Business Entities

Corporations, Group Practices & Nonprofits

If you have formed a corporation, LLC, or nonprofit, it is important that the corporate name is protected under your insurance policy. Apply for a corporate policy that will protect your business, its owners, w-2 employees, and volunteers providing services for the business.

Corporate policy rates are calculated based on the number of people in the business as well as the licenses and occupations held by the providers. Your policy can be effective as early as the day we receive your application, and we will underwrite and process a quote within 1-2 business days. Payment is due within 30 days of your effective date.

Benefits of Corporate Coverage

Whether you operate a one-person LLC or large corporation, it’s important to adequately cover your business entity with corporate coverage.

• Why do one-person businesses need to apply for corporate coverage?
  If a claim or lawsuit arises from your professional services, it’s possible for your business entity to be named in the lawsuit. An individual policy will not provide any coverage for your business entity for claims, incidents, or lawsuits arising from your professional services.
• Will a policy under my individual name cover my business if I’m the sole owner?
  No, an individual policy will only cover you as an individual provider and does not cover your business entity, even if you are the sole owner or employee.
• Can I simply add my business as an additional insured on my individual policy?
  No, you cannot add a business entity you own or operate as an additional insured. You must upgrade your policy from individual to corporate coverage in order to appropriately cover your business entity.
• Will having corporate coverage change my premium?
  Corporate coverage is rated differently than individual coverage, but does not always guarantee there will be an increase. Your corporate application is subject to underwriting review.
• Are W-2 employees covered by the corporate policy?
  W-2 Employees are automatically covered by the business entity policy. A business entity policy extends blanket coverage to all W-2 employees, both clinical and administrative, who are providing services on behalf of your business. Employees do not need to carry separate malpractice insurance coverage unless they are providing services outside of your business. All W-2 employees must be listed in your application.
• Are independent contractors covered by the corporate policy?
  Independent contractors are not covered by the business entity policy. The business entity policy includes vicarious coverage for claims/suits brought against the business for the contractors’ services; however, contractors are required to maintain their own separate malpractice insurance.