Healthcare Industry

Healthcare facility insurance is vital to safeguard the operations, assets, and reputation of healthcare providers in an industry marked by complex risks and high stakes. As bastions of care, healing, and patient safety, healthcare facilities face a multitude of challenges, from medical malpractice claims to cyber threats, natural disasters, and regulatory compliance. In this context, insurance serves as a critical safety net, offering financial protection, legal support, and peace of mind amidst the ever-evolving landscape of healthcare.

Healthcare facility insurance is necessary to address a wide array of risks and liabilities unique to the healthcare sector. This coverage protects against medical malpractice claims, errors or omissions in patient care, bodily injury or property damage on premises, and cyber breaches compromising sensitive patient information. Additionally, it provides coverage for business interruption, equipment breakdowns, and regulatory fines, ensuring continuity of care and compliance with healthcare regulations.

Furthermore, healthcare facility insurance plays a crucial role in safeguarding the financial stability and reputation of healthcare providers. In the event of a medical malpractice lawsuit or adverse incident, insurance coverage can mitigate the financial impact of legal expenses, settlements, or judgments, preserving the organization’s resources and mitigating reputational damage.

Healthcare Industry

Beyond financial protection, healthcare facility insurance facilitates proactive risk management and quality improvement initiatives. By incentivizing the adoption of best practices, patient safety protocols, and staff training programs, insurance carriers contribute to enhancing the overall quality of care and reducing the frequency and severity of adverse events.

In summary, healthcare facility insurance is indispensable for protecting patients, providers, and the broader community served by healthcare organizations. By investing in comprehensive insurance coverage, healthcare facilities can mitigate risks, ensure financial resilience, and uphold their commitment to delivering safe, high-quality care to patients in need.

Why Choose The Millward Agency?

Choosing The Millward Agency means opting for unwavering confidence in your insurance provider. Our accolades and recognitions speak volumes about our commitment to excellence. Our bespoke insurance solutions are designed to underwrite your success, with a proven track record of serving businesses like yours with integrity, innovation, and a keen understanding of industry-specific risks.

Nationwide Presence

We are proud to offer nationwide coverage while retaining a personal touch that resonates with local communities. Our understanding of diverse regional needs ensures that our clients receive service that feels both global and neighborly.

75+ Years of Expertise

We carry a legacy of over seven decades in the insurance industry. Our enduring commitment to excellence is rooted in a deep understanding of insurance’s evolving landscape, shaped by years of experience and client-focused service.

Integrity in Every Policy

Our philosophy is simple: if we wouldn’t buy it ourselves, we won’t sell it. This ethos ensures every policy we offer is built on a foundation of trust and reliability, reflecting our commitment to honest and transparent insurance solutions.

Class of Business

Healthcare facilities encompass a diverse range of institutions that provide medical services, care, and support to individuals in need.
These healthcare facilities play critical roles in delivering comprehensive and patient-centered care across the continuum of health and wellness, addressing the diverse needs of individuals and communities.

Here are some common types of healthcare facilities:

IconHospitals

Hospitals are large medical facilities equipped to provide a wide range of diagnostic, therapeutic, and surgical services. They may include various departments such as emergency rooms, intensive care units, surgical suites, maternity wards, and specialty clinics.

IconClinics
Clinics are outpatient healthcare facilities that offer medical services, consultations, treatments, and preventive care to patients. They may specialize in specific medical specialties or provide primary care services, such as family medicine, pediatrics, internal medicine, or specialized clinics like dermatology or orthopedics.

IconUrgent Care Centers
Urgent care centers provide walk-in medical care for patients with non-life-threatening illnesses or injuries that require immediate attention but do not warrant a visit to the emergency room. They offer extended hours and may provide services like diagnostic testing, X-rays, and minor procedures.
IconAmbulatory Surgical Centers (ASCs)

ASCs are outpatient facilities that specialize in performing surgical procedures that do not require an overnight stay. They provide a more cost-effective and convenient alternative to traditional hospital-based surgery, offering a wide range of elective and minor surgeries.

IconNursing Homes (Skilled Nursing Facilities)

Nursing homes provide long-term care and assistance to elderly or disabled individuals who require 24-hour nursing care and support with activities of daily living. They offer a range of services, including medical care, rehabilitation, and assistance with personal care and medication management.

IconAssisted Living Facilities
Assisted living facilities provide housing, support services, and assistance with activities of daily living for elderly or disabled individuals who require some assistance but do not need 24-hour nursing care. They offer a combination of independent living and supportive services tailored to individual needs.

IconHospice Care Centers
Hospice care centers provide compassionate end-of-life care and support services to patients with terminal illnesses and their families. They focus on managing pain, providing comfort, and supporting emotional and spiritual needs during the end-of-life journey.

 

IconRehabilitation Centers

Rehabilitation centers offer specialized programs and therapies to help patients recover from injuries, surgeries, illnesses, or disabilities. They provide physical therapy, occupational therapy, speech therapy, and other rehabilitative services to restore function, mobility, and independence.

IconMental Health Facilities

Mental health facilities provide treatment, counseling, and support services for individuals with mental health disorders, substance abuse issues, or behavioral health challenges. They may include psychiatric hospitals, residential treatment centers, outpatient clinics, and crisis intervention services.

IconHome Health Agencie
Home health agencies provide medical care, nursing services, therapy, and support to patients in their own homes. They offer a range of services, including wound care, medication management, physical therapy, and assistance with activities of daily living.

 

Common Policies Needed

Insurance coverage for healthcare facilities is essential to protect against various risks and liabilities inherent in their operations. These insurance coverages help healthcare facilities mitigate risks, protect against liabilities, and ensure continuity of operations in the face of unforeseen events. It’s essential for healthcare facilities to work with experienced insurance professionals to assess their specific risks and tailor insurance programs to their unique needs and exposures.


Here are some common insurance coverages needed for healthcare facilities:

Professional Liability Insurance (E&O)

Professional liability insurance, also known as errors and omissions (E&O) insurance, is a type of insurance coverage designed to protect professionals from liability arising from their professional services. It provides financial protection in case a client alleges that the professional’s services or advice caused them financial loss or harm. This insurance typically covers legal defense costs, settlements, and judgments that may arise from claims of negligence, errors, omissions, or failure to perform professional duties.

Medical Malpractice Insurance

Protects healthcare providers, including physicians, nurses, and other medical professionals, against claims of negligence or errors in patient care. This coverage is essential for addressing medical malpractice lawsuits alleging harm or injury to patients.

General Liability Insurance

Provides coverage for bodily injury, property damage, and personal injury claims arising from accidents or incidents on the healthcare facility’s premises. General liability insurance protects against lawsuits from patients, visitors, or third parties.

Property Insurance

Covers damage or loss to the healthcare facility’s physical assets, including buildings, equipment, furniture, and other property, due to perils such as fire, theft, vandalism, or natural disasters.

Cyber Liability Insurance

Protects against losses resulting from data breaches, cyberattacks, or other cyber incidents that compromise sensitive patient information stored or transmitted by the healthcare facility’s computer systems. Cyber liability insurance is essential for protecting patient privacy and complying with healthcare regulations.

Workers' Compensation Insurance

Provides coverage for medical expenses, lost wages, and disability benefits for employees who are injured or become ill while performing their job duties at the healthcare facility. Workers’ compensation insurance is mandatory in most jurisdictions and helps protect both employees and employers.

Directors and Officers (D&O) Insurance

Protects the healthcare facility’s directors, officers, and board members from personal liability for decisions made in their official capacities. D&O insurance covers legal expenses and damages arising from lawsuits alleging mismanagement, breach of fiduciary duty, or other wrongful acts.

Employment Practices Liability Insurance (EPLI)

Provides coverage for claims related to employment practices such as discrimination, harassment, wrongful termination, or violation of employment laws. EPLI insurance protects against lawsuits filed by current or former employees alleging unfair treatment or unlawful practices.

Business Interruption Insurance

Provides coverage for lost income and extra expenses incurred by the healthcare facility due to a temporary closure or interruption of operations caused by covered perils, such as fire, vandalism, or natural disasters.

Abuse and Molestation Insurance

Protects against claims of physical, sexual, or emotional abuse or molestation by employees, volunteers, or other individuals associated with the healthcare facility. This coverage is essential for protecting patients and addressing allegations of misconduct.

Environmental Liability Insurance

Covers cleanup costs and liability for pollution or environmental contamination at the healthcare facility’s premises. Environmental liability insurance is important for addressing risks associated with hazardous materials, waste disposal, or environmental hazards.

The Millward Agency, Inc. Testimonials

Hear from our clients who have achieved stability and growth with The Millward Agency’s insurance solutions. Our case studies demonstrate our commitment to providing unparalleled support and protection, proving that no challenge is too big when you have the right insurance partner.

Kurtis ThorntonKurtis Thornton
18:38 16 Jan 22
Very helpful and nice people, a great place to get your insurance needs taken care of.
Christopher LymanChristopher Lyman
14:48 26 Oct 19
Finally, I don't need to ever look for another insurance agent. The Millward Agency handles my personal and business insurance. Always helpful with my questions and quick to respond to my emergencies. The Millward Agency Rocks!
Markusz SudozMarkusz Sudoz
19:03 19 Jul 19
Every time I go to my broker, Ed Caceres @ the Millward Agency, he always finds me the best insurance rates on my real estate properties. Ed is great, always extremely responsive and understanding of the industry. In the past I would go do my own insurance shopping and spend hours on hours to get the best rate, now I do not even bother shopping around I just call Ed and he always has the best pricing. In the beginning I got a quote from Ed then shopped around, now I have learned to not even waste my time. Ed @ Millward Always saves me hundreds of dollars. 110% on customer service, 100% on pricing!!! A+++
Mobility SolutionsMobility Solutions
19:09 25 Jul 18
Everybody!!!!! is Great to work with when ever I need anything which is almost monthly.Linda
carlene klebecarlene klebe
20:01 22 Jun 18
My former insurance agent and friend recommended Ed Caceres of Millward Agency. Within hours of having given Ed a call, I had quotes and was decided to go with his carrier. He was professional and answered all my questions. I’m happy to have done business with Ed and Millward Agency.
John CourtneyJohn Courtney
16:20 11 Jun 18
Business or Personal this is who you want - Personal service from their Team is amazing, treat as though you are their only client.* Business - Review policy/coverage every year. Not limited to one or two insurance providers. Recommend changes, not necessarily to save money (although it is available) provide additional coverage. Three months later our additional coverage cost $150 on a $15000 claim. For years we were not covered! They are not limited to one or two insurance providers as our previous agent.* Personal - couple of claims were handled like we were their only client. They bundled coverage in such a way to save $2100 a year for a family of four and kids in college.***Will continue to recommend to business colleagues, friends and family***
Karen CarterKaren Carter
16:01 08 Jun 18
Our company has been working with Millward Agency for many years.They have been the best insurance company I have ever worked with.The staff is always very informative and very professional. Our insurance needs which include general, auto and worker's comp are very complex. Millward is able to handle and update all of our needs at any time of the year. I really like the fact they get back to you very quickly! They are very knowledgeable and caring we never think of going elsewhere. We will definitely be customers for years to come. Thank you Millward Agency!
Chad StottChad Stott
17:56 07 Jun 18
Wade and the Millward team have been consistently reliable, prompt, knowledgeable and a pleasure to work with. Wade and his crew have guided us through our ever growing needs and we attribute our success to the partnerships we have forged with organizations like The Millward Agency. We look forward to many more years working together.
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