Some electrologists say they pay for malpractice/liability insurance. Do states that regulate electrolysis require malpractice insurance? In states where electrolysis is not regulated, why would insurers even cover electrology services?
Do most electrologists skip on malpractice coverage because lawsuits are generally unheard of anyway? I don’t remember a single case of electrology malpractice case being discussed.
I know EmancipatedElect operates in new york, which doesnt have electrology licensing, and pays for malpractise/liability insurance. I think you can get most things covered whether they are regulated or not, if you are willing to pay the coverage costs. I dont know if most electrologists want to talk about claims about their business, which is why you wouldnt have seen it discussed here .
Seana
As Seana pointed out, I’m in NY, where electrolysis is completely unregulated. I carry a pretty comprehensive insurance policy that includes malpractice, liability, equipment damage, theft, business interruption, etc. My malpractice insurance requires clients sign an informed consent form. Sure, it costs me a little money, but not too much (I pay more for my homeowner insurance), and, along with my LLC, helps shield my personal assets should something happen (I’m more worried about a slip and fall in the parking lot during the winter than an actual malpractice suit). Given how litigious Americans have become, I think anyone running a business that doesn’t carry some insurance is probably foolish.
The insurance companies have some minimum standards of what they expect from you if they are going to cover you (primarily, how much training you have had). Somewhere, there’s an actuary that looked at the cost of being sued, the likelihood of actually being sued, etc and set a standard and price point where the insurance company can successfully settle the expected number of claims and still make a profit. Depending on the determinations of the insurance company, it’s possible that more training, experience and/or licensing could lower the odds of being sued and, thus, lower the premiums those people that meet higher standards.