What do the best malpractice insurance policies cover?
Malpractice insurance (also known as professional liability insurance) is designed to help protect your healthcare career and license from malpractice lawsuits and licensing board investigations. It is wise to choose a malpractice insurance provider that understands the unique risk exposures you may face and prioritizes your needs.
Healthcare Providers Service Organization (HPSO) is a leading provider of professional liability insurance and risk management resources to healthcare providers. Our mission is to safeguard your livelihood through 24/7 coverage that focuses on you. With over 40 years of experience insuring healthcare professionals, we are dedicated to helping bring you peace of mind to focus on what matters most – providing care for your patients.
View a complete list of HPSO malpractice insurance
policy features and descriptions!
How to choose the best malpractice insurance for healthcare providers?
As you research malpractice insurance providers, there are key factors you may wish to consider to help you make an informed decision.
Some examples include:
- Features of the policy
- Company history and business mission
- Underwriting carrier partners (including the length and stability of their partnership)
- Industry advocacy
- Customer reviews
HPSO is one of the nation’s leading providers of insurance solutions and risk management resources for allied healthcare students, professionals, and businesses. Our work is driven by our decades of experience and steadfast support for the healthcare community. Over one million healthcare professionals trust us for their coverage needs.
At HPSO, our mission is to promote advocacy, risk management education, and support for healthcare professionals. Read more
about HPSO and how we firmly stand with healthcare professionals through tailormade solutions and robust risk education materials.
What is the best malpractice insurance for healthcare professionals?
Ultimately, you understand your needs better than anyone and will make an informed decision about what malpractice insurance program suits you. We strongly encourage you to consider individual professional liability insurance that focuses on you rather than relying solely on employer-provided coverage. This is due to the fact that employer coverage may not be sufficient for healthcare providers.
HPSO malpractice insurance prioritizes the individual needs of allied healthcare professionals.
HPSO malpractice coverage policies include protection of licensure to help protect your career through both the good times, as well as the more difficult moments. Our malpractice coverage reflects our unyielding support to healthcare providers everywhere.
- 1,000,000k+ healthcare professionals insured
- 200+ healthcare professions covered
- 40+ years providing insurance solutions
- 40+ national, state and specialty professional association partners
Do healthcare providers need professional malpractice insurance? What is the difference between individual and employer coverage?
The decision to obtain malpractice insurance is ultimately yours to make. It is strongly recommended to secure individual malpractice insurance as an added layer of protection. There are important distinctions between your HPSO malpractice coverage and your employer-provided insurance. Identifying these key differences illustrates the crucial role individual malpractice insurance plays in safeguarding your career, license, and financial future. On the other hand, your employer’s plan may only deliver partial coverage, leaving you exposed to various risks.
Employer-Provided Malpractice Coverage:
- Professional liability limits are likely shared with other healthcare providers (this may not be adequate coverage if an incident occurs)
- The majority do not include license protection (your employer could be the one to file a complaint against your license!)
- Does not include portability (you’re only covered while at place of employment under their policies and procedures)
- Does not provide 24/7/365 coverage (only provides coverage while you are on the clock)
HPSO Malpractice Coverage:
- Includes professional liability (focused entirely on you)
- Includes license protection (helps defend you to your State Board)
- Includes portability (if you move, switch jobs, or volunteer, you’re still covered!)
- Includes 24/7/365 coverage (you’re covered on and off the job!)
- Provides you with your own defense attorney (looking out for your best interest, if needed to represent you in court)
It’s key to understand that your employer-provided insurance is designed to protect the business, because it is the primary subject of the policy. Therefore, as an employee of the business, your best interests will always come second. In the event of a malpractice lawsuit, if there is a conflict of interest, your position may be at risk. Meanwhile, with individual professional liability insurance through HPSO, you are the subject of the policy, and your best interests are always the priority.
The Importance of License Protection
It is key to understand the role of license protection in connection to employer coverage. In addition to the risk of a medical malpractice lawsuit, a board complaint can be made against your license for any reason by anyone, such as:
- Patient
- Patient family member
- The hospital
- Colleague
Most employer-provided coverage does not offer defense of your license to the board because it may be your employer who submits the complaint. You could be left to deal with a costly and extremely stressful license defense matter on your own.
That’s why HPSO professional liability coverage includes license protection as part of the policy. We understand how hard you’ve worked for your license and what it represents – your livelihood, career, and ability to practice. We’re passionate about helping protect what you’ve worked diligently to achieve, and our coverage reflects that by putting your needs first.
What is the cost of malpractice insurance for healthcare providers?
The cost of an individual professional liability policy will vary depending on the company. At HPSO, we pride ourselves on providing cost-effective insurance solutions for healthcare professionals.
While your specific premium is calculated based on various factors – such as your profession, state of residence, and whether you are employed part-time or full-time – we work with you to provide coverage that meets your needs. Let us answer everything you need to know about
HPSO malpractice insurance.
Additionally, we offer several ways to help make coverage more affordable:
- Flexible payment plan options
- 3-year discount program for new graduates**
- 60% discount Year 1, 40% discount Year 2, 20% discount Year 3
- Discounts available for certain association members, students, retirees and leave of absence
- Risk management discount opportunities
Have more questions or need assistance?
If you have any additional questions or concerns about professional liability insurance, HPSO is here to help! Explore our
detailed FAQs or get in touch with our support team today by calling
1-800-982-9491 (Monday – Friday, 8:00 am – 6:00 pm ET). We’ll be happy to assist you!
*Rates may vary by state.
**Must apply within 12 months of graduation to receive 3-year New Graduate Discount. Discount does not apply to new or existing policyholders who have graduated over 12 months ago. New Graduate Discount may vary and is subject to state approval.