Insurance for Nurse Practitioners
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Why do nurse practitioners need insurance?
Nurse practitioners (NPs) provide essential healthcare services to patients. While this profession can be highly rewarding, it also comes with certain risks.
Malpractice lawsuits, negligence claims, accidental property damage, and cyber breaches are just some of the risks a nurse practitioner may face on the job. Defending yourself against these and other claims can be expensive, even if you are not at fault.
That’s why BizInsure provides tailored insurance options to nurse practitioners to help them protect their finances, career and professional reputation.
Did you Know?
Certain types of insurance—such as Professional Liability and General Liability—may be required to receive an NP license or work with specific healthcare organizations.
What types of insurance do nurse practitioners need?
Nurse practitioners may consider different types of insurance to help protect themselves on the job.
Professional Liability insurance
Professional Liability, insurance helps to protect healthcare professionals against claims made against them as the result of negligence in the course of their work. Specifically in the nursing field, Professional Liability insurance might also be known as malpractice insurance.
One of the most common risks in the workplace facing nurse practitioners is being named in a malpractice lawsuit. The results from a claim can be financially devastating, but can also cause serious damage to a nurse’s reputation – whether the allegations are true or not.
Malpractice insurance for nurse practitioners provides coverage in addition to an employer’s Professional Liability policy. Your employer’s liability policies may not fully protect employees from claims and lawsuits, which is why many NPs choose to have their own coverage.
What’s included in Professional Liability insurance?
Generally speaking, most Professional Liability insurance policies will include the following:
- Defense counsel and legal fees for covered claims (limits apply).
- Settlement and claims costs (limits apply).
- HIPAA violations (limits apply).
- Assault coverage (limits apply).
- 24/7 coverage for the policy period.
General Liability insurance
While patient interactions create risk for NPs, so do dealings with patient families, doctors, nurses, and other healthcare professionals. A General Liability insurance policy can help you manage property damage and injury claims from third parties.
In addition to this, General Liability insurance may be required if you work as an independent nursing contractor or provide volunteer medical services at events.
What’s included in General Liability insurance?
Typically, most General Liability insurance policies will include the following:
- Bodily injury coverage for a third party (limits apply).
- Property damage coverage for a third party (limits apply)/
- Medical payments to third parties (limits apply).
- Defense counsel and legal fees (with insurer-appointed counsel).
- Settlement and claims costs (limits apply).
- 24/7 coverage for the policy period.
Cyber Liability insurance
The medical industry is becoming more reliant on computers and internet-connected devices—from monitoring patient vitals to storing records and making payments. Cyberattacks on healthcare businesses are not uncommon and becoming more frequent.
Cyber Liability insurance can help NPs recover from a cyberattack or data breach, while improving their HIPAA compliance.
What’s included in Cyber Liability insurance?
All policies will vary, but most Cyber Liability insurance policies will include the following:
- Data breach response costs, plus computer expert, legal, and PR/crisis management services (limits apply).
- Regulatory fines and penalties (limits apply).
- Reputation protection for PR/crisis management services (limits apply).
- Defense counsel and legal fees (limits apply).
- Settlement and claims costs (limits apply).
- 24/7 coverage for the policy period.
Miscellaneous Medical Liability Package for nurse practitioners
A Miscellaneous Medical Liability package combines General Liability, Cyber Liability, and Professional Liability/Medical Malpractice insurance for nurse practitioners into a convenient and affordable insurance bundle.
For more information on Miscellaneous Medical Liability Packages for healthcare professionals, contact our friendly staff today or get a quote.
Frequently asked questions
Does Professional Liability insurance / Medical Malpractice insurance cover nurse practitioners who work in different locations?
Yes. Most nurse practitioner Professional Liability insurance policies provide coverage regardless of where you practice, whether in multiple clinics, hospitals, or home health settings. However, it’s important to check that your policy explicitly includes coverage for all locations where you see patients.
Does nurse practitioner Medical Malpractice insurance cover my company?
Typically, individual Malpractice insurance covers you as the healthcare provider, not your company or employer. If your business itself requires protection, you may need a separate Business Liability or General Liability policy to cover your practice or employees.
Does nurse practitioner Medical Malpractice insurance cover my entire practice?
Professional Liability insurance / Medical Malpractice insurance primarily covers you as an individual provider. If you own a practice with other clinicians, employees, or multiple locations, you may need additional coverage to protect your full practice operations.
I'm covered by my employer. Why do I need individual liability as nurse practitioner?
Employer coverage is often limited to the scope of your work for that employer. Individual liability ensures you’re protected for:
- Work performed outside your employer’s setting.
- Gaps in employer coverage or policy limits.
- Defense in lawsuits if your employer’s insurance refuses or if you leave the company.
Having your own policy gives you continuous protection and peace of mind.
