When purchasing your dental practice you need to ensure that it is as comprehensively protected as possible. In the event of a major incident the very existence of your business could be under serious threat.
You will typically need to ensure that you are covered for the following:
Insured events should include (but not be limited to):
Statutory & Regulatory Insurance Requirements
There are several key areas of cover that are statutory requirements and as such, these are also CQC requirements and often the Care Quality Commission will want to ensure these covers are in force or will be in force upon completion of the practice purchase. These include:
It is often possible to incorporate most of these covers within a single, especially tailored Practice Insurance policy.
You will typically need to ensure that you are covered for the following:
- Buildings/Tenants Improvements (depending on whether the practice is freehold or leasehold)
- Contents
- Computers
- Loss of gross revenue (known as Business Interruption cover)
- Computers
- Loss of gross revenue (known as Business Interruption cover)
Insured events should include (but not be limited to):
- Flooding
- Escape of water
- Subsidence
- Storm
- Theft
- Accidental Damage
- Fire
Statutory & Regulatory Insurance Requirements
There are several key areas of cover that are statutory requirements and as such, these are also CQC requirements and often the Care Quality Commission will want to ensure these covers are in force or will be in force upon completion of the practice purchase. These include:
- Public Liability
- Employers Liability
- Pressure Vessel Inspection Cover
It is often possible to incorporate most of these covers within a single, especially tailored Practice Insurance policy.