NP liability insurance - new grad

[Cindy-20]

Just wondering what company people have chosen for np Liability Insurance? I'm looking to carry my own in addition to what the company I will be working for will cover. I'm not looking to spend a fortune. I've been checking companies for rates and it seems all over the place, but they are basically providing the same service. It's confusing. If anyone is willing to share their experience, I would greatly appreciate. Many thanks!

NSO or AANP both offer decent prices on coverage.

Remember there are different types of coverage and different limits you can choose. The most stark difference is between claims-made and occurrence policies.

You do want to check through the exclusions as well as you don't want to be paying for coverage that excludes you.

[Cindy-20]

Should I be selecting claims-based or occurrence? Also there is no way to select tail coverage and I would like that also...

Should I be selecting claims-based or occurrence? Also there is no way to select tail coverage and I would like that also...

Simple example: You are working as an NP on 1/1/2019 and you have an active malpractice policy. Five years later, you are sued by a patient for malpractice from your visit that day. It is now the year 2024 and you don't have malpractice because you are doing something different.

Claims-made only covers you while your policy is active. You would not be covered for this lawsuit.

Occurrence covers anything that occurred while your policy was active regardless of when the suit is filed. You would be covered for this lawsuit.

Tail-coverage can be purchased at the end of a claims-made policy which would cover a lawsuit filed after your claims-made policy ended.

[Cindy-20]

@bostonfnp Thanks so much for the explanation. So just to clarify I don't need to get tail coverage with occurrence based insurance???

@bostonfnp Thanks so much for the explanation. So just to clarify I don't need to get tail coverage with occurrence based insurance???

Occurrence should not require tail coverage.

[Cindy-20]

Thank you so much for holding my hand through this process @bostonfnp. So to be clear, I should be getting occurrence coverage period, correct?

[traumaRUs, MSN, APRN]

You should ALWAYS carry malpractice insurance.

Thank you so much for holding my hand through this process @bostonfnp. So to be clear, I should be getting occurrence coverage period, correct?

It depends.

Occurrence coverage is more expensive. If you are just starting your career it may make more financial sense to use claims-based, but that is up to you.