You may think of medical malpractice insurance as coverage only a doctor would need. After all, the physician generally takes the lead on cases and charts the course of care for a patient. But the truth is, medical malpractice suits can also target nurses. Many nurses don't realize this or mistakenly believe they are fully covered under their employer's policy.
When nurses and nurse practitioners are sued for medical malpractice, those suits may not be covered by the policy for your employer, which is aimed at protecting their own interests. You should consider getting your own registered nurse malpractice insurance, which can also provide for court costs coverage, benefits for members of certain associations and reimbursement of lost wages.
A Rise in Demand for Qualified Nurses Across the Medical Industry
The nursing shortage that's plagued the industry for more than a decade can be chalked up to lower supply and higher demand. The combined factors of Baby Boomers retiring from their nursing jobs and many people of that age group becoming patients themselves has led to fewer nurses for a greater number of patients.
With doctors' offices and hospitals eager to secure new nurses, the education process has been under a crunch. Many nurses don't learn how critical it is to have their own insurance to cover malpractice claims.
How Much is Malpractice Insurance for Nurses and Nurse Practitioners?
You'd be surprised at how low medical malpractice insurance costs for nurses can be, and it's well worth the price in exchange for peace of mind in the event of a malpractice suit.
The most common malpractice claims against nurses can be quite subjective. They include:
- Poor communication between nurse and physician about the patient's condition or symptoms
- Failure to meet standards of care guidelines, such as inserting a tube incorrectly or giving the wrong dosage of medicine
- Lack of documentation, which can make proper diagnosis difficult and hinder treatment if the patient moves on to another physician
- Failure to assess and monitor, which falls under the duties of a nurse
Protecting yourself against these allegations without proper medical malpractice insurance is difficult. Having your own lawyer instead of relying on one hired by your employer ensures that your best interests are represented. You may not be able to afford an attorney if you don't have the insurance to cover it.
Depending on the type of insurance you need, based on your work and what policy your employer has, the cost for $1 million in coverage is highly affordable on the average nurse's salary.
Arthur J. Gallagher Provides Low-Cost Malpractice Insurance for Nurses and Nurse Practitioners
We understand the risks inherent in the medical profession and offer malpractice insurance at a reasonable price for nurses with easy and quick quotes. You benefit when you rely on us instead of a general underwriter because we have vast knowledge of the field and access to better markets. We have developed relationships that will help you get a better policy at a better cost.
You can trust Gallagher because we have helped many nurses just like you. We have a global footprint and have been named World's Most Ethical Company by Ethisphere.
Invest in Medical Malpractice Insurance for Nurses to Safeguard Your Future
You have a bright career path ahead. Don't get caught off guard with a costly medical malpractice suit you mistakenly assume your employer can handle on your behalf. Protect yourself and your needs by consulting with Gallagher to discuss what policy would work in your best interests. Get in touch with us now to receive a quote.