[sirI]

If there is a lawsuit- hospital insurance company covers employees actions- that is what the insurance is about.

That is not entirely correct. If the nurse is within SOP/SOC as well as hospital P/P, then it is almost a given the hospital insurance, attorneys, etc., will be adequate. But, if not within these, the nurse will not be represented and must seek own representation.

And, this is also something to consider........

All malpractice insurance policies have limits of liability. Other defendants employed at (your) entity may and probably do share (your) liability limits under the same policy. If (you), as well as others, are named in a suit, (your) legal costs, including any settlement, could exceed (your) employer's shared liability limits. This would mean out-of-pocket expense(s) for (you).

Again, it is a personal choice, but I do try to personally educate the nurse and nursing student and advise carrying liability insurance.

As my signature states, wouldn't practice w/o it. Never have, never will.

[nursemike]

I'm an habitual procrastinator, and this thread has prompted me to get on the phone and get my coverage renewed. While the possibility does exist that my interests and my insurers may not always coincide, I still have the option of hiring my own counsel, should the need ever arise, and in my estimation the potential for such conflicting interests between me and my employer is far greater.
I have a lot of confidence in my facility and my supervisors, right on up to the CEO. I truly believe they are honest, ethical people who would not lie or cheat. That's saying quite a lot. But I'm not saying that if a gray area arose where liability was not clear cut, they would fall on their swords to make sure I was protected.
Lawsuits are not always contests between greedy plaintiffs and deceitful defendants. Sometimes decent people disagree about what is right. I'd be delighted to live my life without ever participating in a lawsuit. I managed to do that for 25 years as a home improvement contractor, so I don't think I'm unrealistic in that hope. But I'm in a high risk field where bad outcomes aren't rare, even when no wrong is done. Professional liability insurance brings another party into the case who has reason not to want me to get taken to the cleaners. It's a bargain.

[Nurse4years]

[quote=sirI;2777581]

That is not entirely correct. If the nurse is within SOP/SOC as well as hospital P/P, then it is almost a given the hospital insurance, attorneys, etc., will be adequate. But, if not within these, the nurse will not be represented and must seek own representation.

And, this is also something to consider........

All malpractice insurance policies have limits of liability. Other defendants employed at (your) entity may and probably do share (your) liability limits under the same policy. If (you), as well as others, are named in a suit, (your) legal costs, including any settlement, could exceed (your) employer's shared liability limits. This would mean out-of-pocket expense(s) for (you).

And, this is not entirely correct, and the misconceptions continue to put $$ in the pockets of insurance companies and lawyers. But, there are many other threads addressing this.
I believed the same until I actually worked for years in the legal med/mal field. But, I will graciously agree to disagree.
(It is a pet peeve of mine to see the insurance propaganda-making money off hard working people.)

[sirI]

Yes, we will have to respectfully agree to disagree, Nurse4years.

[onyx77]

I just looked at NSO.com. My question now is, what coverage would you suggest? Is it necessary to get coverage for 1,000,000?

[rouxlucitt]

Originally Posted by elk007

What is the best way to go about getting insurance? How much coverage should a graduate nurse carry?

How about NONE! If you don't have any insurance people will not be going after you to try and get money. That is what it is all about in the end. So simply... don't!

[rouxlucitt]

Originally Posted by onyx77

I just looked at NSO.com. My question now is, what coverage would you suggest? Is it necessary to get coverage for 1,000,000?

Absolutely not! I do not recommend ANY insurance! We live in a sue-happy society. If you have no money they will no go after you! If you do, you open yourself so silly lawsuits!

[onyx77]

Originally Posted by Rouxlucitt

Absolutely not! I do not recommend ANY insurance! We live in a sue-happy society. If you have no money they will no go after you! If you do, you open yourself so silly lawsuits!

I have assests that I would like to keep! We are building a new home and we plan on living in it for the rest of our lives - thus, we want to keep it! People are going to sue no matter what! I'd rather be covered than loose everything I have.

[sirI]

Originally Posted by onyx77

I just looked at NSO.com. My question now is, what coverage would you suggest? Is it necessary to get coverage for 1,000,000?

Individual choice. I have 1/6 and always have carried that.

Good to see that you are considering this. You are being wise.....

[Nurse4years]

Originally Posted by onyx77

I have assests that I would like to keep! We are building a new home and we plan on living in it for the rest of our lives - thus, we want to keep it! People are going to sue no matter what! I'd rather be covered than loose everything I have.

Litigation costs thousands of dollars, coming out of the attorneys pockets, and takes years. They don't go after the average working joe- no money in it. They go after insurance money. That is the system.
Insurance money...money from insurance...lots and lots of money-
-and it involves a big system of malpractice lawyers, hospital lawyers, insurance lawyers, and in this system all of those lawyers make lots of money.
Malpractice insurance companies have their own lawyers to protect THEIR money. How could anyone possibly believe that for the meer price of 100$ a year-he/she would have their own personal counsel to defend him/her against the baddies? 100$? A law firm at your disposal?
If you believe that, then you also say things like "I wouldn't let them settle- I would demand they take it to court". (love that one)
This is a dance they do-(called for jury duty? tell them you have worked for attorneys- they don't want you- you know the dance.)
It is a very different situation than people know- thanks in extremely large part to propoganda from insurance companies and attorneys.