We already are facing a major shortage of medical professionals. What is Medical Malpractice and How Does It Affect a Nurse? Your Experience with Coronavirus (COVID-19) Matters, Reducing Health Disparities in Underserved Communities, © 2020 Springer Publishing Company | Privacy Policy, Rachel Oliver is a freelance writer from Florida, who loves to write about topics like personal injury law, automobile accidents law, and medical negligence law. This may result in minor to severe injury or even death of the patients in some cases. Unbiased analysis of their effect, however, is in short supply. Let’s see why you should consider having nurses’ liability insurance just like any other medical professionals. Since that time, there has been a consistent ebb and flow of debate about the pros and cons of medical malpractice reform, with some arguing in favor of alternatives. Your email address will not be published. Beyond this basic coverage is professional liability coverage. Pros One of the pros is that the insurance covers personally for a nurse an area where most organizations don’t. Maintaining your own malpractice insurance is definitely another way to avoid personal devastation should you be named in a malpractice case. However, most of my coworkers are uninsured and question why I even have it. Having your own policy not only covers you but also provides peace of mind during the most stressful times of your professional life. Nursing insurance would most likely be a waste of money for you, because you should already know all of the protocols like the back of your hand. My FNP liability insurance … If you’re considering different medical malpractice insurance options, you might wonder about occurrence vs. claims made malpractice insurance. But before that, let’s discuss what medical malpractice is and how it can affect your career. At times, it may even result to out-of-pocket expenses. If you are getting sued as a nurse for $800,000, and the hospital covers 90% of the cost and you get to keep your nursing license (best case scenario), you still would owe $80,000 out of pocket. It is important to consider your personality, financial situation, experience as a nurse, experience within the specific type of unit, etc. A question I frequently get asked from student pharmacists and my fellow New Practitioners alike is “Should I carry my own liability insurance?” In this article, I will highlight areas where professional liability is necessary, and the pros and cons of carrying it. Pros to Having Nursing Malpractice Insurance: Firstly, it is important to understand what malpractice insurance offers that the health care system’s lawyers do not. There are pros and cons of having individual professional liability insurance. This will only be revealed after the plaintiff had filed a lawsuit against you. Not having an individual liability insurance has benefited nurses in the past. Nurses and nurse practitioners benefit from malpractice insurance — and in many cases, such a policy may be very affordable if there is already coverage under an employer’s policy. Like any other type of optional insurance, nursing malpractice insurance can be very appropriate for some people, and a total waste of money for others. Nursing malpractice insurance is not something that is frequently talked about in hospitals, and it is likely that you don’t know which of your colleagues are and aren’t insured. 2”Nurse Professional Liability Exposures: 2015 Claim Report Update,” NSO, CNA, www.nso.com, 2015. But Nurses Are Still Uninsured Besides, your individual medical malpractice insurance covers legal fees and expenses that you need to incur when fighting against the BON. A person (the doctor, nurse, care provider, or any other medical professional) who is responsible for a duty of care, Bodily damage (including injury and/or death) of the patient due to the lack of appropriate care. The Nurse Practitioner: 2005 - Volume 30 - Issue - p 21 If you need a reminder why professional liability insurance is important, just spend a couple of minutes with a commercial insurance agent who will be happy to regale you with anecdotes of the horrors of practicing uninsured. Their names were often dropped out of a lawsuit as they lacked the deep pockets unlike surgeons, physicians, and hospitals. Then again, are you a very organized person, or are you the type of person that whirlwinds around the floor in a chaotic fashion?

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