Are you going to rely on the insurance coverage and legal assistance providing by your employer?
The answer would be yes for the majority of nurses. Being named as defendant in a nursing malpractice case is scary to say the least. What's even more scarier is that you could have your own policy with its own limits for just a hundred or so dollars a year for RNs and LPNs. Maybe a couple hundred for NPs and CNSs, depending on your state. Now for CRNAs and CNMs is several thousand dollars at least.
I have professional liability insurance for my nursing practice and consulting practice and a different policy for my law practice. Guess what if by chance I am sued, I don't want to worry about:
1. A civil judgment against me; Do you an extra $200,000 to 1 million dollars in the bank?
2. A lien on my real property or the seizure of my personal property (depends on the state);
3. My wages being garnished;
4. Having to pay for an attorney out of pocket to defend me; Do you have $20,000.00 for an evergreen retainer which will need to be replinished every 3-6 months throughout the litigation?;
5. Questioning the motives and strategy of my employer's attorney but having to play along because I can't afford my "own attorney"; etc.
This doesn't even account for the stress and emotional rollercoaster you are going to be on for a few years while your case winds or should I say grinds through the system. Paying a few hundred dollars or a few thousand dollars for your own policy may have brought you a piece of mind in the litigation that you WILL NOT have now.
What are the chances of you being named as a defendant in a nursing malpractice lawsuit? Don't know the odds and I like to gamble but I wouldn't risk it. One thing about insurance is you don't need it until you need it and when you need it, you REALLY need it.
Maybe you trust your employer. I don't trust my employer and I am self-employed:)
I am working with nurses in these situations (who don't have insurance and who are named in a nursing malpractice case) and its a beast. I don't ask for much out of my nurse readers on this blog but one thing that I am asking is that you purchase your own professional liability insurance with a license defense protection benefit.
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