Personal malpractice insurance....yes or no? - page 6

We had this discussion at work the other day. One of the points against it was that lawyers will go for the person(s) with the most malpractice insurance. Also I know, I've been told that the... Read More

  1. by   Havin' A Party!
    Quote from JBudd
    ... Everyone whose name appears anywhere in the chart gets named around here...
    Agree with the sentiment.

    Only correction I'd make is to say: Everyone whose name appears anywhere in the chart is a potential defendant, subject to an asset check. (See my previous post.)
  2. by   mscsrjhm
    Quote from LarryG
    Agree.

    So if you own a house and /or vehicles and / or investments, then get the insurance.

    If you have nothing of value (including a job that doesn't pay you much), then don't.


    I refer you to Huffman's post:


    Is $100 (more or less) a good deal if it's not needed?

    If nurses "feel better" having malpractice insurance, buy it. But realize it's simply a form of therapy.

    Remind yourself: nurses just don't get sued very often. Oh, it happens on a very, very rare basis, but the reason it's "so reasonable" (as we are reminded all the time) is simply because it doesn't happen. Statistically speaking, it's not going to happen to you. Ever. Even if you are unfortunate enough to have bought malpractice insurance.

    Attorneys get paid (in almost every such case) a percentage (usually 35-40%) of the final settlement. No attorney in her right mind is going to come after a nurse who doesn't have malpractice insurance because it simply isn't worth it. Why bother? The attorney isn't doing this as a cause: she's hoping to make some money from it.

    Such trials often require months or tedious, expensive preparation. Then there's the trial itself, complete with the attorney having to shell out money for expert witnesses, and other such fees. Don't make yourself inviting to such attorneys. Malpractice insurance is an open invitation.

    As for the fear of garnishing of future wages, let's put this in perspective. Let's say you have a minimal net worth. You're telling me an attorney is going to salivate at the prospect of a judge ordering a garnishment of -- say -- $100 a week -- against your wages for the rest of your life to pay off the -- let's pick a number: $500,000? -- settlement we're hypothetically talking about? What are the chances you as a nurse will sit still for this? What are the odds you will simply declare bankruptcy, and go on with your life? The attorney is no fool. There are other fish to fry.

    Jim Huffman, RN
    __________________

    This gentleman knows what he is talking about.
    Isn't it odd that nurses ask for and receive advise from experienced nurses regarding medical issues, but won't listen to any learned advise regarding other issues?
    Isn't is also odd that, with all of the threads regarding malpractice insurance, no one has come forward and said "An attorney took my house, my car, and my 401k?"
    This is because.... IT DOESN"T HAPPEN.
    With all of the years of experience from thousands of nurses at this site, NO ONE has lost their home...
    But, some have been included in suits involving their malpractice insurance.
    Again,
    I am angered by a system that exploits fear.
    Save yourself time, stress, and money. Just say No to malpractice insurance.
    Mschrisco
  3. by   MichaelSSSS
    Can you have more-than-one policy for extra protection?
  4. by   Jay Levan
    I am very surprised that anyone would think that their hospital would cover them in the event of a lawsuit, after all the horror stories that I have read(Not Heard) Case in point; lawsuits are directed at Hospitals first, Doctors second, and Nurses third, there is a pool of funds for lawsuits held sort of in escrow and guess who gets the benefit of the least amount of that account?? That's right the Nurse, and often if there isn't enough to go around the nurse has to fend for themselves, do some research and you will see of what I speak
  5. by   Havin' A Party!
    Quote from Mschrisco
    ... No attorney in her right mind is going to come after a nurse who doesn't have malpractice insurance because it simply isn't worth it...
    Total generalization.

    Don't incorrectly think all attorneys are making over $100 K.

    Again, if you're judgment proof, then no attorney is gonna throw away good money after bad. But if you've got assets, watch out baby... you're fair game.
  6. by   mscsrjhm
    Quote from LarryG
    Total generalization.

    Don't incorrectly think all attorneys are making over $100 K.

    Again, if you're judgment proof, then no attorney is gonna throw away good money after bad. But if you've got assets, watch out baby... you're fair game.

    (J. Huffman, RN... Could use a little help here... How do you explain to people how much it would cost the average attorney to go after a working joe's assets? And that they would never get a return.
    Asking for help because Huffman has a great way with words.)

    Larry G,
    We are not talking about rich attorneys. Any civil suit costs money. The attorney has to decide if the end justifies the means.
    Suing an individual, the end never justifies.... unless that person is Bill Gates. (Then it would be even more difficult and expensive)
    When an attorney sues, money goes out, but none comes in for a long time. Poor attorneys cannot afford to go that distance.
  7. by   mscsrjhm
    Quote from Jay Levan
    I am very surprised that anyone would think that their hospital would cover them in the event of a lawsuit, after all the horror stories that I have read(Not Heard) Case in point; lawsuits are directed at Hospitals first, Doctors second, and Nurses third, there is a pool of funds for lawsuits held sort of in escrow and guess who gets the benefit of the least amount of that account?? That's right the Nurse, and often if there isn't enough to go around the nurse has to fend for themselves, do some research and you will see of what I speak
    Jay,
    Read the whole thread. Hospital's don't cover... the insurance does. Different ball game.
    The pool of funds... I admit I have never heard of this. Trust me, if there were money other than insurance... attorney's would find a way to get it. Also, the hospital's WANT you to appear like the perfect nurse...
  8. by   Havin' A Party!
    Quote from Mschrisco
    ... Suing an individual, the end never justifies.... unless that person is Bill Gates...
    Whaaaaaaaa?!?

    No offense, but that's totally nuts.

    Lots of companies sue individuals.
  9. by   mscsrjhm
    Quote from LarryG
    Whaaaaaaaa?!?

    No offense, but that's totally nuts.

    Lots of companies sue individuals.
    No offense taken bacause, apparently, you are not talking about malpractice anymore?
    Companies do not sue individuals unless there is gain. That gain might be publicity, affecting issues long term (again, publicity), or money.

    To say "lots of companies sue individuals" isn't quite correct. Or, I might not understand what you are saying. Could you explain it?
  10. by   Havin' A Party!
    Quote from Mschrisco
    ... Companies do not sue individuals unless there is gain...
    Almost, but not quite, right.

    Talking about bucks strictly, if the net benefit meets / exceeds the pre-established gain threshold, they'll sue. (Applies to malpractice specifically, but generally also to any financial context.)
  11. by   mscsrjhm
    Quote from LarryG
    Almost, but not quite, right.

    Talking about bucks strictly, if the net benefit meets / exceeds the pre-established gain threshold, they'll sue. (Applies to malpractice specifically, but generally also to any financial context.)
    Don't know about net/gain. Do know that attorneys will not spend thousands of dollars on "maybe's"
    Suing individuals who are making house payments, car payments, etc.. isn't something attorneys do.
    Many nurses have misconceptions about the legal field, and what is done in lawsuits.
    The real truth is that attorneys are not "going after" individuals. No money in it.
  12. by   Havin' A Party!
    Quote from Mschrisco
    ... attorneys will not spend thousands of dollars on "maybe's"... Suing individuals who are making house payments, car payments, etc.. isn't something attorneys do... The real truth is that attorneys are not "going after" individuals...
    Believe any fantasy you wish.

    In real life, the above happens every day.
  13. by   mscsrjhm
    Quote from LarryG
    Believe any fantasy you wish.

    In real life, the above happens every day.


    There are alot of misconceptions regarding malpractice insurance.

    I worked in the legal field.

    If nurses will listen to experienced nurses for medical/nursing advice, why won't nurses listen to people experienced in the legal field?

    You said "Lots of companies sue individuals". This just isn't true. Or are you speaking of something other than malpractice?

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