NP's Malpractice insurance.... - page 2

I was just wondering, how much is the insurance for a FNP or just a NP in general. I am a BSN student with the hopes of after graduation, passing the NCLEX and a few years experience i will go back... Read More

  1. by   Finally2003NP-C
    Only $1200 for malpractice.... mine is $1600 and only if I do not see pregnant folk. You do not want to contemplate that figure. My first malpractice bill was $39, way back when I had the sense to work as a staff RN.
  2. by   ghillbert
    Quote from JDCitizen
    I don't know I think there are more than a few people that think we all in the medical community should be able to keep grandma and grandpa alive and happily kicking even though they were not that way when they got to us. Iv heard it too many times he/she was fine last week before coming to the hospital (brought to the hospital by EMS)...

    Well, note that I said "more likely" to sue re children, not that Grandma's grieving family won't sue.
  3. by   JDCitizen
    Quote from Finally2003NP-C
    Only $1200 for malpractice.... mine is $1600 and only if I do not see pregnant folk. You do not want to contemplate that figure. My first malpractice bill was $39, way back when I had the sense to work as a staff RN.
    Got my bill in the mail: $1,245.00

    Now if only their blasted site would work properly they would be getting some more money by now...
  4. by   leahvonleah
    I used to be with NSO, but then I found Marsh and Affinity Ins services. Very competitive rates. I work part time so they offered p/t premium where NSO did not. This was important for my first job b/c my employer did not pay /cover NPs malpractice.
  5. by   christvs
    Quote from JDCitizen
    I have been using NSO ever since I was in the BSN program.... No problems so far. My rates did go up significantly after I entered into the nurse practitioner world though.
    Yep, I hear you! Mine will be $900 or so, but I am so broke right now, I have to wait a bit to sign up for it. I have my hospital's insurance now....not as thorough as NSO, true...but hopefully I can sign up for it when I get caught up with other bills.
  6. by   juan de la cruz
    Marsh Professional Libaility insurance is less expensive than NSO by a lot of dollars. They also offer a 10% discount on you premium if you're an ANA member. However, the limits of liability is lower than NSO - $2M each occurrence and $4M annual aggregate. NSO is $1M each occurrence and up to $6M annual aggregate.
  7. by   forpath
    Why do you all think malpractice rates are so much lower for FNPs than for MDs/DOs performing the same tasks?
  8. by   JDCitizen
    Quote from forpath
    Why do you all think malpractice rates are so much lower for FNPs than for MDs/DOs performing the same tasks?
    I have discussed insurance with more than a few doctors. Except for a few their premiums were relatively low for 7 years than more than quadrupled....

    Don't worry as the insurance companies get used to us they will bleed us more...
  9. by   ANPFNPGNP
    Quote from forpath
    Why do you all think malpractice rates are so much lower for FNPs than for MDs/DOs performing the same tasks?
    The doc paid for my malpractice insurance at my first job. He thought that $800/month was a bargain. He almost fainted when I told him it was $800 A YEAR!

    Unfortunately, my insurance more than doubled when I became a FNP and I don't even see OB.
  10. by   DaisyRN, ACNP
    [font="comic sans ms"]
    i have been under the impression that if you carry your own independent malpractice that you are more likely to be sued. someone told me that in the past. if, however, you are covered by a blanket group policy, the litigators realize they will not get as much from you... as opposed to someone also having an independent insurance. what do ya'll think about that? because i have thought of getting my own... just don't want to open myself up for higher possibilities of litigation.

    how do you know what limits to choose?

    also... you get a recent graduate discount if you completed your program within the previous 12 months, just fyi.

  11. by   ANPFNPGNP
    Quote from daisyrn, acnp
    i have been under the impression that if you carry your own independent malpractice that you are more likely to be sued. someone told me that in the past. if, however, you are covered by a blanket group policy, the litigators realize they will not get as much from you... as opposed to someone also having an independent insurance. what do ya'll think about that? because i have thought of getting my own... just don't want to open myself up for higher possibilities of litigation.

    how do you know what limits to choose?

    also... you get a recent graduate discount if you completed your program within the previous 12 months, just fyi.
    unfortunately, i'm not covered under a blanket policy. i'm an independent contractor and i don't have a choice but to carry insurance. all the docs i contract with demand that i have my own insurance.
  12. by   core0
    Quote from daisyrn, acnp
    i have been under the impression that if you carry your own independent malpractice that you are more likely to be sued. someone told me that in the past. if, however, you are covered by a blanket group policy, the litigators realize they will not get as much from you... as opposed to someone also having an independent insurance. what do ya'll think about that? because i have thought of getting my own... just don't want to open myself up for higher possibilities of litigation.

    how do you know what limits to choose?

    also... you get a recent graduate discount if you completed your program within the previous 12 months, just fyi.
    i'll let siri or one of the lnc's comment on the getting sued if you have insurance part. from what i've heard thats a myth. in my mind what your own insurance does is buys you control. lets say that you have group coverage and you get sued. you don't want to settle. in most cases if you have your own policy then you control whether you settle or not. on the other hand it may be easier and cheaper for the owner to settle. after all they are not the ones that are listed in the national practitioner data bank for the rest of their life.

    the other issue is what happens with limits. lets say the practice has a $1/3 million policy. you and the doctor gets sued. the case goes to trial and you are each assessed $1million. the policy pays off for the physician but there is nothing left to pay off your claim. once again your policy buys you control.

    the bottom line is that every practitioner should have their own individual policy paid for by the practice. the practice should also have a group liability policy. if you have a claims made policy (by far the majority of policies issued) make sure that the tail is covered by your practice.

    for what its worth anectdotally npps are being sued more often. in part this is due to pain and suffering limits. this is reflected in the increasing premiums.

    david carpenter, pa-c
  13. by   traumaRUs
    The caveat to this David is that I wouldn't want the practice paying for my own insurance....they do cover me of course but I carry a separate private policy that they know nothing about. That way MY interests are covered.

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