malpractice insurance

Nurse Ratched, RN · Dec 28, 2004

https://allnurses.com/forums/showthread.php?t=72612&highlight=malpractice+insurance

Here's one of the discussions we've had on the pros and cons of Liability Insurance.

My company is NSO - $89 per year.

BAndersonRN · Dec 28, 2004

If I could make a suggestion regarding your decision to purchase malpractice insurance I would advise against it for several reasons. #1 as long as you are following policy and procedure (which you should be as a prudent and safe nurse) according to your facility/institution you will be covered under that facilities insurance. #2 patients/clients that sue generally go after those with the money such as the physcians/institutions (not that we as nurses are poor.. but lets face it, the majority of us practicing as a staff nurse are not pulling in 6 figures or more a year) Unless you have many assessts that you would be at a high risk for losing, malpractice insurance isn't necessary since there really isn't anything of value to take away. #3, If the patient's/Client's attorney or council learn that you as a nurse are carrying malpractice insurance, they would be more then happy to aggressively persue you in any civil law suits since your policy is probably capable of covering up to several million (all the attorneys look for is who will have the most $$$$$???) .... Im not saying its a bad thing to purchase insurance, but realistically its just a way for corporations to take advantge of us nurses...

suzanne4, RN · Dec 28, 2004

I don't agree with the above poster. I would not consider working without my own malpractice insurance. And I use NSO. As also stated earlier, please look at previos threads on this subject.

Good luck with your new job................. :wink2:

Thunderwolf, MSN, RN · Dec 28, 2004

Been an RN for 19 years. Always had nursing insurance. Wouldn't consider practicing without it. I also use NSO.

allnurses Guide · Dec 28, 2004

If I could make a suggestion regarding your decision to purchase malpractice insurance I would advise against it for several reasons. #1 as long as you are following policy and procedure (which you should be as a prudent and safe nurse) according to your facility/institution you will be covered under that facilities insurance. #2 patients/clients that sue generally go after those with the money such as the physcians/institutions (not that we as nurses are poor.. but lets face it, the majority of us practicing as a staff nurse are not pulling in 6 figures or more a year) Unless you have many assessts that you would be at a high risk for losing, malpractice insurance isn't necessary since there really isn't anything of value to take away. #3, If the patient's/Client's attorney or council learn that you as a nurse are carrying malpractice insurance, they would be more then happy to aggressively persue you in any civil law suits since your policy is probably capable of covering up to several million (all the attorneys look for is who will have the most $$$$$???) .... Im not saying its a bad thing to purchase insurance, but realistically its just a way for corporations to take advantge of us nurses...

I agree with this. I got lots of advice from seasoned nurses NOT to purchase insurance. And I attended a legal nurse consultant conference and she adviced NOT to purchase it also.

Of course, since it is usually under $100 a year, if it helps someone's peace of mind then go for it. I would just be careful and do some more research.

steph

p.s. read the thread mentioned above - very interesting.

jennifer14225 · Dec 28, 2004

What are some of the names and addresses of malpractice insurance for RN's that also protect your RN liscense and what is the cost?

Sadie04 · Dec 28, 2004

I recently purchased malpractice insurance because my hubby and I own a couple properties and paid off the loans on our 2 vehicles. Also my husband's real estate business has been very busy lately and for the first time our annual income will be 6 figures, all of which makes me nervous about malpractice lawsuits. Maybe it's just a scare tactic, but every time we get into a discussion about it at work, someone says 'well, you know if the hospital or a physician got sued, they would probably hang the nurses involved out to dry.'

kathc · Dec 28, 2004

I'm a recently graduated nurse and plan to carry malpractice insurance. In fact I carried it as a student. I will stick with NSO. My instructor recommended carrying insurance for several reasons:

1. Hospitals or health facilities might get financially strapped and not pay the premiums on their insurance.

2. If you are sued, you will get an attorney whose interests lie with the hospital - not you. If you have your own insurance, you get your own attorney concerned with you.

3. Nurse malpractice suits have grown from 20-35% in the last ten years.

4. What if you get a new job and several years later you are sued? Is that facility still in existence? Do they still cover you?

I might just be paranoid :chuckle , and maybe my instructor was just talking out her bum, but for $80 or so bucks a year, I'll cover my bum just in case.

This is an interesting site. This is a lawyer site advertising experience in nursing malpractive. :eek:

http://www.pritzkerlaw.com/nursing-malpractice/