insurance to cover any claims made up to 10 years after you stop practicing.

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You’ve dedicated your career to helping others feel better; now it’s time to let us help you. Let Insurance Hero help manage your risk and insurance costs by conducting a full commercial insurance policy review to determine what kind of coverage is best for you!

For reliable, affordable Ontario physiotherapist insurance, please request a quote online or call us at 1-855-777-4376. Our team of insurance heroes is happy to answer any questions you have!