What is Malpractice Insurance (aka Professional Liability Insurance) for nurses?
One of the biggest risks nurses face within the workplace is a medical malpractice claim. Medical malpractice is defined as professional negligence by a nurse, physician or other medical professionals while administrating a treatment or the omission of required medical treatment.
For a malpractice case to be made, it must clearly involve a person who has a duty of care, who demonstrated a failure to exercise care, resulting in injury or financial damages due to the failure of care.
Even if you are not found liable, a lawsuit can still be made for allegations that your practice failed to deliver promised services, displayed negligence while performing services or made critical mistakes and oversights while a patient was under your duty of care.
As a nurse, Malpractice Insurance is designed to provide peace of mind and financial protection, if you were faced with a claim for allegations of malpractice and could cover your legal defence costs.
Court costs can run into the hundreds of thousands of dollars, an added cost which many individuals cannot afford to financially bounce back from. Malpractice Insurance should be one of the first things you consider as part of your overall risk management plan, so you can focus on the things that matter like your patients and their improving their wellbeing.
Do nurses need their individual Malpractice Insurance?
While employers may provide some form of Professional Liability coverage, Malpractice Insurance provides additional coverage if a claim were to occur, so you’re not left in a situation without enough coverage in place. Being able to choose your own level and type of coverage, means you can have the right insurance coverage in place to suit your unique coverage needs.
It’s important to check what type of coverage your employer has in place, as it may not or stay in effect after you leave your employer. The employer’s policy may not provide coverage for the personal fees associated with the case, leaving you financially out of pocket.
Malpractice Insurance also covers any additional work done outside of the setting of your employer, which may not be covered. For example, if you stop to help someone in need of urgent medical assistance outside of work hours or if you volunteer at a free clinic, additional coverage may be required to ensure you are protected if a malpractice lawsuit was made against you.