Insurance for Medical Practices in Florida

Operating a medical practice in Florida is a complex endeavor fraught with various risks. These can range from professional liabilities and potential lawsuits to property damage due to unforeseen incidents, or even data breaches that compromise sensitive patient information.

The stakes are high, and the consequences of these risks materializing can be financially devastating.



This is where medical practice insurance comes into play.

A comprehensive healthcare provider insurance plan is not merely a legal requirement but also a critical safety net. It offers protection against these diverse risks, ensuring the smooth operation of the practice in the face of uncertainties, and allowing healthcare providers to focus on their primary mission - delivering quality patient care.

At Bellken Insurance Group, we understand the unique needs of medical practices in Florida. That’s why we offer some of the best insurance policies for medical practices that are tailored to your specific needs. Our comprehensive coverage includes protection from errors and omissions (E&O), professional liability, malpractice, property damage claims, cyber risks, and more.



Reach out to us today for more information and to get your customized medical practice insurance policy.

Any medical practice operating in the state of Florida should consider investing in a comprehensive insurance policy. This includes hospitals, long-term care facilities, home health agencies, outpatient centers, ambulatory surgery clinics, medical laboratories and more. Other businesses that may benefit from this type of coverage include:

• Physician’s offices
• Dentists
• Skilled nursing facilities
• Chiropractors
• Mental health clinics
• Physical therapy providers
• Optometrists and ophthalmologists
• Medical imaging centers
• Urgent care centers
• Diagnostic laboratories
• Mobility equipment suppliers
• Pharmacies
• Home health care agencies
• Hospice care providers
• Speech, occupational and physical therapy clinics.

The wide range of risks associated with medical practices means that there is no one-size-fits-all approach to insurance coverage. Depending on the type of service provided, Florida medical practice insurance plans may cover:

• Liability for negligence
• Medical malpractice
• Professional liability
• Third-party property damage and bodily injury
• Cyber liability
• Employment practices liability
• Product liability
• Business interruption
• Data breach and privacy protection
• Workers’ compensation insurance

Every business should assess their own unique situation and determine the specific types of coverage they need.

Medical malpractice insurance is a type of professional liability insurance that covers healthcare providers for claims arising from medical negligence or errors. Medical malpractice insurance is important for Florida medical practices because it protects them from the financial and legal consequences of malpractice lawsuits, which can be costly and damaging to their reputation. Medical malpractice insurance also helps ensure that patients who are harmed by medical negligence receive fair compensation for their injuries and losses.

According to the Florida Board of Medicine, medical doctors in Florida are required to maintain medical malpractice insurance or demonstrate financial responsibility in one of the following ways:

• Obtaining and maintaining professional liability coverage of at least $100,000 per claim, with a minimum annual aggregate of at least $300,000, from an authorized insurer or a surplus lines insurer;
• Obtaining and maintaining an unexpired, irrevocable letter of credit, established pursuant to Chapter 675, Florida Statutes, in an amount not less than $100,000 per claim, with a minimum aggregate availability of credit of not less than $300,000;
• Obtaining and maintaining a certificate of deposit, in an amount not less than $100,000 per claim, with a minimum aggregate of not less than $300,000.

Medical malpractice insurance acts as a safety net, allowing healthcare providers to focus on patient care without the constant worry of potential litigation.

Professional liability insurance is a broader term that covers health care providers for claims arising from their professional services or advice. Professional liability insurance may include medical malpractice insurance as well as other types of coverage, such as cyber liability insurance, which protects against data breaches and cyberattacks; or directors and officers liability insurance, which protects against claims involving management decisions and actions. Professional liability insurance is important for Florida medical practices because it provides comprehensive protection for various risks and exposures that may affect their operations and reputation.

Professional liability insurance is not mandatory for health care providers in Florida, but it is highly recommended as a best practice. Professional liability insurance can help health care providers avoid or mitigate the costs and consequences of lawsuits, regulatory actions, fines, penalties, reputational damage, and loss of income. Professional liability insurance can also help health care providers comply with contractual obligations or accreditation standards that may require them to carry certain levels of coverage.

General liability insurance is a type of business insurance that covers healthcare providers for claims arising from bodily injury or property damage caused by their premises, operations, products, or completed operations. General liability insurance is important for Florida medical practices because it protects them from the common risks and liabilities that any business may face, such as slip-and-fall accidents, fire damage, vandalism, theft, or third-party lawsuits. General liability insurance also helps healthcare providers comply with the law and avoid penalties or sanctions.



Operating without adequate liability insurance can increase the risk of facing major financial losses due to a lawsuit, regulatory action, or other unexpected event. Healthcare providers should make sure that their general and professional liability insurance coverage is sufficient to protect them from the specific risks and exposures that they may face.

Workers' Compensation Insurance is a critical aspect for Florida medical practices. This type of insurance plays a pivotal role in providing coverage for job-related injuries or illnesses, aiding in important benefits like medical expenses. According to Florida law, any business with four or more employees, whether full-time or part-time, is required to have workers' compensation insurance.

This legal requirement ensures that all employees are protected in case of any workplace accidents or incidents. The state sets the rates for workers' compensation insurance, ensuring fairness across all businesses. Medical practices benefit from this as it helps them manage potential risks and liabilities related to their employees' health and safety. Moreover, workers' compensation coverage can prevent medical practices from expensive lawsuits by employees, as it offers compensation for occupationally incurred injuries, regardless of fault.

Employment Practices Liability Insurance (EPLI) is of paramount importance for Florida Medical Practices. EPLI provides protection against claims made by employees alleging discrimination (based on age, sex, race, religion, etc.), wrongful termination, harassment and other employment-related issues. In the high-stakes, high-stress world of healthcare, these types of claims can arise, and without adequate protection, they could potentially bankrupt a medical practice.

The cost of defending even one alleged claim can be astronomical. EPLI coverage typically includes legal costs, settlements, and judgements arising from a variety of employment-related claims. Furthermore, many EPLI policies offer valuable resources like consultation services, HR assistance, and risk management consultative services.

Directors and Officers Insurance (D&O) plays a critical role in Florida Medical Practices. This type of insurance provides financial protection for the directors and officers of the practice against potential personal losses if they are sued as a result of serving on the board or working within the scope of their duties. It is particularly important in the healthcare sector due to the high degree of risk associated with managing medical practices, including regulatory compliance, patient confidentiality, and fiduciary duties.

D&O insurance typically covers legal fees, settlements, and other costs associated with claims for alleged wrongful acts, breaches of fiduciary duty, failure to comply with regulations, or reporting errors. While not a legal requirement in Florida, carrying D&O insurance is a prudent business decision. It can safeguard the personal assets of directors and officers, protect the reputation of the medical practice, and attract high-quality professionals to leadership roles by offering them this layer of protection.

Group Disability Insurance is a vital element of a comprehensive benefits package for Florida Medical Practices. This type of coverage provides financial protection to employees if they become unable to work due to illness or injury. Given the physical and mental demands of the healthcare industry, the risk of disability is significant. Group Disability Insurance provides income replacement, typically a percentage of the employee's salary, during the period of disability, ensuring stability for employees when they need it most.



For medical practices, this insurance not only protects their team but also contributes to a supportive work environment, boosts morale, and aids in the attraction and retention of top talent.