Facility Insurance Requirements for Staffing Agency???Register Today!
This is a discussion on Facility Insurance Requirements for Staffing Agency??? in Entrepreneurs in Nursing, part of Nursing Specialties ... I am starting up my own agency, finally, and I'm close to opening my doors. One of the few things...by Carlitos Jul 12, '08I am starting up my own agency, finally, and I'm close to opening my doors. One of the few things I have left to do is research insurance requirements. I was wondering if anyone here can give me a ballpark figure of what hospitals generally require in terms of coverage. Specifically, I'm looking for Per Incident and Aggregate coverage for professional and general liability insurance, as well as the insurance ratings required by hospitals. Any other information you think will be helpful will... ummm... be helpful.
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- Jul 14, '08 by RN1989Check out NSO. They have online info and quote form for business owners. Staffing agency is one of their listed businesses.
- Jul 26, '08 by NedRN1/3 million professional liability, 1/1 general liability. Currently my NSO/HPSO policy is providing 1/6 professional liability standard. Presumably that means that that level is not an unusual hospital requirement.
- Jul 31, '08 by CarlitosThanks, NedRN! That is what I was expecting. For some reason, though, all of the quotes I've been recieving are for 200/600k. I figured since they specialize in insuring staffing agencies, they would have quoted me on the 1/3M policies. When I asked NSO about higher limits, they told me they don't provide policies with higher limits, but that they would forward me to Affinity Insurance (?) who does. I have yet to get in contact with them.
Interestingly, I did some reasearch and found that, here in Texas, legislation has placed caps on malpractice suit damages to $250,000. I'm wondering if that has something to do with the quote limits I'm recieving.
NedRn... what state are you in, and do they have similar caps?