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Top Business Insurance Products All Medical Practices Need

As business owners, physicians should have a general understanding of how to protect their practices and themselves from various types of financial risks, in addition to those associated with medical malpractice liability.

Where do you start? What kind of coverage does a physician need? What should the limits be? How much will it cost? Who is a good source for help?

Start with an evaluation of your current business insurance coverages to ensure they are tailored to the specific needs and size of your medical practice.

Here are the essential business insurance programs you should consider adding to your portfolio if you are not currently covered:


Business Owner’s Policy (BOP)

Combines a wide range of liability and property coverage into a package that is typically less expensive than purchasing the coverages individually.


Workers’ Compensation Insurance

Protects you against lawsuits, fines, and penalties stemming from workplace incidents.


CyberRisk Liability Coverage

Provides additional protection above the $50,000 of protection you automatically receive as a CAP member to cover the high costs associated with dangerous cyberattacks.


Coverage for Medical Consultants

Offers protection from errors and omissions that may occur when performing duties outside of regular patient care, such as reviewing medical records for insurance companies, engaging in nonprofit work, evaluating criminal cases, or performing peer review.


Telemedicine Coverage for Patients Outside of California

Your medical malpractice coverage through CAP includes telemedicine for services provided to patients in California. If you are currently seeing and treating patients virtually outside of California, extra medical professional liability coverage is important for you to have.


Employment Practices Liability Insurance (EPLI)

EPLI covers the defense costs of lawsuits brought by employees, former employees, job applicants, or other third parties alleging discrimination, wrongful termination, or harassment, among other claims.


These products are brought to you by Symphony Health, a division of Symphony Risk Solutions. Symphony Health is CAP’s preferred provider for your business and personal insurance needs, supplementing your medical malpractice coverage from CAP. Members have access to licensed professionals who can provide personalized assistance with a wide range of essential insurance coverages all in one place at competitive rates.

To learn more, email or call 800-819-0061.