Profession
Pennsylvania medical liability insurer will likely reduce premiums in 2008
NEWS IN BRIEF — Posted Sept. 17, 2007
Thousands of Pennsylvania physicians may get a break on their medical liability insurance premiums after PMSLIC, one of the state's leading carriers, announced plans to reduce rates by an average of 11% next year.
The rate change would take effect Jan. 1, 2008, if the state insurance department approves it. All specialties would see some type of reduction.
PMSLIC spokeswoman Anna Lavertue credited an improved liability climate to two key reforms lawmakers enacted in 2002 under the Medical Care Availability and Reduction of Error Act.
She said lawsuit filings had declined overall since the act began requiring lawyers to file a certificate of merit with each case, and to file each lawsuit in the county where the alleged incident occurred. PMSLIC also stopped writing policies in New Jersey in 2002, and switched from occurrence to claims-made policies in 2003, which contributed to the proposed rate reduction, as well.
The physician-owned insurer has not reduced rates since at least 2000, Lavertue said.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2007/09/17/prbf0917.htm.
