Is Your Corporation Covered?

Entity Coverage Helps Keep Risks at Bay

Insurance

Is your Corporation Covered?

If your practice is set up as a corporation, it's important that you have the right coverage. NCMIC's client representatives are available to help you identify and manage your malpractice risks, including any resulting from the incorporation of your practice.


A few years ago, I went through a reorganization of my real estate business. It was a learning process. One thing I learned is that my insurance may have covered me, but not my corporation. I needed to contact my insurance agent and make some changes to the policies.

That got me thinking about malpractice insurance for the chiropractors served by NCMIC.

If your practice is a corporation (or a PC, LLC, PLLC, LLP, PA or other partnership), let NCMIC know so we can put the proper coverage in place for you. When your corporation is added to the policy, you and the corporation share the limits of liability on the policy.

For example, if you and your corporation are named in a malpractice action, and you have limits of $1 million per occurrence and $3 million aggregate, you and your corporation will share the $1 million for the claim.

You can also add separate limits for your corporation for an additional premium. In the example above, you would have $1 million and your corporation would have an additional $1 million for the claim. You essentially are doubling your coverage.

Issues like this really hit home the importance of working closely with your insurance advisors. NCMIC's client representatives are available to help you identify and manage your malpractice risks, including any resulting from the incorporation of your practice.

Learn more about corporate/entity coverage.


The information in the NCMIC Learning Center is offered solely for general information and educational purposes. It is not offered as, nor does it represent, legal or professional advice. Neither does this information constitute a guideline, practice parameter or standard of care. You should not act or rely upon this information without seeking the advice of an attorney familiar with the specific legal requirements of the state(s) in which you practice. If there is a discrepancy between the site and an insurance policy you have with NCMIC, the policy will prevail.