Navigating Professional Liability Insurance for Healthcare Students with HPSO

For healthcare students embarking on their professional journey, understanding the importance of professional liability insurance is crucial. As future healthcare providers, students face unique risks and exposures that can be mitigated with the right insurance coverage. HPSO (Healthcare Providers Service Organization) offers comprehensive professional liability policies designed to protect students and their institutions, providing peace of mind and financial security in the face of potential claims.

The Importance of Individual Professional Liability Coverage for Students

While educational institutions often provide some form of liability coverage for their students, relying solely on this coverage can leave significant gaps. An employer's policy is designed to protect the employer’s needs and interests. Therefore, relying solely on employer-based coverage may result in coverage gaps. HPSO policies place your interests first and provide additional policy benefits to help protect your career against risk exposure. It’s also important to remember that your employer’s policy probably extends solely to the duties you perform at your place of employment. Therefore, you may not be covered if you give advice to a friend or neighbor after hours, perform volunteer work, or moonlight outside of your full-time job.

Here's why students should consider obtaining their own individual professional liability coverage through HPSO:

Primary Protection of Your Interests: HPSO policies are designed to prioritize your interests as a student, ensuring that your defense and settlement are handled with your specific needs in mind.
Coverage Portability: An HPSO policy is individual coverage that goes with you wherever you go, and it stays with you even if you change jobs, subject to the policy terms, conditions and exclusions. Your insurance remains in force even if you change jobs or during a period of unemployment.
Comprehensive Coverage: HPSO offers broad coverage that extends beyond the typical scope of an employer's or institution's policy. This includes protection for incidents occurring both on the job and after hours. 1 Coverage is available for incidents that occur on the job and after hours as well.
Protection Outside of School Activities: Your employer’s policy probably extends solely to the duties you perform at your place of employment. Therefore, you may not be covered if you give advice to a friend or neighbor after hours, perform volunteer work, or moonlight outside of your full-time job.
Required Coverage: It’s important for healthcare students to consider maintaining their own professional liability policy - which may be required by the facility where they are practicing.

Key Features of HPSO Student Insurance Coverage

HPSO's professional liability insurance policies for students are packed with features designed to provide comprehensive protection and support throughout their training. Here are some of the key benefits:

Professional Liability (Malpractice) Coverage

At its core, HPSO's insurance protects against claims that allege an error committed in the performance of your professional services resulted in some form of damages/harm. What the insurance industry refers to as professional liability insurance, you are probably more familiar with as malpractice insurance. While malpractice claims typically involve a physical injury, they can include violating a patient’s rights, verbal abuse or unprofessional conduct. This coverage helps protect you against a claim resulting from a covered incident. If you face a professional liability claim, a policy through HPSO pays for legal defense costs for covered claims, irrespective of whether a favorable result is achieved.

License Protection Coverage

You’ve studied and worked hard for your license and it should be protected. Our license protection coverage pays for your defense of disciplinary charges and other covered expenses arising out of a covered incident, up to the applicable limit of liability. We understand the importance of your license to your livelihood and will help you safeguard it. If a complaint is submitted against you from an applicable licensing agency, you could face the challenge of defending your practice and license. A policy through HPSO includes up to $25,000 of license protection coverage that allows you to hire an attorney to help you craft a written response to your state board and accompany you to any hearings. Having an attorney at your side can be the difference between losing and keeping your professional license. An act that violates the standards governing your profession may result in a disciplinary action. Instances of unprofessional conduct may include incompetent practices, medication errors, documentation errors, and practicing outside the scope of your license and/or certification. Any party may file a complaint against you with a state board for any reason-even your own employer-and it may not be solely related to your professional duties.

Subpoena Assistance Costs

Even if you are not named in a lawsuit arising out of your professional services, you may still receive a subpoena (a formal written order requiring you to testify before a court or legal proceedings) to provide documents or testimony. Through Subpoena Assistance Costs, your HPSO policy provides deposition representation, meaning your HPSO policy will pay for the fees charged by an insurer-designated attorney to prepare you for a deposition. Do not attempt to contact the patient or the patient's attorney to discuss the subpoena or any other paperwork you may receive. You should also avoid the temptation to talk with your friends and colleagues about anything relating to the notification. Please notify your insurance provider as soon as possible.

HIPAA Violation Coverage

If you experience a HIPAA-related breach, this coverage helps with patient notification expenses (up to $25,000) and pays fines or penalties assessed during a HIPAA proceeding, where permitted by law.

Damage to Property Coverage

Payment of up to $10,000 annual aggregate for unintentional damage you cause to someone else’s property, while at your residence or your workplace. Animals are legally considered property in most jurisdictions. Services to Animals Property Damage - Up to $250 per incident, up to $10,000 annual aggregate for accidental damage to the property of others caused by an insured faculty member or student while providing services within the curruculum at an insured location.

Sexual Misconduct Coverage

Coverage is provided up to $25,000 annual aggregate, as a sublimit of professional liability, for amounts that you are legally obligated to pay as a result of covered claims involving acts of sexual misconduct related to professional services, provided that there is no determination of liability. There is no coverage for criminal acts, including consensual sexual activity. Sexual Misconduct coverage not available in New York.

Read also: Guide to UC Davis Student Housing

Adverse Publicity Coverage

Coverage is provided up to $25,000 annual aggregate for certain fees, such as third party legal or public relations consultants, to address adverse publicity or media attention, including preparation of statements, press releases, and interviews arising from your professional services. (Coverage is not available in all states).

Assault Coverage

If you become the victim of an assault, either at or while commuting to or from your workplace, this coverage provides reimbursement up to $25,000 annual aggregate, for your covered medical expenses or damage to your personal property. A professional liability policy through HPSO provides coverage for covered medical expenses or personal property damage incurred by you if you are assaulted at your workplace or while traveling to or from your workplace. This policy defines "workplace" as any location used by you to provide professional services. Did you know? Reimbursement for medical expenses or personal property damage incurred by an insured faculty member or student victim of an assault at an insured location up to $1,000 per incident, up to $25,000 annual aggregate.

Workplace Liability Extension Coverage

If you are a self-employed healthcare provider leasing space in an office building, you may benefit from workplace liability extension coverage. This coverage pays for amounts you are legally obligated to pay as a result of injury or damage caused by an occurrence at your workplace up to the limits indicated on your certificate of insurance. The workplace liability coverage also provides up to $150,000 for your legal liability caused by fire or water damage.

Understanding Policy Limits and Coverage Options

HPSO professional liability insurance offers several levels of coverage. Many of our insureds select $1 million of coverage for lawsuits alleging malpractice. The $3 million ‘aggregate’ limit you see on your certificate of insurance means it will pay up to $1 million per claim, not to exceed $3 million in claims per year. Please check your certificate of insurance for your policy limits.

HPSO offers professional liability insurance in two forms - occurrence and claims-made. Both provide coverage. Occurrence provides coverage for incidents which take place during a covered policy period - regardless of when the claim is reported. An occurrence policy provides long term protection for covered claims that may arise at any time in the future - up to the limits of the policy in force at the time of the incident that led to the claim. Claims-made coverage provides for claims made against the insured arising from an incident and reported to the insurance company while the policy remains in force and during any applicable extended reporting period. If you’re unsure whether your policy is occurrence or claims-made, please check your certificate of insurance. If you have specific questions about occurrence or claims-made, contact us with your policy number, and we'll discuss your coverage needs and options with you.

Read also: Investigating the Death at Purdue

Please note: If you currently have a claims-made policy and have decided to either not renew or cancel that policy, you may be able to purchase tail coverage. Tail coverage will extend the timeframe that a claim can be reported, but the incident will still need to have occurred while the policy was active. Contact us for more information.

Discounts and Eligibility

HPSO provides several discount opportunities to make coverage more accessible for students and new graduates:

New Graduate Discount: Yes, you are eligible for up to a 60% discount if you’ve graduated from school within the last 12 months.
Part-Time Discount: We offer a part-time discount to certain healthcare providers based on the number of hours worked. If your full-time premium exceeds $100 per year, and you work 24 hours per week or less, you would be eligible for this discount. Please note that our part-time discount does not reduce coverages on your policy. To take advantage of this discount when you apply online, simply indicate that you are working part-time on the application in order to request the discount on your policy.
Claim-Free Discount and a Size of School Discount: Yes. We currently offer schools a Claim-Free Discount and a Size of School Discount.

How to Obtain Coverage

How quickly can coverage become effective? Your coverage can become effective upon approval of your completed application and receipt of payment. In most situations, this process may be completed in less than one day if you apply online. If you decide to fax your application, processing is typically within 2 to 3 business days of receipt of the faxed application. The effective date of a policy cannot be before the day in which you apply. Your application processing time may be extended if additional information is needed from you or all items requested or required are not submitted with the application.

Addressing Common Concerns

Here are some clarifications to address common misconceptions:

Does having your own policy increase your risk of being sued? No, having your own professional liability insurance coverage does not make you a more likely target. If/when a malpractice lawsuit occurs, many plaintiffs will name everyone involved in the patients' care-having your own coverage has no bearing on whether or not you’re named in a suit. In fact, because professional liability insurance disclosure is typically not required until the discovery phase of the lawsuit; the opposing counsel may not even know you have your own policy at the time of filing.

Managing Your Policy

HPSO offers convenient options for managing your policy:

AutoPay Enrollment/Unenrollment: For individual policyholders: To enroll, upon each year's online renewal there is a box that is pre-checked to enroll you in AutoPay prior to entering your payment card information. Leave that box checked to be enrolled and have your card on file charged at your next renewal, or simply uncheck the box if you do not wish to be enrolled. You can unenroll at any time by visiting HPSO.com/RenewNow or by contacting us. Or at any point in your policy cycle, if you wish to enroll or unenroll in AutoPay, please visit HPSO.com/RenewNow. For business policyholders: Simple. For business policyholders: To modify, please call us at 215-509-5437 and our service team will be happy to help. How do I unenroll from AutoPay?For individual policyholders: Simple. If you unenroll in AutoPay, please make sure to pay your renewal premium prior to your renewal date so that your professional liability coverage remains in effect. For business policyholders: Simple. To unenroll, please call us at 215-509-5437 and our service team will be happy to help. If you unenroll in AutoPay please make sure to pay your renewal premium prior to your renewal date so your professional liability coverage remains in effect.
Policy Cancellation: If you determine you would like to cancel your policy, we require that you submit the request in writing. Your policy will be canceled based on the date we receive your notification or your request. Please note, if you are cancelling due to a temporary leave of absence, we may be able to adjust your coverage and offer you a 50% discount on your premium. This will help ensure you maintain coverage as a healthcare professional with an active license. If you’re cancelling because you’re covered by your employer’s policy, be aware that your employer’s coverage may differ in ways that could leave you with gaps in your coverage. Please contact us to discuss.
Coverage Changes: To change the licensure on your policy, simply contact us about the change. We will update your policy and send you a revised Certifi… Please contact us indicating any change(s) in coverage that you would like to make to your policy. Any request for change(s) will be reviewed, and may be subject to additional terms and conditions for coverage that may be subject to an additional premium. Be prepared to give us your name, address, policy number, requested change, and effective date of requested change. There may be a change in your premium due to your coverage change.

HPSO as a Resource

The HPSO Risk Advisor Helpline is a free risk management resource. HPSO provides resources to help you stay informed and protected:

Risk Management Materials: Stay up to date on industry insights, trends, and tips when you sign up to receive risk management materials from HPSO - all conveniently delivered to your inbox.
My Account Access: You can easily retrieve your username and/or password by going to the My Account Login Page and clicking the "Forgot Username or Password/Pin" link. You will then be prompted to answer questions to validate your identity and once validated, you will able to retrieve your username and/or password. If you forgot your username, it will be displayed immediately. If you are still unable to log in, please contact us and we will be happy to help. My Account is showing no active policies. What should I do? If you are still unable to log in, please contact us and we will be happy to help.

Reporting a Claim

If you’ve been contacted regarding a lawsuit, or you suspect that you may be contacted in the future, please contact us immediately, so that we can work with you on next steps. Once we’ve heard from you, your information will be shared with our insurance carrier partner, CNA, and a CNA claims consultant will reach out to you by phone within 24-48 hours. Your CNA consultant will explain next steps and discuss the attorney options available to you, if needed. If you believe you may have been involved in an incident, call us. A good idea is to store our number in your phone. Claims will be evaluated for coverage based upon the specific facts and circumstances presented, the issued policy terms, conditions and exclusions. If coverage is afforded, the amounts payable under a policy are subject to applicable deductibles and limits of insurance. Please feel free to contact us if you have any questions.

tags: #hpso #student #insurance #coverage