As in all other professions, veterinary clinic insurance is just as important. Veterinarians are professional doctors who have, with their staff, a strong responsibility toward pet owners who trust them to provide the utmost care to their beloved pets. As in all medical environments, risks exist and must be managed.
We have reviewed below the key policies that you will need to consider in order to safely operate your veterinary clinic:
General and Professional Liability
This combination of general and professional liability insurance will cover the legal liability risks that your business operation may face (slip and fall, or a dog biting a client within your premises, etc.). It will also cover your company against a breach of professional duty and medical malpractice (wrong advice on the medicine, failure to diagnose a disease, negligence in taking care of an animal, etc.). Most importantly, it will cover the financial compensation requested by the third party and the legal expenses incurred in defending yourself against a claim.
Property and Business Interruption
All the physical or tangible assets of your clinic including equipment, stocks, building, etc. will be insured under the property damage insurance. The property damage insurance will cover events such as fire, natural disasters, theft, water damage and much more. Our property damage insurance includes a business interruption cover which will allow your company to maintain the same financial position after the loss, as it was before. It will be as if no loss was incurred. Business interruption will cover the loss of income and the ongoing fixed expenses of the company while activities are completely or partially suspended.
This is to cover your company against its liability to employees if they suffer bodily injuries at work. It is also called employees’ compensation (EC) insurance in Hong Kong where it is mandatory, or work injury compensation in Singapore. This coverage is also included in our package solution.
At Clema Risk Solutions, we understand the risks and challenges veterinary clinics are facing, and we have designed an insurance program accordingly. Each veterinary clinic insurance is tailored to your risks, offering comprehensive coverage at competitive pricing.