Nursing Insurance: What Type Of Coverage Do I Need?

The importance of nursing insurance cannot be understated. It protects nurses from common mistakes such as errors with medication, charting or documentation errors, and providing incorrect advice to the patient. Global studies have found out that approximately one of 300 nursing errors has resulted in the death of patients around the world.

At present, the Nursing and Midwifery Board of Australia enables midwives, registered nurses, and enrolled nurses to apply for a nurse insurance policy. Prior to signing up the indemnity insurance for nurses, the board requires everyone to have their own PI preparations or their third-party arrangements that are able to cover their civil liability and practice. In addition, the nursing insurance also involves automatic reinstatement of nurses, thus, ensuring that they can continue their professional operations regardless of any claims made by a patient.

Types of Professional Indemnity Insurance for Nurses

1. Professional Indemnity Insurance

Among the things that make nursing a rewarding and satisfying career is being able to assists and look out for everyone in times of sickness. While looking out for patients is the top priority of every nurse, it is important to note that having the proper insurance is imperative in protecting yourself from career-damaging allegations that are more than likely to lead into costly compensation.

In most cases, professional indemnity insurance for nurses gives everyone peace of mind if they encounter legal actions that may involve negligence or misconduct. By the same token, a nursing insurance policy will shoulder the legal and defense expenses as well as the costs of appearing in court and most especially the indemnification that is given to your patient. Best of all, it also covers public relations expenses that are necessary for defending your reputation and career as a nurse.

2. Public Liability Insurance

Another common type of nurse insurance is the public liability insurance which protects nurses from financial reductions that are associated with property damage and accidental injury claims while performing a job. Through public liability insurance, nurses can perform at their best without being worried about the damages involved if something went south.

3. Products Liability Insurance

Products liability insurance is a type of nursing insurance which safeguards nurses from legal damages caused by goods supplied and sold on their watch. Other than round-the-clock claims support, products liability insurance also provides run-off cover and liability claims as well as legal overhead that are linked with coronial inquiries, body registration complaints, and disciplinary hearing or trials.

4. Cyber Liability Insurance

Cyber liability insurance is a type of nursing insurance that can be utilised in an event that your laptop or computer with important patient details is hacked or compromised. This specific type of nurse insurance will protect nurses from the legal expenses that are connected with any stolen patient information.

Although most nurses try to avoid making errors, it is no secret that having the right nurse insurance will put everyone’s mind at greatest of ease. To find out more about nursing insurance, give GSK Insurance a call today for an estimate.

Andrew Harding is very passionate about journals; he is also a author who writes for Insurance Brokers to Avoid Common Claims.