# STEP 8: Professional and Practice Insurance

**URL:** <https://hub.sadocs.co.za/t/step-8-professional-and-practice-insurance/297>\
**Category:** Private Practice Startup\
**Tags:** guide, private-sector, business, insurance, practice-startup, finances\
**Created:** [February 16, 2024, 8:25am UTC](https://hub.sadocs.co.za/t/step-8-professional-and-practice-insurance/297 "2024-02-16T08:25:31Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![SAdocs](https://hub.sadocs.co.za/user_avatar/hub.sadocs.co.za/sadocs/32/554_2.png) [@SAdocs](https://hub.sadocs.co.za/u/SAdocs)\
**Post date:** [February 16, 2024, 8:25am UTC](https://hub.sadocs.co.za/t/step-8-professional-and-practice-insurance/297/1 "2024-02-16T08:25:31Z")

</div>

![ice-cream-g1f327fb99_1280 jpg](https://hub.sadocs.co.za/uploads/default/original/1X/d10f0c6eb244234b36a04175559bda3c3ce0fd36.jpeg)

_Keep yourself covered._

Now that you have the building and its contents, it’s time to look at insurance. There are **2**  **types** of insurance to consider:

## 1. PERSONAL LIABILITY INSURANCE

### **a. Professional liability insurance.**

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  - Malpractice insurance.
    - In the event that someone files a lawsuit based on your medical management.

  - Indemnity insurance.
    - In the event that someone files a lawsuit based on a breach of professional conduct, e.g., breach of confidentiality.

  - It’s imperative that you get professional liability insurance before practising in the private sector at all.
  - Some **personal** professional insurance companies available:
    - MPS.
    - AON.

### 2. BUSINESS INSURANCE

#### **a. Building and content insurance.**

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  - 
    - In the event of theft, natural disaster, damage to property, etc.
    - HIGHLY recommended, if not compulsory.

#### **b. Product liability insurance.**

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  - 
    - In the event that someone files a lawsuit against your practice due to damage caused by your equipment, medication, or appliances, e.g., consequences from using expired medicines.

#### **c. Public liability insurance.**

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  - 
    - In the event that someone files a lawsuit due to an injury sustained from slipping or falling at your practice.

> _Since you might not need all of the above, we recommend that you start off by speaking to a reputable business insurance provider, preferably one that **specifically** caters to **private medical practices** , and hear what they have to say about what your practice would need._

🗨_ **Please contribute to this conversation by replying to this topic.** _