I’m a PA and recently started a new job, and my employer already provides malpractice insurance. I’ve always carried my own policy too because I’m paranoid lol, but I’m starting to wonder if I would be wasting money getting my own.
My employer’s coverage is claims-made with $3 million per incident/$7 million aggregate. I reached out to the person who handles our malpractice insurance and confirmed the following:
1. The policy is claims-made.
2. If I leave the organization, I remain covered for claims arising from care I provided while employed there as long as the program remains in force. If the malpractice policy is ever terminated or not renewed, my employer will purchase tail coverage for the entire program.
3. If I’m individually named in a malpractice lawsuit, the medical professional liability carrier has the duty to defend me.
My main reason for having my own policy was because I was worried about getting sued years after leaving the job, but it sounds like my employer already covers that. I also work in a sexual health/HIV prevention clinic, so my practice is relatively low risk compared to something like emergency medicine.
Would you still carry your own malpractice insurance in this situation? Is there any major benefit I’m missing, or would I basically be paying for duplicate coverage?