Malpractice rates in Texas will decrease an average of 14 percent
“The Doctors Company, a physician-owned medical malpractice carrier, will file with the Texas Department of Insurance to decrease its average rate level.
Ninety percent of the company’s current Texas insureds will receive rate reductions. Although some reductions will range up to 30 percent, the average decrease for insureds at $200,000/$600,000 limits of liability is 14 percent.”
Note that Texas has caps on non-economic damages.
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{ 2 comments }
noted! thanks for the headline.
As usual, Kevin gives half the story.
The Doctors Co. raised its rates 20% higher than any other Texas insurer, some 140% over 2000 levels in the last few years.
Thus, it had room to work. The nation’s largest carrier, GE Medical Protective, requested a 19% increase from the TX Dept. of Insurance, saying caps would only affect at most 1% of its losses.
Oh, and the stock market has recovered from the 2001-02 levels.
In a related story, states which have had caps for years and lost insurers in the last few years are now getting them back.
Must just be a funny coincidence. Half-truths are no better than outright lies, boys. But as long as you get a few more $$ in your pockets, I guess it’s OK, huh?
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