NSO Insurance for Nurses: Everything You Need to Know

The nursing profession is one of the noblest and most demanding careers in the world. Nurses provide care, compassion, and support to patients in need. However, it is also a profession that involves risk, and the possibility of errors or accidents is always present. That’s why having professional liability insurance, such as NSO insurance, is essential for nurses. In this article, we’ll discuss everything you need to know about NSO insurance for nurses.

What is NSO Insurance?

NSO stands for Nurses Service Organization, and it is a subsidiary of Aon Affinity. NSO insurance is a type of professional liability insurance that provides coverage for nurses in case of malpractice or other claims arising from their professional services. This insurance policy can protect nurses from the financial burden of defending against a malpractice claim or paying damages if found liable in a lawsuit.

What Does NSO Insurance Cover?

NSO insurance covers nurses for the following:

• Professional liability claims: This includes claims related to malpractice, errors, omissions, or negligence in the nursing profession.
• License protection: This covers legal fees and expenses related to disciplinary hearings and investigations by state boards of nursing.
• Defense costs: This covers the expenses incurred in defending against a lawsuit, such as attorney fees, court costs, and expert witness fees.
• Personal injury: This covers claims of bodily injury or property damage caused by the nurse while performing their professional duties.

It is important to note that NSO insurance policies differ depending on the insurer and the individual policy. It is essential to read and understand the terms and conditions of the policy before purchasing.

Who Needs NSO Insurance?

All nurses, including registered nurses (RNs), licensed practical nurses (LPNs), and nurse practitioners (NPs), should consider purchasing NSO insurance. This is because the nursing profession involves risk, and even the most skilled and experienced nurses can make errors or face claims of malpractice. Without insurance, nurses could face significant financial losses and harm to their professional reputation.

How Much Does NSO Insurance Cost?

The cost of NSO insurance depends on various factors, such as the nurse’s specialty, location, and previous claims history. On average, the annual premium for NSO insurance ranges from $100 to $500, depending on the level of coverage and the insurer. Some employers may provide NSO insurance coverage as part of their benefits package, but it is essential to review the coverage amount and terms.

NSO Insurance Policy Overview

NSO Insurance Limits and Deductibles

NSO insurance policies typically have two types of limits: per claim and aggregate. The per claim limit is the maximum amount that the policy will pay for a single claim, while the aggregate limit is the maximum amount the policy will pay for all claims in a policy period. Deductibles are the amount that the policyholder must pay before the insurance coverage kicks in.

For example, an NSO insurance policy may have the following limits and deductibles:

The limits and deductibles may vary depending on the insurer and the policyholder’s preferences.

NSO Insurance Claims Process

If a nurse faces a claim of malpractice or other professional liability, they should notify their insurer as soon as possible. The insurer will assign a claims adjuster who will investigate the claim and determine if it is covered under the policy. The insurer will also provide legal representation and pay for the defense costs if necessary. If the claim is settled, the insurer will pay the damages up to the policy limits.

NSO Insurance Renewals

NSO insurance policies are typically annual, and policyholders must renew their policies before the expiration date to maintain coverage. The terms and conditions of the policy may change upon renewal, and it is essential to review the policy before renewing.

FAQ

Is NSO Insurance Mandatory?

No, NSO insurance is not mandatory for nurses. However, it is highly recommended to protect yourself from the financial burden of a malpractice claim or other professional liability claims.

Can I Purchase NSO Insurance Online?

Yes, many insurers offer the option to purchase NSO insurance online. However, it is essential to research the insurer and review the policy terms and conditions before purchasing.

Can NSO Insurance Cover Claims Outside of the United States?

NSO insurance policies typically provide coverage for claims that occur within the United States and its territories. If a nurse practices outside of the United States, they should consider purchasing international professional liability insurance.

How Can I Lower my NSO Insurance Premium?

To lower your NSO insurance premium, you can consider the following:

• Increasing your deductible
• Choosing a lower coverage limit
• Having a good claims history
• Participating in risk management programs

Can NSO Insurance Cover Claims from Previous Employment?

NSO insurance policies typically cover claims that occur during the policy period. Claims from previous employment may not be covered unless the nurse has purchased an extended reporting endorsement (ERE). An ERE provides coverage for claims that occurred before the policy start date but were not reported at the time.

Conclusion

NSO insurance is an essential protection for nurses to safeguard their professional reputation and financial well-being. Nurses should carefully review their insurance needs and choose an NSO insurance policy that meets their individual needs. With the right coverage, nurses can focus on providing the best possible care to their patients without worrying about the risks of malpractice claims.