PROTECTING NATUROPATHIC PHYSICIANS

FREQUENTLY ASKED QUESTIONS

How do I choose my limits of liability?

Answer

To determine the amount of coverage you need, several factors need to be considered:

  1. Think about the amount of money an injured patient may require.
  2. Check with any health insurance provider networks in which you participate. Many network contracts require participants to maintain a certain limit of liability. This is also true of some state statutes, so be sure to call your state licensing board and inquire about your state. If you have an employer or employment contract, determine if they have minimum requirements, as well.
  3. Keep in mind that low limits may prevent a successful outcome. Lawsuits often entail negotiation and compromise, and if your policy limit is inadequate, it may negatively affect the ability to reach an acceptable result.
  4. Consider the possible impact on your personal assets.
  5. Meet with your attorney or business advisor. He or she can help you determine the amount you need. Remember to reevaluate your limits each year to make sure it continues to be the right amount for you.

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