The Pros And Cons Of Professional Liability Insurance

Many professions require their members to carry basic liability insurance coverage. Anyone from a contractor, mechanic, and even construction worker is in a position to potentially need this type of coverage. Basic liability insurance provides a layer of protection that normally covers an individual for personal, bodily and property damage in the case of flawed workmanship (Joel, 2013). Beyond this basic coverage is professional liability coverage. Professional liability insurance or professional indemnity insurance is highly recommended for specific professions where individuals are often working in a capacity where an error or lapse in judgment may lead to significant harm of another. These policies go beyond basic coverage to accept the risk for negligence or inadequate services. Lawyers, doctors, and other healthcare providers, such as advanced practice nurses …show more content…
In all 50 states, it is a requirement for medical professionals such as APNs to carry liability insurance. This requirement is linked your licensure and approval is not granted without proof of coverage and attestation of the intent to remain insured (Nebraska Department of Health and Human Serives, 2014) (State of Connecticut, 2014). In all situations, the best offense is a prepared defense. APNs must be aware of the limitations of their practice and be willing to admit the need for consulting services when an unfamiliar case presents. It is imperative that APNs are always aware of their legal scope of practice, as this can vary from state to state. Becoming politically involved at the local and state level will provide opportunities to address inconsistencies in our profession and will allow practitioners to lend their voice to efforts calling for federally standardize practice regulations (Citizen Advocacy Center,