Nurse malpractice insurance pros and cons

Many nurses never consider buying individual insurance because they have been assured that the health care system they are employed by will come to their aid. Do ALWAYS have malpractice insurance of some kind. Mid-level providers absolutely need to have insurance coverage for the work they do, but it can come in a variety of ways,” Michael Paul Ringwoo Esq.

Smith Sovik law firm of Syracuse, New York, who’s defended healthcare providers for the past years, tells Florence. Can nurses get malpractice insurance?

What is private malpractice insurance? Why is malpractice insurance important for nurses? Should nurses carry private insurance?

MANY MYTHS surround professional liability insur-ance for nurses , also known as nursing malpractice insurance. If you have your own insurance , you’re more likely to get sued. You can be sued only if you make a mistake.

Not having insurance did not protect them. Only one that I know of had a judgment against him, but it was still very costly and time consuming for nurses to defend themselves.

They say that I would be covered under my facility's nursing insurance and lawyer in the event of a malpractice suit involving me and that having insurance puts me at greater risk of getting sue should be uncovered that I am insured. Insurance will cover the lawyers fees and lost wages. Nurse malpractice insurance typically starts at around $per year. That sai the actual cost of your policy will depend on a number of factors, including your years of experience, education, state(s) in which you work, and time spent on the job.

However, unlike surgeons and physicians, not all nurses carry nursing liability insurance as many of them largely depend on employer’s policies without realizing that it isn’t always enough. It can even cover a nurse during retirement. Claims coverage protects nurses only during the life of the policy.

While occurrence-based coverage seems like the best option, it tends to be more expensive. NSO malpractice insurance for Nurses. Maintaining your own malpractice insurance is definitely another way to avoid personal devastation should you be named in a malpractice case. Medical malpractice can be defined as a wrongful act by a physician, nurse , or other medical professional in the administration of treatment, or the omission of a needed and reasonable medical treatment.

MYTH: You don’t need your own insurance because your employer’s policy covers you. Most nurses who rely on employer coverage alone have never seen the policy or asked about the scope of coverage. This type of coverage helps pay for any judgment or settlement in a legal claim and pays for defense legal costs, up to the limits of the policy.

Professional liability insurance typically pays for a defense attorney and any settlement or judgment against the nurse , up to the policy limits. It also, depending on the policy, will often cover licensure defense, if the nurse is reported to the board of nursing.

A lot of myths keep nurses from getting malpractice insurance ,” Mackay added. Some general comments can be made here, but the decision to carry your own professional liability insurance is one you will need to make yourself. Checking with your nurse practitioner colleagues would be a good initial resource to explore.

When you need professional liability insurance there is a very simple solution. As a nurse , you work hard in your career and the care and treatment of your patients. A disciplinary action or malpractice lawsuit can have unforeseen consequences on both your career and financial future.

While you may have professional liability insurance ( malpractice insurance ) through your employer, there may be limitations and you may not be fully protected. Your own individual insurance covers you beyond the limits of your employer provided plan. Working as a Nurse Practitioner, I was sued by a non-compliant patient. From the moment I notified them of my lawsuit I felt protected and supported.

You owe it to yourself to have your own coverage. Get Instant Quality Info!