Connecticut Malpractice Insurance
Table of contents
- How to buy malpractice insurance in Connecticut.
- How to save money on your malpractice insurance.
- How much does medical malpractice insurance cost in Connecticut?
- Medical malpractice requirements in Connecticut.
- Best medical malpractice insurance companies in Connecticut.
- Why partner with Cunningham Group in Connecticut?
- Historic medical malpractice insurance rates in Connecticut – since 2000.
- History of malpractice insurance in Connecticut.
- Resources for Physicians.
Connecticut Malpractice Insurance
Physicians in Connecticut face high malpractice insurance premiums. Coupled with higher-indemnity insurance requirements, Connecticut can be a difficult state for physicians seeking reasonably-priced policies.
Our 2023 Physician Buyers Guide for purchasing malpractice insurance in Connecticut gives you the information necessary to obtain the strongest, most financially secure policy at the best price. When shopping for coverage, you need a full view of the Connecticut marketplace to find the company that best fits your situation. Choose a broker that can offer multiple quotes from all the major malpractice insurance companies in Connecticut.
How to buy malpractice insurance in Connecticut.
The best way to buy malpractice coverage is to work with a reputable malpractice insurance broker in Connecticut who can generate multiple quotes. Your broker will walk you through the lengthy insurance application and underwriting process. Click to get medical malpractice insurance quotes from every major Connecticut malpractice insurance company.
Typically, the malpractice insurance purchasing process goes like this:
- Submit your information for your free medical malpractice insurance quote from every major insurance company in Connecticut.
- One of our veteran malpractice insurance agents who specializes in the Connecticut market will contact you to learn more about your specific needs.
- We shop your coverage to every major insurance company in Connecticut.
- We present you with a number of insurance quotes and give you the information necessary to make an educated and informed decision. Don’t worry. We’re here every step of the way, helping you get the best price with the best company.
- At renewal time, we restart the process of shopping your coverage among every major carrier to keep your policy properly priced.
How to save money on your malpractice insurance.
- The easiest way to save money on your medical malpractice insurance policy is by working with a broker who has the access to generate quotes from every major insurance company, offering an accurate view of the marketplace. As one of the top brokers in Connecticut, we can guide you through the application and underwriting process so you’re confident you secured the best price with the right insurer for your situation.
- The most common limits in Connecticut are $1 million/$4 million. Limits of liability play a major role in determining the overall cost of your policy. Some companies will offer lower limits to save you money. We don’t recommend this. We want your risks fully indemnified so you never have to pay an award out of pocket. Let us save you money by shopping your coverage rather than skimp on protection.
- Check out our 7 secrets your medical malpractice insurance agent won’t tell you page to get insider information on buying coverage in Connecticut.
How much does medical malpractice insurance cost in Connecticut?
Rates for physician malpractice insurance don’t vary much depending on where you practice within the state. Most major insurance companies classify Connecticut as a single territory, which means your specialty’s base rate does not vary depending on your practice address. But you still want multiple quotes to get an accurate view of the marketplace. This is one of the many reasons it’s important to work with an insurance agency that specializes in medical malpractice insurance. Below are mature, base rates with no credits or discounts. We typically get our clients a 30-50% reduction from these rates:
- Internal Medicine Average Rate $15,878
- General Surgeon Average Rate $84,873
- OB/gyn – Average Rate $99,046
The cost of your malpractice coverage can vary greatly due to a number of factors, including your claims history, the type of patient interactions you have, the insurance company you are placed with and more. Cunningham Group created this premium estimation tool by drawing from its database of thousands of physician clients. Below are five malpractice estimation premium buckets to gauge how expensive your coverage should be. The buckets are numbered 1 to 5 — with #1 being the least expensive and #5 the most costly.
Medical malpractice requirements in Connecticut.
Limits of Liability: The most important requirement are the limits of liability in Connecticut which are $1 million/$4 million. What this means is that the insurance company we help place you with will cover you during the policy period up to $1 million per claim, with a cap of $4 million per year.
Most hospitals require a physician carry malpractice insurance prior to granting admitting privileges. Some of the hospital systems requiring this include, but are not limited to: Yale New Haven Hospital, Hartford Hospital, Bridgeport Hospital and Bristol Hospital.
Best Medical malpractice insurance companies in Connecticut.
- Medical Protective
- The Doctors Company
Why partner with Cunningham Group?
Partnering with Cunningham Group will give you a full view of the Connecticut marketplace. We can get you quotes from all the major insurance companies and help you choose the policy that best fits your needs and budget. Our veteran insurance agents average 10+ years of industry experience. Let us help you secure medical malpractice insurance quotes from every major insurance company in Connecticut.
Historic Medical Malpractice Insurance Rates in Connecticut for Physicians.
Brief History and other important facts of medical malpractice insurance in Connecticut.
In 2012, a survey of Connecticut physicians conducted as part of a study on defensive medicine found that 39 percent of physician-respondents had been personally involved in a medical malpractice case, and 73 percent of respondents said they were concerned or very concerned about medical malpractice. Connecticut saw a large spike in malpractice premiums and claims amounts from the mid-1990s through the mid-2000s, with awards in malpractice cases increasing 176 percent between 1994 and 2004. At the same time, many insurers exited the Connecticut market, making affordable insurance even more difficult to find. Though claims and medical malpractice payouts in the Constitution State have decreased significantly over the past 10 years (mirroring a general decrease across the United States), this has not yet resulted in any significant decrease in malpractice premiums for physicians.
And physician liability risk got a little wider in 2018 when the Connecticut Supreme Court recognized — in the case of Byrne v. Avery Center for Obstetrics and Gynecology, P.C. — a new negligence cause of action for a healthcare provider’s unauthorized disclosure of confidential patient information. In doing so, Connecticut joins neighboring states, including New York and Massachusetts, which had already recognized state-law civil liability premised on the unauthorized disclosure of patient information.
Tort Reform in Connecticut
As in many states, reforms to the Connecticut medical liability system have been frequently attempted, with some limited successes. Though Connecticut has been unsuccessful in capping damages, many other reforms have been instituted, including joint-and-several liability reform, use of collateral source when determining damages, limits on attorney fees and the use of periodic payments for large settlements. Unfortunately, none of these measures has had much effect on the cost of insurance for physicians. The Connecticut State Medical Society lists promoting health courts as an alternative to the current medical liability system, supporting caps on damages and protecting the personal assets of physicians in liability cases among its most important legislative goals for Connecticut physicians.