Professional Liability Insurance

  1. what is your take on professional liablity or malpractice insurance? Do you have your own? Does your employer provide ths for you?

    Graduating in 18 days!!!
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  2. 15 Comments

  3. by   REDWOMANRN
    I have my own--never count on them to cover you--it is a guarantee that the will cover their own bu.. before yours!!!!

    I previously had mine with nco and fount that i could add it to my homeowners for less than 1/3 the cost!!!!!

    Get some--please!!!! Hopefully, it will just be another bill and you will never have to use it!!!!!

    Have a great day!!!!
  4. by   teeituptom
    Howdy Yall
    From deep in the heart of Texas

    I dont carry liability insurance, But I do belong to a Legal Plan where you guaranteed to have some one represent your interests if it comes down to it. And Texas has to be one of the most litiginous states in the union
  5. by   Lisamrod
    It's probably a good idea to have your own. It's not that expensive.
  6. by   bandaidexpert
    Good idea!!! Visit this site: www.nso.com
    It's cheap and offer peace of mind. :angel2:
  7. by   TIREDmidnightRN
    The cost of getting the paperwork togather to show the other side that they do not have a case is unreal! even if you never do wrong...never make an honest mistake, and never go to court....just fighting back if someone accuses you..your shift......whatever...can make insurance worth it!
    See.....if a person has a claim..or believes that he has a claim..he has to FIRST include every single person who had contact with him..then weed out the innocent (or the ones from whom the cost of recovery would outweigh the cost of litigation) .once a plaintiff files a complaint he cannot ADD defendants...so EVERYONE gets the initial cost of defending thier practice! That means meetings with lawyers, a nurse or medical consultant, research..all billed in 10 minute increments.....photcopies of paperwork (you pay for the copies, and it adds up fast)...time off work, paralegals, transcriptionists/ court recorder fees, ......all to prove that you are not a possible party..if you ARE a party..............yeah....insure!!!!!!!!!
  8. by   TIREDmidnightRN
    I mean the cost of litigation would outweigh the amount recovered........didn't sleep today..or last night!!!!!
  9. by   RenayCCRN
    To have it and not need it....oh well
    To not have it and need it....tragedy
  10. by   Froggy
    I'm still a student but do carry my own insurance. It's always better to be safe than sorry. If something is to happen the hospital or agancy ect... is ultimately going to cover their butts not yours!
  11. by   sjoe
    The last I looked into it:
    1) Your insurance company can decide to settle, whether you want them to or not, leaving the fact of a settlement on YOUR record.
    2) Some insurance policies only cover you so long as you maintain them. That is, if you are insured for 1999 and 2000, but then drop your coverage in 2001, some policies will not cover you for claims filed in 2001 for incidents that occurred in 1999 or 2000, while other policies will. It would be wise to find this out before paying for a policy, unless you are sure you want to stay with the same company forever.
    It is inexpensive, however, for the coverage involved, often $75-$90/year for 1 million dollars worth, depending on your State and specialty.
    Last edit by sjoe on Aug 20, '02
  12. by   donmurray
    The UK Nurses & Midwives Council (A kind of national BON I think) is pushing the idea of mandatory indemnity insurance. Most UK nurses are union members, and therefore covered as part of their membership package, but I wondered what average costs might be for individual nurses. Just a ball-park figure. Thanks
  13. by   UKRNinUSA
    about $90 a year
  14. by   DIPLOMATICRN4HIRE
    I have carried insurance since I graduated from Nursing school, we had a nurse (exnurse) speak with us about how necessary it is and after she informed us of what happened to her I have carried it too the highest amount I can without being too available for lawsuits...
    Its a tax deduction anyway so your not loosing any money really and its peace of mind.
    zoe

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