Even the most highly skilled and competently trained aesthetics practitioners can be at risk of being sued if there is a complication or issue with a treatment. Something as simple as a client moving at the wrong time, or an accidental slip can have serious repercussions, so indemnity insurance is a must to keep you and your business protected.
What is indemnity insurance?
Professional indemnity insurance is a type of insurance that is designed to protect businesses against a variety of risks. Any business or professional who offers a type of service that could result in being sued if a client is unhappy with their service, should take out professional indemnity insurance.
In the aesthetics industry, as well as the possibility of accidents happening, there is a chance that clients can have allergic reactions to the treatment that you provide, which is another possible suing scenario. Without professional indemnity insurance, if you were sued for a large sum of money, it could likely to result in your business going into liquidation as you might not be able to afford the compensation and solicitor’s fees.
A medical malpractice or negligence claim against your business can be financially devastating, on top of the bad publicity you may get alongside it if it is made public on social media or by word-of-mouth. Therefore, for peace of mind, taking out indemnity insurance is highly recommended even if it is not a legal requirement at this point.
Depending on the severity of the claim, the compensation and legal fees could run into thousands of pounds and possibly even more, so indemnity insurance would cover those costs, in the event of the court ruling that your business must compensate the client.
Training with SkinViva
It is easy to arrange your indemnity insurance, once you complete your training course with SkinViva, we are a recognised training provider of the specialist cosmetic treatment insurers Hiscox, Hamilton Fraser and Cosmetic Insure. It is important to check that all of the treatments that you provide are covered under the indemnity insurance policy that you take out, as this can vary across the different types of insurers.
If you start providing any new treatments in the future, you should always check with your insurer that it will be included under the policy, or you may be able to add it or may need to switch to another insurer.
When you complete training courses with SkinViva, we explain in detail why it is important to set up the right level of indemnity insurance and we can provide guidance on getting it set up correctly.