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Old 10-19-2015, 01:35 PM
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Default Can we talk? Malpractice insurance

Every working nurse should have malpractice insurance.

About coverage, this is one of the things you ask before you buy. Some will cover you for something that happened whenever so long as you are paying premium NOW. Some will cover you for something that happened whenever if you were paying premium THEN. Ask. Never, ever be afraid to ask.

Some folks will say that they have heard that only people with insurance get sued, under the "deep pockets" theory of litigation, or that the hospital's insurance will cover you for nursing malpractice. Neither is true. Problem is that if your hospital has a judgment against them for something you did, they don't pay it, their insurance carrier pays it. And then, no matter what the hospital promises you, and maybe even if you were not personally named in the suit, the insurance carrier is entitled by law to recover their losses...from you, and don't think they won't. My dad wrote insurance on hospitals for years and told me never, never, never go "bare" (without my own insurance) unless I was perfectly comfortable living under a bridge, with no real estate, no money, and no car.

Yeah, I know, there are laws protecting some assets under bankruptcy. But they could garnish your wages more or less in perpetuity, and that wreaks hell with your credit rating. (Did you know that credit ratings are checked when you apply for jobs?) You wanna deal c that? Not I, since decent malpractice insurance is good for short money.

Make sure the policy you buy is clear to you: Does it cover you only while it's in force (while you're still paying for it), or does it cover you for things that happened while you were paying for it in the past, even if you aren't working now and don't think you need insurance? Be sure it pays for your own lawyer, too, or supplies one to defend you (never, never, NEVER rely on the hospital's lawyer to defend you-- conflict of interest there; they do not have your best interests at heart no matter what they say).
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Old 10-20-2015, 07:56 AM
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Default

Had it for years, but not for the last 8.

I am a state employee and covered that way and the most invasive thing I do is draw blood and I don't dig or do those side probes so I am not worried. The advice I give is by the book and I am very comfortable with my assessment skills and judgement.

However, if I worked in acute or long term care i definitely would have it still.
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Old 10-20-2015, 09:32 AM
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Renew it every year. Important to have coverage, best buy around and I hope I never need to use it.
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Old 10-21-2015, 06:23 PM
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Great advice! (Oops, accidentally submitted.)

My husband made another point a while back: we're married. His assets are mine. He makes 5x what I do, not including bonuses. If his company does well, his bi-annual bonus can exceed my income.

Some nursing families struggle financially, for example if they earn one of those so-little-it's-insulting wages, or if there is child support to be paid, or if a catastrophic illness or injury happens where the spouse is unable to work. Joint assets are still joint assets.

Neither of us is an attorney, but my DH made the point that a potential plaintiff could potentially go for not only what the nurse earns, but after his/her assets.

Last edited by Here.I.Stand; 10-21-2015 at 06:35 PM.
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