The Healthcare Professional Liability Insurance That Nurses Need
Nursing professionals work hard and use various methods to treat patients. While you’ll spend your career avoiding mistakes, unfortunately they happen. And if an error causes your patient a financial loss, they can sue you. Even if you don’t make a mistake during treatment, you can still get sued and potentially be legally obligated to pay a covered claim. That’s why professional liability insurance for nurses is important to have.
Professional liability insurance for nurses helps protect you from claims of medical malpractice resulting from professional services. If you get sued, it can help pay for the costs to defend your business in court.
What Is Professional Liability Insurance for Healthcare Professionals?
Professional liability insurance for healthcare workers helps cover claims you’d have to pay as a result of:
- Negligence
- Misrepresentation
- Inaccurate advice
- Failure to protect a patient’s healthcare records
It helps protect different types of healthcare professionals, like nurse practitioners, physical therapists and occupational therapists. You may have heard different names for professional liability insurance for healthcare workers, like:
- Medical malpractice insurance
- Nurse malpractice insurance
- Errors and omissions insurance
- E&O insurance
If you get sued because of your professional services, this type of business insurance can help cover your:
- Legal fees
- Defense costs
- Judgments
- Settlements
- Lost income if you have to attend a trial or deposition
Your professional liability insurance policy will include limits of liability. This means your insurer will only cover claims up to a certain amount. Common limits include a $1 million occurrence limit and a $3 million aggregate limit. In this case, an insurer will cover up to $1 million for a claim and a maximum of $3 million during the policy period.
Do Nurses Need Professional Liability Insurance?
Professional liability insurance is a critical coverage for nursing professionals. Some states require nurses to carry professional liability insurance. Even if it’s not required, the peace of mind that comes with protecting your business is worth it.
This type of insurance coverage can help different types of healthcare professionals, like:
- Registered nurses
- Clinical nurse specialists
- Visiting nurses
- Licensed vocational or practical nurses
- Certified nursing assistants
Why Is Professional Liability Insurance Important for Nurses?
Doctors are not the only healthcare professionals who have to deal with lawsuits. Nursing professionals are also sued regularly by patients or their representatives and even the state board of nursing (SBON). Professional liability insurance can protect nurses from expensive litigation and offers peace of mind during incidents that occur.
Additional Nurse Liability Insurance Coverages You May Need
Professional liability insurance for healthcare workers doesn’t cover every kind of claim that nurses may face. You’ll likely need other types of medical business insurance or assault coverage, like:
General liability insurance to help protect your business if a claim is filed for:
- Damage to property or to someone’s belongings
- Lesiones corporales
- Personal injury, like libel or slander
Workers’ compensation insurance to help your employees recover from a work-related injury or illness. This insurance coverage provides benefits that can help:
- Pay for medical bills
- Cover ongoing care expenses, like physical therapy
- Replace some lost wages
Data breach insurance, which some insurance companies call cyber liability insurance, can help you respond to a breach if personally identifiable information or health records get lost.
Commercial property insurance to help protect your owned or rented building and operational equipment. This can include:
- Blood pressure monitors
- Medical tools
- Computers
- Software
- Stethoscope
How Much Is Professional Liability Insurance for a Nurse?
Professional liability insurance for nurses can cost between $300 and $1,500 a year. Nurse liability insurance costs vary because every business is unique and has different needs. Insurance companies use different factors to determine insurance costs. These can include:
- Claims history
- Years in business or experience
- Lugar
The best way to find out what you’ll pay for professional liability insurance for nurses is to get a quote. You can call 844-931-3728 to find out how much professional liability insurance will be for you.
Get a Quote for Nurses Professional Liability Insurance Coverage Today
It’s important to partner with an experienced insurance company, like us. We have more than 200 years of experience and know the unique risks that healthcare professionals face. Our specialists can help you get the medical business insurance coverage you need or walk you through the claims process. We’ve got your back at every step of the way.
Llame al 844-931-3728 today and see how we can help protect you.
Última actualización: 24 de junio de 2022