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How much is the average caost of malpractice in insurance for a Physcian,Physcian Assistant or a Nurse?
I am considering something in the medical field and was wondering how much malpractice insurance was. Thanks
There is no way to estimate this without specifics. Professional Liability Insurance is based on many factors, including the type of practice, the type procedures performed, and often the location. A physician in one city where there is a history of a high number of suits being filed (regardless of the outcome) is likely to pay more than a physician in another area where the patient population tends to be less litigious. Also it will be based on the amount of coverage. Do you want $1million per occurrence, $6 million, this can also have a major effect on the premiums. Once practicing, the number of claims against you in the past (regardless of outcome) will affect the rate.
The exception in most cases is an RN who is not in advanced practice. They generally are covered by the facility where they work, and may have a small amount of personal coverage. The rates for an RN are about $240 per year, but most RNs carry only $100,000 per occurrence in coverage.