When you land your first job as a nurse, your employer’s HR department will review various employee benefits, including malpractice insurance for nurses. Remember, though, that the healthcare organization’s insurer is tasked with protecting the company and not each nurse individually. That may mean the company’s coverage is not enough to protect you if you are named in a lawsuit for malpractice.
Protect Yourself With the Right Coverage
To make sure you are protected, speak to an insurance agent about professional liability insurance. The agent can help you determine if you are best suited for a claims-made policy or an occurrence-type policy.
A claims-made policy protects you while the policy is in effect. In other words, as long as a claim is filed while you are covered by the policy, you are protected. Note, however, that If a claim is filed after you drop the policy, even if the incident occurred during the policy period, you may not be covered. A tail insurance policy can protect you from this.
You may instead opt for an occurrence-type policy, which provides lifetime coverage. This protects you from a claim filed at any time, even when you are no longer carrying the policy, as long as the incident occurred while you were covered.
Not sure which malpractice insurance for nurses is best for you? Your agent should help you select the right policy.