One basic thing that nursing schools do not teach is protecting yourself against a lawsuit. Typically, doctors and physicians carry professional liability insurance and as a nurse, you can even get a customized plan to protect yourself and your assets in times of need.
No matter which state you belong to, there is a quality nursing malpractice insurance plan that will meet your needs within the specific budget. You can even find professional brokers who can assist you in finding the most suitable plan. As they have more knowledge, agents understand the intricacies and minute details of buying insurance.
Why Do Nurses Need Insurance?
Nurses have significant responsibilities as a medical practitioner, caring for the patient. You would be required to diagnose, give medications or refer them to doctor or specialist. Typically, you can find them in hospitals, clinics, emergency care and in-clinic pharmacies. Due to their versatility, nurses are more at risk for malpractice claims.
If you fail to analyze, monitor or effectively respond to symptoms, you may face a legal charge. In addition to that, if you fail effective communication with the doctor or get required emergency care, you may be liable for a malpractice claim.
Even if you are working with a renowned organization, you are prone to face lawsuit claims, even if you were following all the codes of conduct. Your employer may offer professional liability coverage, but do not assume it will provide the entire protection in times of need.
Whether you are the only individual or a part of group of practitioners named in a lawsuit claim, the cost is far greater, posing a great risk to your profession. If you have to pay an out-of-court settlement, the financial burden on your pocket could be high, especially if the employer-sponsored liability is limited.
In some cases, there is a conflict of interest between your employer and the insurance company. Ultimately, they will protect your employer before providing adequate coverage to you. Due to this, you need a private nursing malpractice insurance policy.
What Type Of Nursing Liability Insurance Do I Need?
The insurance type is dependent on numerous factors:
- The place you work
- The services you offer
- The amount of coverage your employer offers
- The time period with the current organization
Ideally, your individual plan should be providing $1 million coverage on a single claim. It will usually cover the gap between employer coverage and personal coverage. However, before setting up the limit, thoroughly read the employer’s policy to ensure there are no major gaps.
This amount is safe to start with but a lengthy legal proceeding may go way beyond the coverage limit, which you will be responsible to pay off from your pocket. You can speak with an independent agent to assess your needs and buy a plan accordingly.
Get the adequate nursing malpractice insurance at Advanced Professionals, where you can find insurance agents who can guide you through the process. They will also compare various policies with you to get the one that best suits your needs and limited budget.