Insurance for Starting a Medical Billing Company

by Kay
(IL)

I am starting a Billing service company with some partners. What types of insurance would the company need to carry? I know basic small business insurance items but, is there other type for this industry?

Response:

I would recommend carrying what is called Errors and Omissions (E&O) insurance. This is basically a professional liability insurance for service businesses that protects you from claims of negligence or mistakes made by a client.

For a small business you can usually find an affordable policy that will provide adequate coverage along with the peace of mind in the event you need it.