Do You Carry Personal Malpractice Insurance

[Dixiecup]

If I did have malpractice insurance, I would never tell anyone.

[grapejam88]

I used to carry individual malpractice insurance, but was advised by the hospital risk management not to do so. Again, the "deep pocket" theory came up. Now, I don't really know what is the right thing to do. I know I haven't really anything that can be taken. My house and car are mine and can't be taken, and I haven't anything besides that. If I get the policy, then they have something to go after. If I don't get the policy, they have nothing. If getting a policy guarantees me at least the cost of the lawyer is covered then it might be worth my measly $100.00.

[nursinghumor]

And who exactly says your house, car and life savings can't be taken if you're sued? Who says your wages cannot be "garnished" till you're ready to collect Social Security.

When a lawsuit happens and you run up $20,000 in attorney's fees because the hospital doesn't have to/won't pay to defend you, the money's going to have to come from someplace.

If a hospital is going to get sued, they'll name you as an employee to get to the hospital whether you have personal insurance or not.

I'd rather have my own interests represented by my own attorney fighting for my malpractice insurance company, than the hospital's that could care less if I'm hung out to dry.

For $100 or so per year, it's worth it for the peace of mind.

Andrew Lopez, RN
http://www.4nursing.com

[MedicRN]

I do not want to take part in the "Deep Pockets Theory. I do not carry malpractice insurance as a paramedic (11 yrs old) nor do I plan to carry it as an RN (1 yr old). All my assets are (or will be) tranferred into Living Trust accounts or into my hubbys name (no fear there - extremely long-term committed relationship/marriage).

[nursinghumor]

Think I can safely speak for all of us that I hope being on the receiving end of lawsuit is something I'll never need to deal with.

With it being a definite possibility as a healthcare professional in a sue-happy world, like having car insurance where it isn't required by law, I'd buy it just to have the peace of mind.

Most policies will protect you before the state board of nursing, for acts as a good samaritan, first aid responder, etc as well as for formal malpractice lawsuits. For the $98/year it costs me, it is well worth it.

Andrew Lopez, RN
http://www.4nursing.com

[Sarracenia]

Yes. The immediate reason is that my school required everyone to get malpractice insurance. Now I realize that I just would not want to be caught without it. I am in California and I have a feeling that we have a few more sue-happy nutballs in this state than the rest of the United States. I just never know if I would run into them. And, God forbid, if I ever make a mistake, well.... with insurance, maybe I'll have a second chance at rebuilding my life.

[LizK]

Another thing to remember is if you are volunteering your services outside of the hospital, (at church doing blood pressure screening, assisting at Health Fairs) you might want to get that malpractice insurance. From what I've been told, the hospital insurance won't cover those activities.

[nursinghumor]

Yep, right you are Liz. Volunteer activies are usually not covered by employer policies.

Most employer's policies only cover you at work and while you are employed. Meaning if your changed jobs, and a year later a lawsuit was initiated, you wouldn't be covered by the hospital's insurance anymore.

Most malpractice policies for nurses are "occurrence" based, meaning you're covered for the policy period, even if the lawsuit isn't initiated for years later.

Considering you'll be named in most lawsuits so that they can get to your employer's deep pockets, I sleep better knowing I'm covered.

Andrew Lopez, RN
http://www.nursefriendly.com

[Shelly Levitt]

If you own a home, or have any other assest that amounts to anything & you are involved in a lawsuit and loose, a judgement could be filed and liens could be placed on your home and other personal property to satisify the judgement. If you have malpractice coverage the policy will provide you with free advice from attorneys.

[nursinghumor]

[ QUOTE ]
MedicRN said:
I do not want to take part in the "Deep Pockets Theory. I do not carry malpractice insurance as a paramedic (11 yrs old) nor do I plan to carry it as an RN (1 yr old). All my assets are (or will be) tranferred into Living Trust accounts or into my hubbys name (no fear there - extremely long-term committed relationship/marriage).

[/ QUOTE ]

So you were sued and when they went looking for money you say:

You don't have any assets, and you don't ever plan on working again? If that's the case fine.

If not, and you have to work, you can plan on having money deducted from every paycheck, disability check and social security check you ever get from now till you die, till a judgment is satisfied.

Hate to burst your bubble on marriage, but six out of ten end up in divorce. You'd be extremely lucky to have it last a lifetime.

Andrew Lopez, RN
http://www.4nursing.com