What’s going on in the Nevada Medical Malpractice Insurance Market.
Nevada has implemented reform to compensation limits for both non-economic damages as well as punitive damages. Malpractice insurers find it a favorable state to write business and new carriers have begun to offer coverage to Nevada physicians. With the increase in competition between insurance companies and more companies to choose from, it is extremely important to have an experienced agent on your side to minimize your risk. Desert Mountain Insurance will research and evaluate the companies and coverage components to ensure you are well informed in the purchase of a policy including terms that fit your needs.
We partner with many major national medical professional liability insurance carriers as well as local Nevada medical malpractice insurance companies. We not only obtain information on and shop for several rates on an insurance policy, but evaluate coverage and provide objective guidance to our Nevada clients so they may select the professional liability carrier, policy, and protection that best meets their specific needs and provides competent defense.
Records Retention Requirement for Nevada Physicians and Nevada Malpractice Insurance
Pursuant to Nevada Revised Statute Section 629.051, physicians may not destroy medical records for patients under the age of 23. Medical records may be destroyed for patients over the age of 23 so long as they have been retained for 5 years. This state statute does not supersede any federal law or legal contract requirement that the physician enters into agreement.
In addition to direct patient care services, physicians and other healthcare providers also have administrative responsibilities which may or may not be automatically covered by a Nevada medical malpractice insurance policy. Please consult your Nevada medical professional liability insurance agent to determine if the administrative responsibilities within your practice are covered under your current Nevada medical malpractice insurance policy or if alternative coverage options are available.
Nevada Medical Malpractice Insurance and Statute of Limitations
It is important to note the change in the statute of limitations for Nevada regarding medical malpractice lawsuits:
If the injury or death occurred after October 1, 2002, then the following applies: Nevada Revised Statute Section 41A.097 states that a medical malpractice lawsuit must commence no longer than 3 years after the date of injury or no more than 1 year after the date of discovery.
If the injury or death occurred before October 1, 2002, the the following applies: Nevada Revised Statute Section 41A.097 states that a medical malpractice lawsuit must commence no longer than 4 years after the date of injury or no more than 2 years after the date of discovery. Why is it important to consider the prior limitation? There are certain exceptions for minors as well as the determination of what the specific date of discovery is.
We recommend contacting your Nevada medical professional liability insurance agent or company to discus any concerns regarding coverage should you receive a written demand from a patient or patient representative. We work with medical professionals in all specialties including but not limited to, MD/DO, Naturopaths, Dentists, Podiatrists, Chiropractors, and more.