What kind of insurance is NSO?

Asked by: Jed Lakin  |  Last update: February 11, 2022
Score: 4.5/5 (70 votes)

Nurses Service Organization (NSO) is the nation's largest provider of nursing malpractice insurance, with more than 500,000 nurses insured in the program today. We know what nurses need, because we rely on nurses to tell us what products, services and educational resources you need to stay on top of your game.

Is NSO an occurrence insurance?

Your NSO professional liability insurance uses the occurrence form. * Which form you have determines when malpractice claims are covered—and not covered. This becomes important should a competitor attempt to switch you to a claims-made form, as you could experience a gap in protection.

Is NSO a good malpractice insurance?

NSO is a viable option for nursing professionals seeking malpractice insurance. The company is financially sound, they have strong reviews, and they offer discounts for students and recent graduates. They also have a reputation for being easy to work with whether you're trying to get coverage or file a claim.

What is NSO healthcare?

Description. Nurses Service Organization (NSO) and Healthcare Providers Service Organization (HPSO) offer professional liability coverage to a wide variety of healthcare businesses including Home Health Care Agencies, Rehabilitation Centers and Counseling Firms.

What is NSO liability?

Professional Liability Insurance for Nursing Students

To help insure your financial future and your career, consider professional liability insurance coverage through NSO. For as little as $35 a year, you will receive 24/7 coverage whether you're in school, change schools, or graduate.

Do you need malpractice insurance as a nurse? Liability insurance explained.

26 related questions found

Should RNS get malpractice insurance?

If you're a nurse, you may find yourself asking, “Do I really need nurses professional liability insurance?” The answer is simple: Yes. Just like doctors, mental health counselors, and other allied health providers, nurses run the risk of potential litigation every time they go to work.

Can I cancel my NSO insurance?

Would NSO cancel or non-renew insurance coverage due to a claim against a policyholder? Our current insureds and potential clients should not be concerned about the cancellation of their policy solely due to the reporting of an incident or claim.

Which malpractice insurance is best for nurses?

Best 5 Providers of Nursing Malpractice Insurance
  • CoverWallet: Best for Comparing Quotes (Online)
  • Medical Mutual Group: One of the Oldest Companies Providing Malpractice for Medical Professional.
  • Professionals Advocate: Best for Comprehensive Coverage.
  • Proliability: Best Option from a Well-Known Carrier.

How does malpractice insurance work?

Medical malpractice coverage is for legal claims arising from allegations of medical negligence and malpractice. This insurance helps to cover defense fees, expert witness costs, legal fees and settlement costs. ... If such a decision results in a lawsuit, malpractice coverage will protect you up to the policy limit.

When can I contact NSO?

If you have been contacted in regards to a lawsuit, or you suspect that you may be contacted in the future, it is important to contact us immediately, so we can proceed in your defense, if necessary. You can submit an online contact form​ or call us at 1-800-247-1500, between 8 a.m. and 6 p.m. ET.

What kind of insurance do nurses get?

Most full-time nurses (92%) get some kind of paid time off (vacation, sick days, personal/professional time), and 87% receive employee-subsidized health insurance. Sixty percent get an education allowance, and 45% get reimbursement for certification fees. Less than a quarter (24%) get bonuses or other incentives.

Do nurse practitioners carry malpractice insurance?

Malpractice insurance (i.e., professional liability insurance) protects nurse practitioners (NPs) and other clinicians from costs associated with claims of negligence or incompetence, including costs related to liability and legal defense. Two types of malpractice insurance are available: claims-made and occurrence.

What is considered malpractice in nursing?

Nursing malpractice occurs when a nurse fails to competently perform his or her medical duties and that failure harms the patient. ... Whoever is liable will be responsible for compensating the patient for the nurse's misdeeds.

What are the two types of malpractice insurance?

It is important to understand the two basic types of malpractice insurance: "claims-made" and "occurrence." A claims-made policy will only provide coverage if the policy is in effect both when the incident took place and when a lawsuit is filed.

What is Independent Contractor insurance?

Independent contractor insurance can be defined as any type of insurance that provides protection for the general liability, business operations, or business property of an independent contractor.

What is the difference between occurrence and claims made malpractice insurance?

An occurrence policy provides coverage for alleged incidents (injuries) that happened during the policy year regardless of when the claim is reported to the carrier. ... The renewed claims made policy covers claims that come in during the policy year for incidents that occurred on or after the retroactive date.

What is the difference between malpractice and liability insurance?

The difference between liability and malpractice insurance is simply that a malpractice policy is a variety of liability policy, which focuses specifically on protecting doctors, lawyers and other professionals if a client claims damages. Surgeons typically have malpractice insurance.

Is malpractice the same as liability?

Malpractice is a form of professional liability insurance. Different professions often have different forms or names of professional liability insurance. ... Professional insurance, on the other hand, is coverage for bodily injury or property damage that arises from services a professional provides.

Does liability cover malpractice?

Professionals who have expertise in a specific area require this type of insurance because general liability insurance policies do not offer protection against claims arising out of business or professional practices such as negligence, malpractice, or misrepresentation.

Do hospitals cover malpractice insurance for nurses?

An employer, such as a hospital, may also sue a nurse if negligence is alleged to recoup the money spent on a defense. In addition, if an employer goes bankrupt, a nurse may not be fully covered. Malpractice insurance covers nurses in all these situations and more.

What does aggregate mean in insurance?

For various types of insurance, an aggregate limit is the maximum amount of money an insurer will pay for all your covered losses during the policy period, typically one year.

What is tail coverage?

Tail coverage is an addition to a claims-made policy. It extends coverage for incidents that happened during the time you had your policy, but a claim was not filed until after your policy expired or was canceled. Tail coverage is another name for an extended reporting period.

Does NSO cover all states?

Helps insure you anywhere in the world provided a claim is brought against you in the United States, its territories and possessions, Puerto Rico, or Canada. Nurse Professional Liability Exposures: 2015 Claim Report Update, NSO, CNA, October 2015.

Can you have more than one malpractice insurance?

If the issue of two insurance policies covering an event arises, it will be dealt with between the insurance companies. Either policy may clearly state, for example, that if more than one policy exists for a covered event, one or the other takes primary responsibility for the coverage.

Are nurses insured?

Q: Does having individual professional liability coverage help nurses in disciplinary cases with boards of nursing? A: Yes. They are the named insured. One of the biggest things that an individual policy provides a nurse that an employer policy does not is a defense against board investigations.