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Professional Liability Insurance In Nursing Essay

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Professional Liability Insurance for Nurses
Many people do not ponder on the possibility of some form of malpractice or misdiagnosis occurring during their time as patient. They put their trust solely in the healthcare provider. More importantly nurses hardly ever consider being the one that causes harm or the one whom neglects a patient, let alone misdiagnose a patient. When entering the nursing field one needs to look at all options that will help protect them from sustaining any loss. Many nurses in today’s time are purchasing profession liability insurance or more commonly known as professional indemnity. Professional indemnity helps pay for expenses that occur during malpractice, negligence, and misdiagnosis lawsuits.
The Oxford Shorter English Dictionary defines indemnity as “security or protection against contingent hurt, damage, or loss” (Cornock, 2011, p. 25). Professional indemnity is an agreement between a healthcare provider and an indemnity provider that financial cost will be covered when a malpractice, negligence, or misdiagnosis lawsuit is filed against the healthcare provider. Countless nurses take for granted the benefits of having professional indemnity. Most nurses believe that he or she will not need the protection of professional indemnity until it is too late (Cornock, 2011). In 2008 the average expense by accident year was approximately $45,000 for nurse practitioners insured through CNA Healthpro. These expenses do not include fees for attorneys,

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