What Is Nursing Malpractice Insurance?
It’s fairly common knowledge that doctors and lawyers need to maintain malpractice insurance, thanks in large part to the way malpractice claims have been mined for drama on television over the decades. What those dramas leave out is that malpractice insurance is also known as professional liability insurance, a form of coverage that many professionals need across a range of industries. It’s utilized in different forms by not only doctors and lawyers, but also financial professionals, consultants in various specialties, contractors, and even IT professionals. Similarly, nurses working as independent contractors or practitioners need nursing malpractice insurance of their own as a buffer against claims resulting from professional liability due to decisions made on the job.
Who Needs To Buy Malpractice Insurance for Nurses?
Nursing malpractice policies aren’t new, but they are becoming more and more popular. They’ve always been a necessity for nurse practitioners who act as clinicians in their own right, but in many workplaces, professional liability is covered by the employer for full-time employees. As more and more nurses take positions traveling or working in homecare environments as independent contractors, professional liability insurance costs are being passed on to them as self-employed professionals, the same way those costs are passed on to doctors and lawyers with their own practices. If you’ve recently moved into a position as an independent contractor, it’s time for a talk with an insurance provider about carrying your own professional liability coverage.