Liability Insurance Poll
- Thread starter iFarm
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Yes.
Too many reasons not to. Do not trust your company, nor their promises of protection. They will sail you down the river at the drop of a hat if it means they won't have to pay for it.
Also...it's so daggum affordable...
Too many reasons not to. Do not trust your company, nor their promises of protection. They will sail you down the river at the drop of a hat if it means they won't have to pay for it.
Also...it's so daggum affordable...
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The idea that your employer will sell you down the river or under the bus or whatever is just a lack of understanding of how the law works. Your employer hired you and is responsible for what you do. The only wiggle room they might have is if you were grossly negligent. By the way, if you are grossly negligent, your insurance won't pay either. So they can't put it off on you in order not to pay the claim. The plaintiff lawyer will not allow them off so easy. If you were that bad, why didn't they find out & get rid of you before you killed their client?
Secondly, your insurance is cheap because it's a secondary policy. That means they only pay once the primary insured is maxed out. If you work for a major chain, there is no damage you can do that will exhaust that pot of money w/o being grossly negligent.
The advantages to buying the policy is that it will pay for your own lawyer and it will pay for a lawyer if you ever have to appear before the State Board of Pharmacy.
If those options give you some peace of mind, go for it, it's cheap as dirt. If you ever think they will pay out, the chances are less than nil.
Secondly, your insurance is cheap because it's a secondary policy. That means they only pay once the primary insured is maxed out. If you work for a major chain, there is no damage you can do that will exhaust that pot of money w/o being grossly negligent.
The advantages to buying the policy is that it will pay for your own lawyer and it will pay for a lawyer if you ever have to appear before the State Board of Pharmacy.
If those options give you some peace of mind, go for it, it's cheap as dirt. If you ever think they will pay out, the chances are less than nil.
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I got it just in case and it was very cheap....helps me feel better...
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Considering how many mistakes I've made since starting my job last year, an extra form of protection is definitely worth it. Cannot count on all patients to be forgiving, you know.
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I got it just in case and it was very cheap....helps me feel better...
I am sure there are some other interested pharmacy students: how cheap is it?
D
deleted205891
Our pharmacy law prof said that he's seen cases where companies have thrown its employees under the bus, even if there's perceived (but not real) negligence. He said one thing he wants us to take away from his class is to buy our own insurance. I think he said it's about 150 bucks.
That's what we were told too, in my law class. He said to get the coverage so we could have our own attorney. He gave several examples of situations where the company wanted to settle and throw the RPh to the dogs and the RPh was well served by having his or her own representation.
I let mine lapse when I stopped doing contracting work, but I really should renew it. I paid around $140 for their standard policy from Pharmacists Mutual which is 1 million.
ETA: it is $144 https://apps.phmic.com/PHL/default.aspx
ETA: it is $144 https://apps.phmic.com/PHL/default.aspx
Where I practice it's mandatory. I paid $160 for $2 million.
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As long as you know, it's piece of mind and paying for your own lawyer. They will never pay a claim for you....
I have contemplated it, especially when I worked retail almost full-time, but every time after reading the fine print I decided it wasn't worth it. I agree with the Old Timer that it is more about the peace of mind.
No brainer. It's so cheap
Get mine from HPSO
Get mine from HPSO
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No brainer? Really. If I could sell you a 2011 Corvette fully loaded for $20,000.00. But, you could only drive it after every car in your family was totaled and then only on Sundays, would it still be a bargain? Why do you think it's so cheap? They NEVER pay. It's a great racket. If you want it for peace of mind, I have no problem, buy it. If you think you will ever benefit from it, the odds are better for the Cubs to win the World Series.
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It depends. If my salary was $15,384,000 per year then I would consider it since it was cheap.
For like $120 a year? Absolutely. It might not be the most comprehensive coverage, but being that it's so cheap. Why not have the peace of mind?
Oh BTW.....I do own a Corvette C6 LS3 with Z51 performance package....lmao
So what do you suggest? Go without? I'm curious.
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It depends on where you practice. If you practice at a small hospital or an independent, I would recommend you get the insurance. If you practice for a multi billion dollar corporation, it's a waste of money. These policies are so cheap because they are secondary to the employers insurance. It only pays on a malpractice claim once your employers resources have been exhausted. What are the chances I could cause an error large enough to exhaust the resources of a 100 billion dollar corporation? Zero...
What's to stop the corporation from claiming you acted negligent independent to anything they did and then cut you off from protection or go one further and sue you to collect damages?
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Your argument is not grounded in reality shows you have no lawyer friends. The problems with your arguments are:
1) If you are negligent, your insurance does not cover you. You can't get insurance for negligence.
2) The idea that the corporation would "throw you under the bus" is just not reality for two reasons. The first is the plaintiff's attorney will not permit the deep pockets out of the loop. What could they get from me that they couldn;t get from a billion dollar corporation. The second is, the employer is responsible for hiring you and supervising you. You are their agent and they are responsible for what you do in their name.
You're right and I'd like to keep it that way.
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Here in the UK, several cases where employers have 'settled out of court' and left the employee in the lurch. The PDA is often securing damages from employers on behalf of members. No employer's insurance will support you against an employer.
http://www.the-pda.org/pdf/insight/2010-winter-insight-community.pdf
johnep
http://www.the-pda.org/pdf/insight/2010-winter-insight-community.pdf
johnep
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Do any of you experienced pharmacists have advice on which company to go with?
