You Need ProfessionalLiability Insurance
Nurses and health professionals should carry their own professional liability insurance. Any member of the patient care team can be named in a lawsuit. Professional liability insurance is typically inexpensive, and can be customized to meet the needs of the insured related to type of practice and area of specialty.
Myths Surrounding Professional Liability Insurance
Myth: Having malpractice insurance will increase my risk of being sued.
Unless an individual tells a potential plaintiff they have professional liability insurance, this information is unknown. The basis of whom has liability insurance is not a factor when deciding who is named in a lawsuit. Insurance coverage is not disclosed until after the lawsuit is filed and the discovery phase of the suit has begun.
Myth: I am fully covered by my employer’s insurance.
The employer’s insurance coverage is designed to protect the facility/organization, not necessarily the nurse or health professional. If a conflict of interest arises between the individual and the employer, the defense attorney will have a responsibility to the facility/organization first. The employer’s coverage will not cover the nurse if it is proven the nurse acted outside the company’s policies and procedures. It should also be noted that contract nursing professionals are typically not covered by the organization because they are not employees of said organization.
Myth: I do not need coverage because I do not practice in a high-risk specialty.
It is true that certain heathcare specialties have higher liability risks than other healthcare specialties. However, a nurse or health professional in any area of practice or specialty can be named in a lawsuit, or have a complaint filed against them with their regulatory entity.
Myth: I do not need coverage because if I am sued, I have no assets.
Even if an individual has no assets, a judgement against a nurse or health professional as a result of a lawsuit can negatively impact the current and future earnings in the form of wage garnishment.