Your customers will have high expectations of you as a professional giving advice or therapeutic services, and understandably so; after all, you are an expert in your industry. Despite this, consumers may be disappointed with the service they have gotten on occasion. When your advice or service fails to satisfy a client’s expectations, whether you are at fault or not, you risk being accused of carelessness.
Even if you successfully defend yourself against a lawsuit, there’s a good possibility you’ll be saddled with hefty legal bills. This might have disastrous consequences for you and your company, including reputational harm.
Defending yourself and your company
Of course, it’s hard to know in advance whether or not a customer would file a claim against you. If you’re a therapist or operate in a field that deals with people, you may protect yourself by getting the correct professional indemnity insurance (PI). Any legal charges and expenses you spend while fighting a claim are covered by PI.
Accidents do occur. Even the most seasoned specialists are prone to making blunders. Let’s say you’re judged to be at fault for providing poor advice or providing a service that causes your client to lose money. In that instance, PI may be able to cover the expense of the compensation to be paid. It can also assist you in rapidly and effectively managing the problem. A claim filed against you might have a significant negative impact on your business. In most circumstances, the faster you respond to a claim, the better, both monetarily and in terms of your reputation.
EXAMPLE 1: Copyright infringement
A music therapist, for example, may use the intellectual property of another therapist, such as materials or therapeutic tools. This may be a costly error if the owner does not provide permission first, resulting in a copyright violation.
EXAMPLE 2: When a treatment fails
A psychotherapist may propose psychoanalytic treatment after studying a client’s notes to address the unconscious feelings that are causing their difficulties. After getting this treatment, the client may believe that going down this path was a mistake, or that bringing up sad memories caused mental harm, job loss, or relationship breakup.
When purchasing PI insurance, what should I keep in mind?
When it comes to PI insurance, it’s critical to be sure your coverage is enough you don’t want to find out you’re underinsured when it’s time to file a claim. On the other hand, no one wants to pay for coverage that isn’t require. It’s simple to purchase Oxygen insurance online if you know the coverage you require. If you want assistance, you may contact one of our helpful experts. Make sure you read and understand your policy wording, endorsements, and exclusions once your coverage is in place.
What else can I do to safeguard myself and my company?
It’s also a good idea to review your risk management in addition to ensuring you have the proper amount of PI. Are you taking all possible precautions to safeguard yourself? Are you, for example, following the proper procedures for determining your clients’ needs?
Provide initial consultations to learn about their objectives and aspirations for your service, and create targets to guarantee you’re offering the correct service for them.
- Before beginning therapy sessions with a new client, obtain written consent and confirmation of any medical conditions.
- Respect client privacy and comply with the General Data Protection Regulation (GDPR) by retaining just the personal data you require and for the appropriate amount of time.
- Make sure your marketing materials are clear, factual, and not deceptive.
- If you have terms and conditions, rules, or procedures that apply to your services, post them on your website so that clients may study them.
If you find yourself facing a claim, you must be prepare to back up your counsel with proof. As a result, documenting your operations and keeping copies of documents and notes on file is not only a good idea, but it may also shield you against a future successful lawsuit.
Whether it’s negligence, defamation, or copyright infringement, these lawsuits may be expensive and disruptive to your business. It’s vital to have the right security in place so you can concentrate on your consumers.
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