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Liability Insurance for IC's - typing 24/7
Posted: Apr 12, 2010
Any ICs out there that have been told they have to carry "liability insurance" that also covers HIPPA breaches? I feel this job is costing me more money than I can make anymore. Plus, they tell me when I can and can't take off, when I have to work, etc. and even call me on weekends when TAT is running out and I'm off. Of course when I do take off, I don't get paid and am told I have to make the time up. What the heck? Anway, back on subject, anybody have the insurance and how much do you pay for it?
HIPPA - Annette
[ In Reply To ..]By law as of Feb 20, all ICs must carry liability insurance to protect us from suit in the event the company you work for is sued, say for instance (records getting out and info seen). You as an IC would be sued also. I got it thru my homeowners company for a fair rate (not sure of the amount) but this was also informative. Since I do this as a business from my home, the homeowners would not cover the cost of the computer if the house were to burn or a tornado tear it up, because it is a business. We must have the liability insurance or we would be out of work, with no computer. Hope this is helpful. Also as an IC, I am not told when I have to work, only that the work needs to be in by a certain time frame. Also if I want to take time off, I just get another IC to cover my work. I don't get paid naturally, but I do take off. It is my company and if they are abusing and telling you when to come to work and all the details as if you were a FT worker, then they are at fault and could be reported. Just as some companies try to pay hourly wages to a person that is termed salary according to the laws, they would be in trouble. Hope this helps.
HIPAA - workingmt
[ In Reply To ..]I apologize for nitpicking but I see it so often on this board - It is Health Insurance Portability and Accountability Act (HIPAA), not HIPPA.
We should think of another 'p' word, drop an 'a' and turn it into HIPPA LOL - Backwards Typist
[ In Reply To ..]That way, nobody would be making the mistake. Can we touch base with the government with that suggestion?
Just joking around.
Is everyone getting this through - Typing 24/7
[ In Reply To ..]a homeowner's umbrella. My insurance co says they won't cover this on my homeowners and that I have to get professional liability insurance and it is an addendum to that policy at $1500 a year.
This is correct. It DOES NOT go through your homeowners insurance - I used to sell insurance
[ In Reply To ..]What your insurance company is telling you is correct. The liability insurance that some of the companies are talking about making ICs getting is professional liability insurance aka errors and omissions aka E&O insurance. It does not, repeat DOES NOT go through a homeowners umbrella of any sort. If your insurance agent is telling you this, then you have not explained the type of liability insurance correctly or they are flat out lying to you. This type of insurance is only available through an insurance wholesaler or brokerage and it is a separate type of policy.
Now, having said that, I haven't seen any of this so-called legislation that is requiring ICs to carry E&O insurance. I am an IC and my MTSO has not said anything about this and they are always on the ball on this stuff.
The purpose of E&O insurance is to defend you if you get sued for making an error or an omission of some type that then causes harm to someone on the other end of your product. The very simple fact that MTs do not sign medical reports protects us from any type of law suit. The doctors have to sign off on their notes/dictations/reports. Their medical malpractice insurance requires it. Because the dictator signs off on the final product, he or she is verying that the information contained within is correct. Thus, if an error is indeed made, it is on the dictator to have read and caught it, NOT the MT.
Regular liability insurance that you CAN get through your homeowners umbrella covers people who are on your premises and get injured; if they slip and fall in your driveway or something like that. You always have a base liability amount for that type of coverage and you can certainly increase it if you feel the need. The coverage that will take care of the "stuff" inside of your house is the property portion of the coverage. This type of insurance is referred to as property and casualty. That's your basic homeowners or business insurance.
Let me repeat this: Errors and Omissions insurance aka Professional Liability Insurance is a completely different animal and you cannot get it through your homeowners policy.
If you have a company who is requiring that you get it, I personally would want to know exactly why and then quite frankly I'd tell that company to go pound sand.
I used to sell property and casualty insurance and I dealt with E&O policies all the time. I am very comfortable with this particular topic. If anyone has any questions, I'm happy to answer them if you want to shoot me an e mail.
HIPAA insurance - Typing 24/7
[ In Reply To ..]Guess I should have explained myself better. My company is saying I have to have insurance in case there is a HIPAA breach and we both get sued. I hear this is now required by law. My insurance co is telling me that this HIPAA insurance cannot be obtained through a homeowners policy but is a rider onto E&O insurance, which would run about $1500 a year.
No, you're exactly right. - I used to sell insurance
[ In Reply To ..]My problem is that I hear anecdotal stories that those of us who are ICs are now required to carry this, but NO ONE has shown me a copy of the actual legislation. Unless and until I see that, then no way no how am I ever going to purchase E&O insurance. If that ever does actually come into play, then I go find a job as an employee somewhere.
I still believe that, even in the case of a HIPAA breach, even if the MT is named individually in the suit, the MTSO's insurance would provide defense.
Ask your company to provide you with a copy of the exact legislation/ruling that is requiring this. No one else has been able to show it to me. I'm not entirely sure it exists, personally.
Your insurance company is telling you absolutely correct information. $1500 is about the standard for something like this.
Highly Irritating People Perpetrating Aggravation? - CrankyOldBroadOnTheBeach
[ In Reply To ..]or is it Highly Irritating Perpetrators (of) Asinine Aggravation?
Good one. I like your second suggestion. LOL (nm) - Backwards Typist
[ In Reply To ..].
Please read the post above about the Parade article and reporting. - IAMT
[ In Reply To ..]AND then report them to the Labor Board for being told you are an IC when you really are an employee if they have you working on a schedule.
I checked with my insurance agent and the errors and omissions insurance for an MT was quoted as $1500 a year as we are in a "miscellaneous category." I work now as an employee so didn't pursue other companies that are out there specifically for MT IC's. As I have a small cleaning company also and the business insurance on that is only $400 a year, would rather clean toilets than pay for errors the doctor dictates incorrectly (but evidently has no liability - and evidently neither does the facility) and all feel the last person in the process is held responsible for correcting all errors ????
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