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What is Malpractice Insurance for Nurse Practitioners?

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  • Written By: Mary McMahon
  • Edited By: Kristen Osborne
  • Last Modified Date: 29 January 2020
  • Copyright Protected:
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Malpractice insurance for nurse practitioners is an insurance product for nurse practitioners concerned about liability incurred in the course of doing their work. Nurse practitioners can purchase insurance to cover them in the event of malpractice suits, along with other issues that may come up. If the policyholder is named in a suit, the insurance company can assist with preparing a defense and paying damages in the event the suit goes to court and is ruled in favor of the plaintiff. Nurse practitioners concerned about the affordability of malpractice insurance can often receive a discounted rate by going through a professional organization.

Medical facilities like hospitals and clinics usually carry large blanket insurance policies. When employees are named in suits, these policies will provide coverage and for some people, this may be sufficient. In other cases, separate malpractice insurance for nurse practitioners is needed. People who freelance and provide traveling nursing services may not be adequately covered, for example, or they may work in high risk specialties like obstetrics where the hospital policy may not provide enough coverage.

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People considering the purchase of malpractice insurance for nurse practitioners can meet with supervisors, as well as insurance representatives. A supervisor can provide more information about whether a care provider is covered under a general policy and how much coverage is offered. Supervisors may also specifically recommend purchasing malpractice insurance for nurse practitioners based on experience and the nurse's status with the organization. An insurance agent can help a nurse practitioner select the right insurance product for his needs.

This is a form of professional liability insurance. Most insurance providers offer malpractice insurance for nurse practitioners and may offer discounts to people buying bundled insurance policies. Professional nursing organizations also commonly provide insurance at discounted rates to their members. Rates and coverage are negotiated in advance. By going through a professional organization, nurse practitioners can access insurance tailored to their specialties.

Prices for malpractice insurance can vary depending on the type of coverage, and the specialty a nurse practitioner focuses on at work. When considering their options, nurse practitioners may want to get several quotes and should look at the costs for varying levels of coverage. It can also be helpful to look up damage awards in malpractice cases to get an idea of the kind of coverage needed. Damages in some specialties tend to be larger than in others, and it is advisable to seek out specialty-specific examples.

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