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Topics About 'Liability Insurance'.

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Found 8 results

  1. yelly23

    High Risk Student Liability Insurance

    Hi! So, I diverted medication as an RN, had a regulatory complaint, completed all the necessary programs and fines. I have since almost completed school for PMHNP. I am getting ready to start clinicals and I keep getting turned down for NP Student Liability Insurance related to the ding on my license. Does anyone know of a company that accepts things like this??? High-risk...anything??? I hate to think I have wasted $60,000 on a partial degree I can't use. Help!
  2. This question comes up frequently and is asked of me quite often, "should I carry malpractice protection?" What is Malpractice? Simply put, it is a failure to adhere to a standard of care or conduct by a professional such as a Physician, Nurse, Attorney, etc. Malpractice occurs when it can be proven that the professional had a duty to provide a standard of care/conduct, breached that duty, an injury or damage resulted, and the injury/damage was caused by the breach. No matter how educated, confident, and careful the Nurse is, unintentional mistakes can and will happen. Accidents will occur. And, unfortunately, willful neglect can be an issue. Injury and death very often are the results of mistakes, accidents, and neglect. Families want to know what happened. Even in the best scenario, the Nurse feels embarrassed and ultimately fears what the damage could do to a perfect professional reputation. Nurses must have the option of protecting their professional reputations and personal assets. Having individual liability insurance is a smart solution. Nurses will often make the following statement Yes, your employer's policy may cover you, but only up to a point. Remember: Your employer's policy is created to fit their specific needs and protects them first. You may even be told (by your employer HR) that you do not need your own policy. What they do not tell you is that they want you to be represented by their attorneys. They do not want "outside" representation for they know that their best interests will not be first and foremost. All malpractice liability insurance policies have limits of liability. If you are only covered by your employer's insurance, other defendants employed at your entity may and probably do share your liability limits under the same policy. If you, as well as others, are named in a suit, your legal costs, including any settlement, could exceed your employer's shared liability limits. This would mean out-of-pocket expenses for you. These are questions that are very important when considering a policy. Two Popular Policies Occurrence-based - any covered incident occurring while the policy is in effect even if the policy is now canceled and/or you have retired Claims-made - any covered incident only while the policy is in effect The cost of a policy is economical and reasonable. For example, the annual premium could cover the first hour billed by Attorney. $1,000,000/$6,000,000 coverage premiums are approximate $100/year in most states for the Registered Nurse (RN) as well as for the Licensed Practical/Vocational Nurse (LPN/LVN). Links of Interest CM&F Nursing Medical Malpractice Program American Nurses Association Nurses Service Organization One major benefit of an individual policy that is often overlooked or taken for granted when considering coverage is license protection. Nurses need to be aware that this will extend beyond their employer's coverage and includes discipline issues that can be brought up by the individual Nurse's Board of Nursing (BON). Many Nurses do not have the financial ability to go against the BON, therefore, license protection is a must. Another all-important beneficial consideration is that policies normally will include coverage regarding libel, slander and patient confidentiality, including HIPAA issues. These issues can be troublesome and include a great cost for the Nurse. Finally, a common statement that is incorrect and based on myth ... When being named in a lawsuit, no one knows you have your own personal policy unless you have revealed this information. Only after a lawsuit is filed and only during the period of the discovery phase is this information available. So, do you carry your own individual malpractice/liability insurance? In the end, the question of whether or not the Nurse should carry malpractice/liability insurance is a personal one and should be seriously considered. The peace of mind knowing that you are covered is overwhelming. The peace of overwhelming reassurance.
  3. MountainGoatRN

    Is malpractice insurance worth it?

    I work for a large hospital system as a floor nurse. I'm curious to know if getting insurance is a good thing to have. I have been given mixed reviews about it. Higher ups (at work) say it's not needed if you follow protocol to a t (I understand that and try to do so!). However, I've also heard that you're a target for malpractice if the other party learns that you have insurance- you're an even bigger target and on a radar. I'll take any stories/experiences you want to share.
  4. I'm so frustrated. I'm trying to get my RN license back in BC (Surrey) and have been approved for a sponsorship from a local health authority, unfortunately I'm required to obtain a 5 million/occurrence professional liability and third party liability insurance citing local health authority as an extra insured. CNPS lawyer says it doesn't exist, private insurance broker says there is no such insurance (he tried over 10 days and all insurance companies told him the coverage was enough through CNPS). To do the supervised practice experience, I'm required to provide documents that don't exist.... anyone heard of this? I will have 10 million $ /occurrence with a provisional license once I get a sponsorship (ie if I get this ? non existent insurance). Anyone know where I can to a supervised practice experience in greater Vancouver, preferably Surrey/New West/Burnaby where my BCCNP/CNPS liability insurance is enough? VCH doesn't allow supervised practice experiences and FHA is the one asking for these two extra liability insurances.
  5. "I don't need it, Nurses are never or hardly ever sued". So, does the Nurse actually need Liability insurance? If so, why? A couple of questions that should be considered while making this decision would be: "Would my policy provide an attorney to defend me and reimburse me if I incurred costs ... and, "Would my policy include coverage for any disciplinary action taken by the Board of Nursing?" What do you think? Does the Nurse really need his or her personal liability insurance? Do you have one? And, if so, what was the main reason you obtained a policy? For information on how to protect yourself visit our Nursing Malpractice Liability Insurance page.
  6. Vulnerable areas of nursing include anesthesia and obstetrics/midwifery. RNs in OB (L and D), those working solely in monitoring capacities (fetal heart, telemetry, etc.), and medication administration (including long term care) are also included in more litigious areas. Of course, the Advanced Practice Registered Nurse (APRN) other than CRNA and CNM are subject to increased litigation, but the latter two are more vulnerable. And, the Neonatal Nurse Practitioner (NNP) seems to be at high risk secondary to "pain and suffering" issues. As of recent reports from the 2020 CNA/NSO: Nurse Professional Liability Exposure Claim Report: 4th Edition, Home Care services claims have been on the increase. Issues related to treatment/care are the most frequent allegations. From the above report: Many Liability carriers in many states will insure the Nurse Practitioner, but not insure the Certified Nurse Midwife In some states, APRNs have stricter professional liability requirements whereas their physician counterparts can choose to be uninsured. This can present a problem for the APRN because they can, in turn, be targeted in lawsuits when the physician with whom they work has no coverage. But, nurses in general can be and often are, at risk. "The number of Adverse Action Reports (license defense issues) against nurses nearly doubled between 2003 - 2012." - Proliablility Major Reasons Why more Lawsuits are Being Made Against Nurses Our responsibilities have increased in complexity Higher levels of Standards of Care (SOC) Increased patient expectations Pressure to increase productivity and increased patient load Society has become highly litigious Most Common Issues Failure to abide by the Nurse Practice Act (NPA) Failure to follow the SOC Failure to adhere to policy/protocol/procedure Failure to document, including lack of documentation, altered documentation, missing or "lost" documentation, incomplete documentation Failure to recognize change in patient condition Failure to appreciate the change in patient condition Failure to report change in patient condition Failure to follow up change in patient condition Failure to communicate across the healthcare provider spectrum Failure to monitor Failure to act as patient advocate Failure to provide a safe environment Failure to respect patients’ rights to privacy and confidentiality Common Reasons for Errors Job overload (poor nurse-patient ratio) Inexperience Ignorance Inadequate patient monitoring Poor nursing judgment/critical thinking Hesitation Faulty communication Ignoring patient complaints Fatigue Breaks in concentration Flaws in the system Inadequate staff training Improper delegation Provision of services beyond scope of practice The nursing shortage Drug diversion and/or substance abuse Ways to Ensure Safe Practice and Avoid Litigation Be familiar with our individual NPA Adhere diligently within our Scope of Practice (SOP) Know the SOC for our specialty area(s) Question authority Educate ourselves regarding evidenced-based practice Stay abreast of changing trends in nursing through continuing education Educate ourselves regarding medical-legal issues Make sound, safe, and practical nursing judgments for all our patients A kind word and non-defensive attitude with a patient turns away many a lawsuit. On a final note... Protect yourself. Purchase liability insurance.
  7. The world's largest nursing website has partnered with one of the largest insurers of individual nurses in the country to provide affordable and trusted medical malpractice insurance. This is just another way the teams from allnurses.com and CM&F are helping nurses from across the United States to protect themselves from lawsuits. You can always hope that your employer would stand behind you in the unfortunate event of a lawsuit but when they have their own financial interests to protect, the importance of carrying your own medical malpractice coverage becomes very clear. Let's face the facts: medical errors - no matter how cautious and thorough you are - do happen. The price of protection is equal to two or three cups of coffee from your favorite shop. You wouldn't drive your car without insurance and working in the nursing profession shouldn't be any different. In business since 1947, family-owned CM&F specializes in providing nurses with trusted, reliable and affordable insurance to safeguard their livelihoods and futures. For less than $10.00 per month, almost every nurse in the country can have $1,000,000 in personal medical malpractice insurance coverage. In a world where it has become every man, woman and child for his or herself; protecting yourself should be priority number one. How do I apply? Applying for CM&F Medical Malpractice Insurance is easy through our online application process. It only takes about 5-10 minutes to get through the entire application and you receive your coverage documents immediately after that. Simply hit the "Apply Now" button. Protect Yourself Now! More info at CM&F Medical Malpractice Insurance Program
  8. dragonfire123

    Pros and cons of nursing insurance

    I have been working as an RN for a few years now, and in that time I have always held nursing insurance, discounted through my membership with my state nursing association. However, most of my coworkers are uninsured and question why I even have it. They say that I would be covered under my facility's nursing insurance and lawyer in the event of a malpractice suit involving me and that having insurance puts me at greater risk of getting sued, should be uncovered that I am insured. Funnily enough, my spouse (also a nurse) also feels the same way -- that I am spending money needlessly and putting us both at risk. I have kept the insurance because I was always under the impression that should I ever be involved in a case, my employer would protect me but its lawyers would always be primarily concerned with protecting the facility (not me) and that my license would be at risk (with the board of nursing), should my license be called into question. While I feel I am a safe and thoughtful nurse, I have held the insurance to afford me some peace of mind. I don't see $100 a year as a needless expense and I am inclined to think that the notion of me being 'more' at risk of getting sued for personal assets is more of a myth. Any thoughts and opinions (informed by experience) would be greatly appreciated. Thanks.