PROFESSIONAL LIABILITY INSURANCE

Malpractice insurance is a type of professional liability insurance purchased by healthcare professionals. This insurance coverage protects healthcare providers against patients who file suits against them under the complaint that they were harmed by the professional’s negligence or intentionally harmful treatment decisions. Malpractice insurance also covers the death of a patient.

• Malpractice insurance is a type of professional liability insurance intended to cover healthcare professionals.
• Patients can file lawsuits against healthcare professionals seeking damages for medical negligence that resulted in further health problems or death.
• Studies show that medical negligence is the third leading cause of death in the United States, so more likely than not, a healthcare professional will need malpractice insurance.
• Malpractice insurance can be obtained through a private insurer, through an employer, or through organizations, such as medical risk retention groups (RRGs).
• The two basic types of professional liability insurance are claims-made policies or occurrence policies.
• Legal costs, punitive damages, and medical damages are all covered under malpractice insurance.

Malpractice insurance for nursing assistants safeguards personal assets in case of an unexpected accident. The policy covers the fees for legal obligation and other financial losses that could occur in the event of being named in a medical malpractice lawsuit. Malpractice insurance for nursing assistants is a way of protecting the personal interests of nursing assistant professionals from potential damages.

A Nursing assistant helps patients with the activities of daily living and other healthcare needs under the direct supervision of a registered practical nurse. Because nursing assistants are responsible for direct patient care, helping nurses, and other healthcare providers with treatments, procedures, and tests, they are at risk of being held liable for any professional negligence. As a nursing assistant, you could be held accountable in a medical malpractice lawsuit just for being in the room or being the liaison, whether the task at question was of your doing or not. Nursing assistant insurance coverage is designed to protect personal assets and cover unexpected legal costs in the event of a lawsuit.

Nurse assistant insurance coverage includes:

• Occurrence form coverage
• Portable coverage
• Unlimited defense coverage
• Optional General Liability and Property Coverage
• State licensing board defense coverage
• Deposition expense coverage
• Medical expense coverage
• Assault coverage
• First aid coverage
• Financial Stability

Nurses perform a wide range of services, which makes having liability insurance essential. Coverage is designed to provide protection for unexpected expenses that can result from a legal claim, whether the accusation is true or false. Professional malpractice insurance for nursing assistants is portable and gives healthcare professionals peace of mind, even if they change jobs.

It is important that all CNAs have an individual certified nursing assistant liability insurance policy that is separate from any employer policy. Many healthcare professionals make the mistake of solely relying on an employer’s policy and eventually find out that insurance only provides partial or no coverage at all. Malpractice plans can help protect a nurses future. Whether working directly with patients, in support of other healthcare professionals, or in a specialized nursing profession, They are exposed to the risk of a malpractice suit just like any healthcare professional. And just one lawsuit can put a nurses ability to practice as well as their financial future in jeopardy.

Medical negligence can happen during diagnosis, during treatment, or as part of the advice given for treatment after an illness. Approximately 250,000 deaths in the U.S. arise from medical errors every year. Some studies show that more than 17,000 malpractice lawsuits are brought to healthcare professionals every year in the United States. An average U.S. medical professional can expect to have a malpractice lawsuit brought against them once every seven years. This underlines the importance of having malpractice insurance for a healthcare professional.

States require that medical professionals have current malpractice coverage to work in hospitals and other medical facilities. Medical malpractice insurance premiums are usually based on the physician’s speciality and geographic location, not on claims experience. This means that even if a physician has never been sued, they can end up paying extremely high premiums. The premiums can be high because of such factors as the amount of coverage needed, claims severity, claims frequency, location of practice, and laws in the area.

Types of Malpractice Insurance

There are many options for malpractice insurance. In the most basic form, an insurance policy can be purchased for an individual or group by a private insurer. Individual or group policies can also be purchased by a medical risk retention group (RRG). An RRG is a group of medical professionals organized to provide malpractice insurance. Another option for obtaining malpractice insurance is under the coverage plan of an employer, such as a hospital.

Individuals that work as medical professionals under the government do not need to obtain malpractice insurance as the federal government insures against liability claims. Insurance can often also be obtained through state and local agencies if the situation deems it necessary.

The two types of policies that a healthcare professional can purchase are a claims-made policy or an occurrence policy. A claims-made policy only covers claims if the policy was in effect when the treatment occurred and when the lawsuit was made. An occurrence policy covers any claim that was made on a treatment that occurred while the policy was in effect, even if the policy has since expired. The types of costs covered under a malpractice policy are wide. They include all legal fees, such as lawyer fees, settlement and arbitration costs, medical damages, and punitive damages.