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Medical Liability Insurance for Nurses

Nurses have jobs that are as equally stressful as rewarding, particularly because of the extensive responsibilities that each nurse must take on when caring for patients. A single mistake could result in serious injury or even a fatality, so the utmost caution must be taken during all operations and procedures. However, no one is perfect and every nurse and doctor carries a certain amount of legal liability when caring for patients. When mistakes do occur, it is very common for the family members of the affected patient, or the patient themselves, to file a lawsuit against the doctors, nurses, and any other parties that were present or contributed to the alleged malpractice. To minimize the possibility of being sued or losing your employment unexpectedly due to a lawsuit brought on by an unsatisfied or injured patient, you should consider the benefits of purchasing medical liability insurance for nurses.

What is Medical Liability Insurance for Nurses?
Medical liability insurance for nurses is actually a type of professional liability insurance that provides coverage for claims filed against professionals (i.e. – doctors, lawyers, nurses) as a result of negligence or wrongdoing. In essence, a professional liability insurance policy limits the amount of financial damage that can be done to a business or worker due to a lawsuit, and provides emergency funding for unexpected court costs and lawyer fees that are associated with such lawsuits. Professional liability insurance policies are offered by lawyers to employees, as well as by insurance providers to individuals and business owners. Although medical liability insurance for nurses cannot completely eliminate responsibilities and prevent lawsuits, it can mitigate the financial impact that such legal turmoil can cause. In fact, most experts recommend that every nurse have some form of liability insurance while practicing.

Personal Policies versus Employee Insurance
Although the policies offered by employees are comprehensive enough to provide coverage for basic liabilities, there are many coverage gaps that exist within these all-inclusive policies, and a personal insurance policy would definitely be preferable. While employee policies provide basic levels of coverage, personal policies offer all of the financial and legal assistance needed in a controversial and financially stressful court case. In addition, an employer's policy usually does not reimburse the worker for the amount of time they must spend away from work due to the malpractice lawsuit, whereas a personal policy will provide coverage for this lost income. Furthermore, personal policies provide coverage when you choose to change employers or when you experience periods of unemployment. Employer insurance policies also usually only cover liabilities for actions that occur while you are performing duties on behalf of the employer, and do not provide protection for extracurricular activities related to your career.

The Benefits of Medical Liability Insurance for Nurses
Personal medical liability insurance for nurses provides the extensive coverage needed to cover legal costs and settlements or judgments that exceed employer policy coverage restrictions and limitations. Even student nurses can benefit from a personal medical liability insurance policy, especially as they begin to take on actual nursing duties on a daily basis. Medical liability insurance for nurses is recommended for nearly every type of nurse, including forensic nurses and school nurses, both of which do not directly deal with a large percentage of "high risk" patients regularly. With more lawsuits being filed against professional companies each year the chances of having false allegations filed against you are heightening annually, and it is becoming increasingly important to obtain a medical liability insurance policy as a nurse in today's high risk society. However, it is equally important to thoroughly review the terms of each insurance policy and shop around before selecting a solution that is suitable for your needs.

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