Personal malpractice insurance....yes or no?

Nurses General Nursing

Published

We had this discussion at work the other day. One of the points against it was that lawyers will go for the person(s) with the most . Also I know, I've been told that the hospital would back you up if you are following policy. Do you carry a personal policy?

Beth

Specializes in ICU, CM, Geriatrics, Management.
... Suing an individual, the end never justifies.... unless that person is Bill Gates...

Whaaaaaaaa?!?

No offense, but that's totally nuts.

Lots of companies sue individuals.

Up Vote Up Vote ×
Whaaaaaaaa?!?

No offense, but that's totally nuts.

Lots of companies sue individuals.

No offense taken bacause, apparently, you are not talking about malpractice anymore?

Companies do not sue individuals unless there is gain. That gain might be publicity, affecting issues long term (again, publicity), or money.

To say "lots of companies sue individuals" isn't quite correct. Or, I might not understand what you are saying. Could you explain it?

Up Vote Up Vote ×
Specializes in ICU, CM, Geriatrics, Management.
... Companies do not sue individuals unless there is gain...

Almost, but not quite, right.

Talking about bucks strictly, if the net benefit meets / exceeds the pre-established gain threshold, they'll sue. (Applies to malpractice specifically, but generally also to any financial context.)

Up Vote Up Vote ×
Almost, but not quite, right.

Talking about bucks strictly, if the net benefit meets / exceeds the pre-established gain threshold, they'll sue. (Applies to malpractice specifically, but generally also to any financial context.)

Don't know about net/gain. Do know that attorneys will not spend thousands of dollars on "maybe's"

Suing individuals who are making house payments, car payments, etc.. isn't something attorneys do.

Many nurses have misconceptions about the legal field, and what is done in lawsuits.

The real truth is that attorneys are not "going after" individuals. No money in it.

Up Vote Up Vote ×
Specializes in ICU, CM, Geriatrics, Management.
... attorneys will not spend thousands of dollars on "maybe's"... Suing individuals who are making house payments, car payments, etc.. isn't something attorneys do... The real truth is that attorneys are not "going after" individuals...

Believe any fantasy you wish.

In real life, the above happens every day.

Up Vote Up Vote ×
Believe any fantasy you wish.

In real life, the above happens every day.

There are alot of misconceptions regarding .

I worked in the legal field.

If nurses will listen to experienced nurses for medical/nursing advice, why won't nurses listen to people experienced in the legal field?

You said "Lots of companies sue individuals". This just isn't true. Or are you speaking of something other than malpractice?

Up Vote Up Vote ×

The reality is that attorneys go after individuals who have assets which are available. In most such lawsuits, the attorney makes money as a percentage of the damages collected against the one sued.

So, if damages are won of, say, $600,000, the attorney might get 1/3 of that: $200,000. (This would depend on how things were originally worked out with the one doing the suing, the plaintiff).

The attorney is going to first have to lay out money to try the case. Money for the attorney's time, money for expert witnesses, money for investigation, etc.

Let's say you make a sue-able error, and a patient wants to sue you. Let's also say that you -- like many reading this board -- aren't rich. Let's say you live pretty much from paycheck-to-paycheck. Why would the attorney agree to take your case? The suit might be one the attorney could easily win. But there's nothing to seize, and the court's not going to order you into slavery or something.

The court could rule against you for millions, but if you don't have the money/assets, the plaintiff doesn't get anything besides the satisfaction of knowing they were right. And the attorney gets nothing for his/her time.

Attorneys are usually (like most of us) out to make money. They are not doing their work as a cause. If you have essentially nothing of value, why on earth would they sue you?

If you have , suddenly you have instant assets.

A trial is no fun. It is a headache, your name will -- rightly or wrongly -- be dragged through the mud, and many people will assume you are guilty, even if you aren't.

Most nurses I know would prefer to avoid that. It's why I have no malpractice insurance. And it's why -- unless a nurse has assets bigger than what most people have -- I suggest that others do the same.

Jim Huffman, RN

Up Vote Up Vote ×
Specializes in ICU, CM, Geriatrics, Management.
... If you have essentially nothing of value, why on earth would they sue you?...

Think we've been there already.

Bob Dylan said it best: "When you got nothing, you got nothing to lose."

Up Vote Up Vote ×

Thanks J. Huffman.

If nurses will listen to experienced nurses for medical/nursing advice, why won't nurses listen to people experienced in the legal field?

Boggles the mind, doesn't it?

What is that saying... "fool some of the people some of the time..."

I should definitely invest money in insurance companies...evidently fear + misleading info = money.

Up Vote Up Vote ×

I think that's the beauty of the internet.

I can look (as I have) on the net, and find that -- statistically speaking -- nurses never get sued. And on the basis of that, I don't feel that 99% of nurses NEED , even if it were not a lawyer magnet.

But malpractice insurance does attract the lawyers. I don't begrudge attorneys their living, I just think we have too many of them. So I am quite happy to do things -- like not buying malpractice insurance -- that will make sure that attorneys have to find more productive ways to make a living.

Insurance companies make their business from insuring against risk. And the higher the risk, the greater the insurance premium. So, given those 2 factors, why is malpractice insurance such a bargain? (Around $100 a year for most nurses).

The answer, of course, is because there is almost no risk. Statistically speaking, there's about the same amount of risk of your being hit by a meteor. And, statistically speaking, neither event (lawsuit or meteor hit) are going to happen.

Jim Huffman, RN

Up Vote Up Vote ×

The very large facility I work for is a not-for-profit - and they actually are self-insured. How does this change the insurance issue? I know (after talking to the house attorney) that the max payout from the hospital is $25,000 (not-for-profit cap of some type). My thought about this would be that an individual with insurance would be even more appealing to a money-hunting attorney if an incident occured in this facility because of the lack of payout available from the institution. Is this a logical way of thinking? Moving forward with this logic, however, I question then if my assetts ($100,000 equity in my home) suddenly becomes more appealing as well when the facility can only produce $25,000. I tend to be of the 'no insurance' camp, but do admit that I am struggling with the possible reality vs. theoretical probability.

Thanks!

Up Vote Up Vote ×
The very large facility I work for is a not-for-profit - and they actually are self-insured. How does this change the insurance issue? I know (after talking to the house attorney) that the max payout from the hospital is $25,000 (not-for-profit cap of some type). My thought about this would be that an individual with insurance would be even more appealing to a money-hunting attorney if an incident occured in this facility because of the lack of payout available from the institution. Is this a logical way of thinking? Moving forward with this logic, however, I question then if my assetts ($100,000 equity in my home) suddenly becomes more appealing as well when the facility can only produce $25,000. I tend to be of the 'no insurance' camp, but do admit that I am struggling with the possible reality vs. theoretical probability.

Thanks!

Many non-for-profit carry only the law-appointed amount of insurance in order to become less appealing. One of the first questions asked of potential clients is whether the facility was not-for-profit. Some had very definite cases of med/mal/neg, but couldn't find an attorney to take the case.

100,000$ equity in your home is nothing to worry about. It would take an attorney many years to get a judgement, along with thousands of his own money, and then what guarantees the attorney that he would get any judgement or money? There is no guarantee... this is why it just isn't done. Besides, you could go through the 100,000 defending yourself. Attorneys know this. If attorneys ran their firms with "maybe's", they would go bankrupt.

Remember, litigation continues regarding three mile island.

Up Vote Up Vote ×
+ Add a Comment