Further rate reductions in Texas
NEWS IN BRIEF — Posted Oct. 11, 2004
Texas Medical Liability Trust in September announced plans to cut doctors' medical liability insurance premiums by 5% Jan. 1, 2005. That is on top of a 12% cut implemented after Texas voters passed a constitutional amendment limiting noneconomic damages awarded in medical malpractice lawsuits to $250,000.
Texas Medical Liability Trust, a physician-owned company created in 1979, writes policies for nearly half of Texas' physicians.
"We have to ask why the other insurers are not following suit," TMA President Bohn D. Allen, MD, said in a statement. "It's time ... other insurers acknowledge the value of Prop 12 and slash their unsupportable rates."
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/10/11/prbf1011.htm.