NewPA5757 Posted July 8, 2023 Share Posted July 8, 2023 Hello all, I am and new graduate and am curious what insurance carrier you use for you malpractice insurance and how much that costs. I am trying to price things out because I know it's not cheap! Thank you in advance! Quote Link to comment Share on other sites More sharing options...
SedRate Posted July 8, 2023 Share Posted July 8, 2023 Your employer should pay for this. There are downsides as the insurance company is working for the employer and not you, so you can look into getting your own as an extra layer of protection. Search supplemental insurance, etc, on this forum for more info. Always have your name listed on the certificate of insurance. And double check everything looks good. 1 Quote Link to comment Share on other sites More sharing options...
NewPA5757 Posted July 8, 2023 Author Share Posted July 8, 2023 Thank you for the advice! I’m looking to work for a private practice and his insurance coverage does not seem like nearly enough to me! I like every thing else about the practice other than the insurance coverage. So I was planning on getting my own coverage so I feel comfortable working in that setting. Quote Link to comment Share on other sites More sharing options...
SedRate Posted July 9, 2023 Share Posted July 9, 2023 21 hours ago, NewPA5757 said: Thank you for the advice! I’m looking to work for a private practice and his insurance coverage does not seem like nearly enough to me! I like every thing else about the practice other than the insurance coverage. So I was planning on getting my own coverage so I feel comfortable working in that setting. You're welcome. By "his" insurance, are you referring to an umbrella policy? If you're talking about being insured under someone else's policy, I'm not familiar with that and won't be of much help. Hopefully someone else can chime in on the nuances of that. I recommend discussing this with the insurer/insurance company directly to make sure things are done properly. How much coverage you need really depends on what field you're in and the likelihood of getting sued: higher coverage for higher risk fields. Some hospitals also require certain minimums in order to obtain privileges, but I'm guessing you're working outpatient so you won't need to worry about that. You can also have a higher policy for peace of mind albeit it's more expensive -- up to you and what your employer is willing to pay for. Some employers won't offer to pay for anything beyond what they are already providing. Just make sure it's appropriate for the work you'll be doing. Having worked in a few private practices, I've had my own policies as well as umbrella policies, occurrence, claims made, etc. They come in all shapes and sizes. At the bare minimum, make sure you have the appropriate minimum coverage. Do not rely on your employer to make this happen as they are not always experts themselves. I worked for a private hospital hospital once and they messed up my COI on more than one occasion. Also just fyi, if it's claims made, they should pay for tail coverage. Quote Link to comment Share on other sites More sharing options...
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