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30 Apr Insurance for Medical Professionals
Protecting Medical Professionals Against Financial Ruin
The prospects for a long and successful career in healthcare look exceptionally good, especially for nurses. Today, there are over 4 million professionally active nurses in the U.S. However, like any professional, accidents are bound to happen. Thus, insurance for medical professionals can be a must-have.
According to the Bureau of Labor Statistics, “Overall employment of nurse anesthetists, nurse midwives, and nurse practitioners is projected to grow 31% from 2016 to 2026, much faster than the average for all occupations.” The reason? There will be a greater demand for healthcare services from an aging population. As you’d expect, medical assistants, medical and clinical lab technologists and technicians will also be in even greater demand.
Insurance for Medical Professionals
While a career in healthcare could be very rewarding, it can also be very risky. More and more, nurses are being sued for negligence. In fact, the Nurses Service Organization (NSO) found that malpractice claims against registered nurses, licensed practical nurses, and licensed vocational nurses are on the rise. More than $90 million was paid in nurses’ malpractice claims over a five-year period.* To say they are vulnerable would be an understatement.
Unfortunately, many medical professionals make a common — and costly — mistake. They assume the hospital or practice will cover them in the event of a claim against them. Nothing could be further from the truth. Their employer’s coverage may be limited and not enough to cover the defense or settlement. The financial responsibility then falls on them.
Finding yourself in the midst of a lawsuit because of a simple mistake will undoubtedly put your finances and career in jeopardy. The reality is that even medical professionals who don’t make a mistake can still be sued for malpractice. Without the proper medical professional coverage, you run the risk being involved in a lawsuit.
Your best protection? Medical Professional Liability Insurance from XINSURANCE.
XINSURANCE, powered by Evolution Insurance Brokers through Prime Insurance Company, and excess and surplus lines carrier, has decades of experience writing insurance for the healthcare industry. We offer a new approach to insurance, with direct access to underwriting expertise, risk management assessments, advice, and outstanding customer service. Our underwriting team brings you over 30 years of experience, along with the ability to offer customized limits, coverage, deductibles, and premiums to create the perfect plan for your personal and business protection.
No matter your profession, it’s vital that you protect your career and finances today with XINSURANCE.
Call Logan Fitzgerald, SVP of Marketing, at (801) 304-5562.