Nurses’ involvement in medical care exposes them to potential malpractice claims. Though nurses are only named as defendants in a small minority of medical malpractice claims, the risk to your finances and your nursing license from a lawsuit is too great to forgo professional liability insurance. To help you choose the best liability insurance for nurses, we compared company ratings, National Association of Insurance Commissioners (NAIC) complaint index rates, AM Best financial stability ratings, coverage limits, and costs. These are the best liability insurance companies for nurses in 2023. 5 Best Nursing Liability Insurance Companies 5 Best Nursing Liability Insurance Companies Final Verdict FAQ Methodology Why We Chose It NSO’s liability policies, given as a benefit of membership in the American Nurses Association (ANA), offer comprehensive coverage at a low cost with limits up to $6 million aggregate (HPSO, NSO’s sister company, also offers policies provided by Affinity Healthcare). Pros & Cons Pros High aggregate limits up to $6 million Portable, comprehensive coverage Offers endorsem*nts for consulting services and cosmetic procedures Occurrence-form coverage available in most states Cons More complaints than expected with the NAIC Overview NSO offers aggregate limits of up to $6 million and $1 million per claim. If your claim is covered, NSO might pay your legal representation fees in addition to your liability limits. Coverage for sexual misconduct, HIPAA violations, license protection, and personal injury are all included. Though not available for nurse practitioners in Florida, occurrence-form coverage is available in most states. Also, your coverage is portable and extends to volunteer work. However, sub-limits are not as robust as what CM&F offers, and the company that underwrites policies for NSO received more complaints with the NAIC over the last three years than would be expected given the underwriter’s size. This is an indication that there may be issues with customer satisfaction. The company has an A financial strength grade with AM Best. Plan Pricing For $1 million per incident and $6 million in aggregate coverage, a policy from NSO starts at $104 for W-2 employees, including fees. Add-Ons Why We Chose It CM&F Group boasts the top financial strength grade, provides excellent customer service, and received no NAIC complaints, all while providing comprehensive occurrence-form coverage. Pros & Cons Pros A++ financial strength grade with AM Best Occurrence-form coverage No complaints with the NAIC Quick and convenient live chat customer service Covers up to $2 million per claim Cons May need to email to request custom limits Overview CM&F Group stands out for having great customer service (we got live chat assistance in just 10 seconds) and no complaints with the NAIC, which is a good indicator of customer satisfaction. CM&F also received the top financial strength grade from AM Best, which means there’s an excellent chance the company will meet its financial obligations to you. Coverage is occurrence-form, covering claims for all incidents that occurred while the policy was in effect, even if you file a claim after your policy period is over. CM&F offers aggregate limits of up to $6 million per policy year and per-claim limits of up to $2 million, the highest of the companies we reviewed. However, you’ll need to email any requests for custom limits, as there are only two options in the online quote tool. Policies for nurses offer license defense coverage, sexual misconduct coverage, and HIPAA defense coverage as well. CM&F will pay the defense costs for covered claims beyond the liability limits. Coverage is portable, too—it covers you even if you volunteer or pick up shifts somewhere else. Plan Pricing We collected sample quotes for nurses in California, and the price was just $102 for limits of $1 million per claim and $6 million aggregate, making CM&F the cheapest professional liability insurance provider for self-employed nurses. Add-Ons Why We Chose It Proliability received no complaints with the NAIC and offers occurrence-form, portable coverage with high aggregate limits. Pros & Cons Pros No complaints with the NAIC Endorsem*nts available Occurrence-form coverage Free risk management services Cons Expensive for self-employed nurses Relatively low medical payments limits Overview Proliability stands out for customer satisfaction, with no complaints with the NAIC. Per-incident limits of up to $1 million are available, and you can get up to $6 million in aggregate coverage per year. However, sub-limits are lower than some competitors, especially for medical payments. Proliability’s policy for nurses includes multiple coverages, including sexual abuse/molestation and HIPAA coverage, and licensing board reimbursem*nt. For covered claims, Proliability will pay for legal representation beyond liability limits. And coverage is occurrence-form and portable. Proliability holds an A financial strength grade with AM Best, which is considered excellent. Additionally, Proliability is very affordable for W-2 employed nurses. However, self-employed nurses will pay high premiums. Plan Pricing Pricing starts at just $101 per year for an employed registered nurse (RN). Proliability provides discounts for holding certain accolades or taking a risk management seminar. Our sample quote for a self-employed nurse was $387 per year. Add-Ons Why We Chose It Coverwallet allows you to compare prices across up to 10 liability insurance companies with just one application, resulting in the cheapest average quotes we could find for employed nurses. Pros & Cons Pros Compare prices from top insurance carriers Up to $6 million in aggregate annual coverage Quotes for employed nurses start at $97 per year Cons May result in emails from multiple insurers Mixed customer service reviews Overview Coverwallet is a small business insurance broker that provides quotes from up to 10 companies at once. Having multiple choices to compare allows you more policy customization and may help you find the cheapest price. Coverwallet’s quotes for W-2 employed nurses were the lowest we could find. Be aware that you’ll likely receive marketing emails from the companies in your quotes. Coverwallet offers high sub-limits for medical payments. The broker offers per-claim limits of up to $1 million and aggregate limits of up to $6 million per policy year. You can also get other types of small business insurance coverage through the company. The company’s customer reviews on sites like Trustpilot and the Better Business Bureau are mixed. Plan Pricing Annual premiums from Coverwallet start at $97 for employed nurses and $106 for self-employed nurses. Add-Ons Vary by insurer Why We Chose It NOW Insurance offers affordable rates for self-employed nurses, with the option to select higher deductibles to reduce your premium. NOW Insurance is backed by Lloyd’s of London. Pros & Cons Pros Affordable premiums Customize your limits and deductible Live chat support Cons Few policy details available online Relatively low sub-limits for some coverages, like license protection and first aid Claims-made coverage Overview NOW Insurance offered the second-cheapest rate for self-employed nurses during our research. The company is backed by Lloyd’s of London, which has no complaints with the NAIC and holds an A financial strength rating with AM Best. NOW Insurance’s online policy details aren’t as transparent as some companies, and coverage is claims-made, which means you’ll only be covered while your policy is in effect. Sub-limits are also relatively low or not disclosed for many coverages. NOW Insurance offers liability limits of up to $1 million per claim and $6 million aggregate. You can choose a $1,000 or $2,500 deductible. NOW Insurance also offers general liability coverage. Plan Pricing Premiums for employed and self-employed nurses are just over $106 per year for $1 million per claim and $6 million aggregate per policy year. Add-Ons CM&F Group is our top pick for most nurses since it offers great customer service and the most robust coverage at affordable prices. But if you’re a member of the ANA, you might choose to go with NSO, which the ANA endorses. And if you’d like to compare benefits and pricing across companies, Coverwallet is a good fit. If you’re a W-2 employed nurse, Proliability is another good option, and if you’re self-employed, you might go with NOW Insurance—just make sure you understand how the policy works before you sign up. The American Nurses Association (ANA) recommends that nurses carry their own professional liability policy, since their employer’s policy may not be sufficient for some claims. Additionally, forgoing liability insurance can leave you vulnerable to lawsuits. The average cost of a medical malpractice claim for an RN is $210,513, which could potentially destroy your finances. Based on quotes we collected from nursing liability insurance companies, the median cost of a policy is $102 for W-2 employed nurses and about $110 per year for self-employed nurses. Death is the most common injury resulting in malpractice claims, accounting for 40.9% of malpractice lawsuits brought against nurses. In addition to evaluating the customer service process ourselves and reviewing third-party websites for complaints, we evaluated eight criteria for 11 different nursing liability insurance companies.5 Best Nursing Liability Insurance Companies
Great for High Coverage Limits : NSO
Best for Occurrence-Form Policies : CM&F Group
Great for Customer Satisfaction : Proliability
Best Broker : Coverwallet
Great for Self-Employed : NOW Insurance
Final Verdict
Frequently Asked Questions
Should Nurses Have Liability Insurance?
How Much Is Nursing Liability Insurance?
What Is the Most Common Cause of Nurse Liability?
Methodology
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FAQs
Should nurses purchase their own professional liability insurance? ›
Some nurses believe that despite facilities having coverage for you, they might protect themselves first, referring to it as “throwing you under the bus.” It is advantageous to have personal liability insurance. If you get sued, facilities might limit coverage, and you could be responsible for the rest of the claim.
Which type of insurance is generally preferable for the majority of nurses? ›Commonly purchased by nurses in California, general liability insurance can protect your business from expenses associated with common mishaps, such as client property damage and injuries.
What is an example of how professional liability insurance protects nurses? ›Accusations of negligence
For example, a patient could claim that a nurse's neglect caused bed sores. If the patient files a lawsuit, professional liability insurance can cover legal expenses, such as the cost of hiring an attorney.
“NSO is the only malpractice insurance I'll ever have.”
“Working as a Nurse Practitioner, I was sued by a non-compliant patient. The best thing was having NSO malpractice insurance. From the moment I notified them of my lawsuit I felt protected and supported. You owe it to yourself to have your own coverage.
Nurses can best avoid a malpractice claim by communicating effectively with patients and doctors, documenting all medical data, following standards of care, and verifying all patient and drug information before administering prescriptions.
Why purchase professional liability insurance? ›Professional liability insurance, also known as Errors & Omissions (E&O) coverage, can help professionals such as real estate agents, accountants, lawyers, design professionals and consultants protect themselves against losses resulting from negligence, errors and omissions in the performance of their professional ...
What are the 4 recommended type of insurance? ›Most experts agree that life, health, long-term disability, and auto insurance are the four types of insurance you must have. Employer coverage is often the best option, but if that is unavailable, obtain quotes from several providers as many provide discounts if you purchase more than one type of coverage.
What is nursing insurance called? ›Nursing malpractice insurance, also known as nursing liability insurance, is financial protection designed to cover judgements, settlements, along with legal expenses of nursing professionals in the case of a malpractice lawsuit.
What type of healthcare insurance coverage is most common in America? ›Private health insurance is the predominant source of health insurance coverage in the United States.
What is nurse liability? ›A nurse may be liable for injury to a patient if it was caused by negligence. They are responsible for providing appropriate medical treatment for those who are assigned to their care.
Is proliability insurance legit? ›
Proliability is one of the few companies that serves multiple industries and offers both low-cost options and higher tiers of coverage. With decades of experience and an excellent reputation, you can also qualify for discounts to further lower your premium and make your insurance policy more affordable.
What is an example of a healthcare liability? ›Some examples of health care provider actions for which a hospital could be vicariously liable include: A doctor who misdiagnoses a patient. An OBGYN who makes a mistake during a patient's pregnancy or childbirth. A doctor who errs in the prescription or administration of a medication.
How long does it take to get NSO insurance? ›Your coverage can begin once your completed application is approved and payment is received. In most cases, this can be done in one day if you apply online. If you decide to fax your application (1-800-739-8818), it can be processed within 2-3 business days.
Which state has the highest malpractice insurance? ›Direct premiums of medical professional liability insurance market U.S. by state 2023. In 2023, the value of direct premiums earned by the medical professional liability insurance market in the United States was highest in the state of New York.
Does NSO cover HIPAA? ›NSO nurse malpractice insurance covers you in a variety of ways. The policy includes professional liability coverage, sexual misconduct/abuse protection, information privacy coverage (HIPAA), license protection, personal liability coverage, and many more features that will protect you in your nursing career.
Should all healthcare professionals get professional liability insurance? ›There are several reasons why professional liability insurance is more important than ever. First, medical malpractice claims are constantly on the rise, leading to a higher risk of a patient or family member suing you when they feel dissatisfied with the care they or their loved one received.
Should nurses always carry their own personal malpractice insurance Quizlet? ›Which terms are pertinent to negligence? Should nurses should always carry their own personal malpractice insurance? No, because nurses need to make their own decisions regarding the extra fees that are associated with personal malpractice insurance.
Why is personal liability insurance important for healthcare professionals? ›If you provide healthcare services to patients or clients, you should have adequate individual insurance coverage in the event that you accidentally misdiagnose a patient, offer inappropriate advice, or are sued for another reason related to your professional services.
Is it good to have professional liability insurance? ›Every business owner tries to run their company perfectly, but mistakes can happen. If they do and the mistake financially harms your client, it can lead to a lawsuit. Professional liability insurance can help protect your business if someone sues you for making a mistake in your professional services.