Policies and procedures govern the operations of your Provider Business. Because providers operate in disability and/or aged care, it’s particularly important to be proactive in managing risks. Even with well-considered risk management strategies, there is the potential for all kinds of things to go wrong and you need to be ready in unpredictable environments.
Here’s what a Provider Insurance can help you with:
- Provider business is highly customised. You may offer services that your competitors might not offer. Your service is fundamentally different, and how you deliver it includes the level of risk you face. Hence, your business insurance must cover what you need.
- The NDIS Quality and Safeguards Commission requires all Registered Providers to have insurance for public liability and professional purposes. You may need additional cover, particularly if you are providing services like complex clinical care.
- Insurance can protect you against significant business disruption. Unforeseen events can bring your business to a halt, but you can stay on top of bills to keep things running with insurance.
- Failure to secure insurance cover could lead to substantial financial penalties, lawsuits and even result in forced closure.
- In administering disability services, a lot of personal and sensitive client data may be stored. This makes it essential to have excellent computer security practices and to comply with privacy legislation, as well as to have cyber liability cover in case of breaches.
At the Heaven Care Group, we help Providers set up their business in every way!
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