Business Insurance Program

When you operate your own business, you have many things to worry about. Insurance coverage should not be one of them. The Medical Malpractice Liability coverage and the General Liability coverage included within your NHPC membership DOES NOT INCLUDE coverage for corporations or legal entities and only includes coverage for you – the individual. If you operate under another name, entity, partnership or corporation, and that other name/entity/partnership or corporation is sued – you would have no coverage unless you purchase business insurance or have made other arrangements elsewhere. You should purchase business coverage for all other exposures beyond you – the individual.

For example, if you have incorporated or registered a business, you would need to ensure that the legal name has coverage as your currently policy covers only you - the individual. An example as follows: Mary Smith is a members of NHPC and has the Medical Malpractice Liability coverage and the General Liability coverage. Mary Smith decides to register her business name as "Smith Wellness Centre Inc." If a client came to Mary's office and fell on the carpet and sued Smith Wellness Centre Inc., there would be no coverage for Smith Wellness Centre Inc. and unless Mary made arrangements to cover her legal entity, ALL of the liability would fall on Mary Smith - the individual. Mary's personal policy would not respond because Mary Smith is not being sued. Ultimately, Mary would be paying for the legal fees and all associated costs out of her own pocket.

NHPC has worked, diligently, with the insurance industry, to offer you an insurance program that is tailored to your particular needs and, as part of a group program, extends significant savings to you. In order to obtain business insurance coverage, you need to contact AON Reed Stenhouse directly.

Business Insurance Program

Not only is Medical Malpractice Insurance coverage, and, in most cases, the optional Commercial General Liability insurance coverage essential for Association members, comprehensive business insurance coverage is also important to consider. The business insurance is a voluntary program offered by the NHPC to members.

Policies and coverage for Business Insurance Program can be arranged and paid for directly through AON Reed Stenhouse Inc. The Business Insurance Program provides:

• Coverage for up to $30,000 of business contents automatically, which includes office leasehold improvements, equipment, office contents, computer equipment (maximum limit for computers is $25,000, included within the $30,000 contents limit) and inventory. All Risks coverage is included, covering such perils as fire, theft, and water damage.
• Coverage for up to $50,000 for Business Interruption (loss of business income).
• Coverage for up to $25,000 Employee Dishonesty, up to $10,000 loss of money and securities, and up to $10,000 Money Orders and Counterfeit Paper Currency, and up to $10,000 Depositors Forgery.
• Equipment Breakdown (“Boiler & Machinery), covering breakdown of mechanical and electrical equipment and pressure vessels (i.e. air conditioning, heating and mechanical equipment) and resulting damage to other property.
• Higher Contents and Business Interruption limits are available on request, and building coverage is available, where required.

Business Insurance Program Premiums

Business Base Premium Office/Clinic Based Business - $225 annual premium, plus provincial taxes where applicable (described on application) Home Based Business - $200 annual premium, plus taxes where applicable.

Coverage for additional business locations is available at $150 additional premium for each location, whether home or clinic/office based.

Should you require higher contents or business interruption limits or building coverage, arrangements can be made directly through AON Reed Stenhouse Inc.