Physician Assistants: Malpractice Insurance

Physician assistants should carry malpractice insurance, also known as professional liability insurance, to protect their assets, licenses, and reputations. This type of insurance covers clinically practicing physician assistants' exposure to liability arising from their profession, including allegations of malpractice. It offers essential financial protection as a malpractice lawsuit can be brought against a physician assistant at any time after treating a patient, which could jeopardize their professional reputation and credentials. Malpractice insurance provides legal representation and financial protection, covering legal fees and settlement costs. While some employers may provide malpractice insurance for their employees, it is recommended that physician assistants also have their own personal liability policy that can be carried between jobs. This ensures continuous protection for their license, personal assets, and financial future.

Malpractice insurance is recommended for all clinically practicing physician assistants

Most employers provide some level of malpractice insurance for their physician assistants. However, it is still recommended that PAs have their own personal liability policy that is portable between jobs and provides protection for their license, personal assets, and financial future. This is because employer-provided insurance may not fully protect the PA, and there may be limitations or conflicts of interest. For example, an employer may prefer a "global" settlement of any claim, whereas an individual policy would provide the PA with their own attorney to represent their interests.

There are two main types of professional liability coverage available to PAs: occurrence and claims-made policies. Occurrence policies cover incidents that happen during the policy period, regardless of when the claims are reported, and provide indefinite protection for each policy period. On the other hand, claims-made policies only cover incidents that occur while the policy is in force, and once the policy is terminated, coverage ceases to exist. If a PA wants coverage after terminating a claims-made policy, they must purchase "tail coverage".

The cost of malpractice insurance for physician assistants depends on various factors, including the desired amount of coverage, location of practice, years of experience, education, and time spent on the job. Typically, physician assistant malpractice insurance starts at around $1,757 per year, with liability limits ranging from $500,000 per claim/$1 million aggregate to $2 million per claim/ $6 million aggregate.

In summary, malpractice insurance is essential for clinically practicing physician assistants to safeguard their career, finances, and professional reputation. While employer-provided insurance may offer some protection, having a personal liability policy ensures comprehensive coverage and allows PAs to have their interests represented in the event of a malpractice lawsuit.

Malpractice insurance covers liability arising from your profession, including allegations of malpractice

Malpractice insurance is a type of professional liability insurance that covers liability arising from your profession, including allegations of malpractice. It is designed to protect your assets, license, and reputation. This type of insurance is essential for clinically practicing physician assistants (PAs) as it offers financial protection against malpractice suits, which can be brought against them at any time after treating a patient. A malpractice suit can jeopardize a PA's professional reputation and credentials, potentially leading to license revocation or suspension. Even if the suit does not result in these consequences, it becomes a public record that employers can use to disqualify the PA from future job opportunities. Therefore, it is crucial for PAs to have their own malpractice insurance policy that follows them wherever they practice.

There are two types of professional liability coverage available: occurrence and claims-made policies. Occurrence policies provide indefinite protection for incidents that occur during the policy period, regardless of when the claim is filed. On the other hand, claims-made policies only provide coverage for incidents that occur and are reported while the policy is in force. If a claim is filed after the policy has expired, additional tail coverage must be purchased to ensure protection.

When choosing a malpractice insurance policy, it is important to consider the coverage limits, consent-to-settle clauses, defense costs, and the financial stability of the insurance carrier. Most policies offer coverage ranging from $100,000 to $3 million per claim. It is also crucial to understand the specific incidents covered by the policy and ensure that it aligns with your scope of practice.

In addition to the standard coverage, some insurance carriers offer additional benefits such as telemedicine/telehealth coverage, license defense coverage, general liability, and sexual misconduct defense. It is recommended to review the policy agreement carefully and seek guidance from insurance specialists to determine the risks and coverage requirements for your specific situation.

By having their own malpractice insurance policy, PAs can protect their professional reputation, financial future, and personal assets. This type of insurance provides essential peace of mind, allowing PAs to focus on providing quality care to their patients without the constant worry of potential liability arising from their profession.

Employers may provide malpractice insurance, but it is recommended to have a personal liability policy

Physician assistants (PAs) are advised to carry professional liability insurance, also known as malpractice insurance, at all times during their clinical practice. This insurance covers their exposure to liability arising from their profession, including allegations of malpractice, and offers essential financial and professional protection. While most employers provide some level of malpractice insurance for their employees, it is recommended that PAs also have their own personal liability policy.

Having a personal liability policy offers several benefits. Firstly, it provides portability, allowing PAs to have continuous coverage as they move from job to job. This ensures that they are protected regardless of their employment status. Secondly, a personal policy safeguards a PA's license, personal assets, and financial future. By having their own policy, PAs can be certain that they have adequate coverage that specifically meets their individual needs and protects their interests.

There are two types of professional liability coverage available: occurrence and claims-made policies. Occurrence policies cover incidents that occur during the policy period, regardless of when the claims are reported. This type of policy provides indefinite protection for each policy period and does not require extended reporting endorsements or "tail" coverage if the PA takes a leave of absence or retires. Claims-made policies, on the other hand, only cover incidents that happen while the policy is in force. Once the policy is terminated, coverage ceases to exist, and tail coverage must be purchased separately if coverage is desired after termination.

When deciding whether to rely solely on their employer's insurance or obtain a personal liability policy, PAs should carefully consider their specific circumstances and needs. It is important to review the terms and conditions of the employer's policy, verify their named insured status, and understand the type of coverage provided. By having a personal liability policy, PAs can have peace of mind knowing that they are fully protected and that their professional reputation, credentials, and financial well-being are safeguarded.

There are two types of professional liability coverage: occurrence and claims-made

All clinically practicing physician assistants should carry professional liability coverage, often called malpractice insurance, to protect themselves from liability arising from their profession, including allegations of malpractice. There are two types of professional liability coverage available: occurrence and claims-made.

Occurrence policies cover incidents that happen during the policy period without regard to when the claims are reported. This means that an occurrence policy will cover an incident that occurred during the policy period, even if the claim is filed after the policy has been terminated. For example, if you had an occurrence policy in 2003 (which you terminated in 2005) and are sued in 2017 for an incident in 2003, you will be protected. Occurrence policies are relatively rare since insurers have difficulty estimating the cost of claims long after a policy expires.

Claims-made insurance, on the other hand, covers incidents that happen only while the policy is in force. Once the policy has been terminated, coverage no longer exists unless tail coverage is purchased. For example, if you had a claims-made policy in 2006 (which you terminated in 2008) and are sued in 2017 for an incident in 2006, you would not be protected unless you had purchased tail coverage. Claims-made policies are generally inexpensive at first and then gradually increase in cost over time.

It is important to recognise the type of insurance that is being offered and the limitations of each option. For instance, if a physician assistant switches from one insurance carrier to another due to a change in jobs or practice location, they may need to purchase additional insurance coverage, known as "tail insurance," to ensure they are protected. This is because claims-made insurance only protects you from malpractice claims if the company that insured you at the time of the alleged occurrence is the same as when the claim is filed.

Malpractice insurance typically starts at $1,757 a year but depends on factors like coverage, location, and experience

Malpractice insurance is a type of professional liability insurance that is highly recommended for all clinically practicing physician assistants (PAs). It covers your exposure to liability arising from your profession, including allegations of malpractice. This insurance offers essential financial protection and safeguards your professional reputation and credentials, as a malpractice suit can jeopardise them and cause your license to be revoked or suspended.

While most employers provide some level of malpractice insurance for their employees, it is recommended that PAs have a personal liability policy that is portable from job to job and protects their license, personal assets, and financial future. There are two types of professional liability coverage available: occurrence and claims-made. Occurrence policies cover incidents that happen during the policy period without regard to when the claims are reported, while claims-made insurance covers incidents that happen only while the policy is in force.

The cost of malpractice insurance for PAs depends on several factors, including coverage, location, and experience. Malpractice insurance for PAs typically starts at $1,757 a year. However, the price can vary depending on how much coverage you want, where you practice, and your years of experience, education, and time spent on the job. Coverage options can go up to $2 million per claim, with legal representation and defence costs included in addition to the liability limits.

When considering malpractice insurance, it is essential to review the policy terms and ensure that the coverage meets your specific needs and budget. It is also recommended to choose a reputable insurance provider with excellent service, innovative technology, and comprehensive coverage. Additionally, PAs should consider the type of policy, whether occurrence or claims-made, and ensure they understand the reporting requirements and limitations of each. By investing in malpractice insurance, PAs can protect their career, assets, and financial future in the event of a malpractice suit.

Frequently asked questions