Medical Professional Liability Insurer Drops Rates by 6.2% in Texas

Medical professional liability insurer Medical Protective announced a 6.2 percent average rate decrease for physicians in Texas, effective Jan. 1, 2009.

The rate change represents the sixth rate reduction for the insurer in the last four years. Cumulatively, the company has lowered malpractice premiums in Texas by an average of more than 37 percent.

The company cited “moderating trends in loss costs” for its ability to lower rates again. It attributed tort reform implemented in Texas in 2003 as one of the reasons for reduced severity and frequency of claims in the state.

The company has more than 9,000 policyholders in Texas.

Source: Medical Protective