I see several mis-informations on here and wanted to clear a thing or two up...
I moonlit in residency, A LOT. I was at a four year program; I started moonlighting the start of my third year.
First of all, DO NOT join up with a 'staffing agency' or 'locums company'. Go directly to the contract holders; look at the 'big people' first as they likely have some in your areas (Teamhealth, EMCare, Hospital MD, ECI, Keystone, etc). There are also some small regional contract holders. Lastly, there are 'private groups' but those tend to have a less likely chance of hiring a 'resident'. Ask your 'big brothers' (aka older residents, recent grads, etc).. they can fill you in.
Supply and Demand folks... Thats where its at. IF you live in an area with an abduance of BE/BC Emergency Physicians, then LIKELY the pay is lower and all hospitals are WELL STAFFED so there will be little to no interest in you as a 'resident'. If you live in areas that are poorly staffed, then I ASSURE you that ANY third year resident on this forum can go perform as good, and likely better, job than many of the people filling those spots. There are GREAT non boarded EM folks working in EDs, but there are some SCARY people filling some of those spots (even some scary BC EM folks). I will take a third year EM resident from a busy program any day.
As far as malpractice, most any of the contract holders above will provide insurance and tail (make sure you do ask about that and verify its in your contract). The fee will be taken from your hourly rate (probably anywhere from 5-20/hour).
Dont sell yourself short; espically if you live in a very underserved area with few physicians to staff your surrounding EDs. Understand that EVERY rate is 'negotiable' and do not be afraid to shoot for the moon if it the shift does not fit your schedule well.
I think moonlighting is great and grows you as a physician. I can argue both ways on 'sleeping for dollars' vs a busier place with double coverage. On the sleepers, likely you see a bunch of snotty noses. I was at one of them one time and 4 people came in, thrown from the back of a truck. It was an MCI essentially for that hospital. On the flip side, a double coverage place, you are probably going to have to see 2+ pts per hour, and stay busy with some sick folks... but you have someone else there to talk to. I have actually worked in about 20 different ECs in my career from a Level 1 trauma center I trained at to the Level 1 trauma center I am now FT at... to places with a 4K/yr volume on a 48 hour shift and everything in between. I personally never liked the 17-25K volume places. Those places are too busy for one physician to run comfortably, and tend to be too slow to have two physicians. Some utilize Midlevels, some just let the doc tough it out. When looking at a place to work, just be cautious of those. When you tend to get around the 30K mark, you probably have double coverage.... These are generalizations, keep that in mind.
ABOVE ALL... Make certain you have your most favorite attendings cell number in your phone and let them know you might call them if you ever have an issue. I bounced several things off my resident peers while moonlighting as well as some attendings I respected greatly. Just be careful, and cautious, think twice about every action, and I assure you that ANY third year EM resident from an accredited program can do just fine out there........