We are often asked what the professional liability insurance policy
that is issued covers (after a review of the injectable services application)
The applications that are reviewed prior to issuing these policies are completed by our doctors, nurses, physician assistants, registered nurses and aestheticians. They are all protected for these specific services as outlined :
Essentially the question is: how do I know that I’ve purchased the right professional liability policy to protect me for performing aesthetic injectable (Kybella, Sculptra, Restylane, Botox) The answer is that these underwriters specialize in this class of risk:
The policies that cover these services are in the MediSpa Professional Liability Insurance
So, the policies will be written on a Medical Professional Liability Policy that contemplates the MediSpa niche)
The quote may include something called the rating basis:
(which is pretty intuitive, it basically describes the variables that go into rating the policy and informing the coverage.
The policy will include further definitions on the quote and/or declarations pages.
It might say: Coverage details:
Rating Basis includes a brief definition of the services covered:
Rating Basis: the MD, NP, PA Performing - Injectable Services
These are very specific, smart targeted professional liability policies.
The quote goes on to define :
INJECTABLE SERVICES: Means the injection of Botox, Dermal Fillers, Vitamins/Supplements, Sclerotherapy, Carboxy Therapy by a technician within their State, County and City Regulations.
The policy might also include more descriptions (that further define this coverage as the right policy (as opposed to a broad and non specific professional liability policy)
Program outline: Coverage for specific services and procedures that are considered cosmetic in nature. No coverage is offered for remedial work or for general medical services outside those specifically offered.
This kind of professional liability policy are custom-written to match (or protect you from claims arising from..) services that you are providing.These services you are providing are described in your application, and that application becomes part of the legal contract directing the coverage.
Additionally, you can include an email narrative describing services that you have added subsequent to submission of the application and that you would like to include –
i.e., as you suggested here, : You might practice in people's homes and spas…just have to confirm that (and, if it is a spa, include the address):
There is actually an endorsement that can be included on the policy called a : No location restriction endorsement which may result in a slight additional premium increase. The Doctors Insurance Agency specializes in this kind of insurance. We have been writing MD Med Malpractice policies protecting plastic surgeons, ear nose and throat, cosmetic doctors,cosmetic surgeons, dermatologists and many others over the years.
When these doctors decided to start doing aesthetic elective procedures, we often had to find separate policies to protect their medical malpractice policy and their specific claims experience from these types of aesthetic procedures and the claims that might flow from them.
The premiums can range from $1,500 to $15,000 annually depending on the number of professionals covered under the policy and the breadth and frequency of procedures.