malpractice insurance: need your help!

  1. Hello.
    I am a recent new grad. who just got a job as a NP.
    In my company sent me an application form for malpractice insurance.
    At the form, I need to choose which types of coverage I want.
    there are:
    1. claims-made coverage without prior acts coverage
    2. claims-made coverage with prior acts coverage
    3. occurrence coverage
    4. occurrence coverage with prior acts coverage

    This is my first job(position) in my career.
    Therefore, I have no idea which type might be the best fit for me.
    Please give me some suggestions and recommendations for me!!!
    Thank you!
  2. Visit j411100 profile page

    About j411100

    Joined: Jun '12; Posts: 9; Likes: 1


  3. by   zenman
    If you're a brand new NP there should be no "prior acts" coverage needed. I'm not sure what "claims-made coverage is. If someone is suing I'd think it would be due to some occurrence...which you have yet to make.
  4. by   Lovanurse
    Occurrence insurance will cover an incident that happened while the policy is/was in effect, regardless when it is reported and regardless if the policy is still active. Example: Say a patient sues you a year after you have moved on to a new job and discontinued the policy, the occurrence insurance will still cover you.

    Claims made will only cover you while the policy is active. So after the policy is discontinued, you will be financially responsible for the claim.

    I'm not sure about the extra add on's.
  5. by   BlueDevil,DNP
    Your recruiter should be helping you with this. You need occurrence coverage. It will stay with you for any patient you see during your employment here for as long as they or any interested third party has standing to sue, regardless of whether or not you are still employed by the practice. This means if you leave, you will not need tail coverage, which is extraordinarily expensive.