Nebraska Malpractice Insurance
Table of Contents
- How to buy medical malpractice insurance in Nebraska.
- How to save money on your malpractice insurance.
- How much does medical malpractice insurance cost in Nebraska?
- Medical malpractice requirements in Nebraska.
- Best medical malpractice insurance companies in Nebraska.
- Why partner with Cunningham Group in Nebraska?
- Historic medical malpractice insurance rates in Nebraska – since 2000.
- History of malpractice insurance in Nebraska.
- Nebraska Excess Liability Fund.
- Resources for Physicians.
Nebraska Malpractice Insurance
Nebraska has one of the best malpractice landscapes for physicians. Rates are among the lowest in the nation. The only difference in price is between the different medical malpractice insurance companies. (Learn more about Nebraska Excess Liability Fund).
Our 2023 Physician Buyers Guide for purchasing malpractice insurance in Nebraska 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 Nebraska 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 Nebraska.
How to buy malpractice insurance in Nebraska.
The best way to buy malpractice coverage is to work with a reputable malpractice insurance broker in Nebraska 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 Nebraska 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 Nebraska.
- One of our veteran malpractice insurance agents who specializes in the Nebraska market will contact you to learn more about your specific needs.
- We shop your coverage to every major insurance company in Nebraska.
- 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 Nebraska, 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 Nebraska are $500,000/$1 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 Nebraska.
How much does medical malpractice insurance cost in Nebraska.
Rates for physician malpractice insurance don’t vary much depending on where you practice within the state. Most major insurance companies classify Nebraska 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 $4,049
- General Surgeon Average Rate $11,561
- OB/gyn – Average Rate $18,052
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 Nebraska.
Limits of Liability: The most common limits of liability in Nebraska are $500,000 per claim with an annual aggregate cap of $1 million.
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, The Nebraska Medical Center in Omaha, Byran Medical Center in Lincoln and Mary Lanning Memorial in Hastings.
Best Medical malpractice insurance companies in Nebraska.
- Medical Protective
- The Doctors Company
- MMIC Insurance
Why partner with Cunningham Group?
Partnering with Cunningham Group will give you a full view of the Nebraska marketplace.. 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 Nebraska.
Historic Medical Malpractice Insurance Rates in Nebraska for Physicians.
Brief History, about the Nebraska Excess Liability Fund and other important facts of medical malpractice insurance in Nebraska.
Nebraska’s enviable medical liability climate can be traced back to the Hospital-Medical Liability Act of 1976, which was crafted in response to the medical malpractice insurance crisis of the early-to-mid-1970s. Prior to the passage of the Act, Nebraska physicians were facing insurance premiums that were escalating at a double-digit pace, with many choosing to leave the state or retire in response.
Nebraska Excess Liability Fund.
The Hospital-Medical Liability Act instituted many reforms, including limits on the total amount a plaintiff can recover and the total amount for which a qualified healthcare provider can be held liable. It also created the state’s Excess Liability Fund, a state-run mechanism that allows Nebraska healthcare providers to pool their malpractice liability risk in order to better withstand large judgments. The Act also instituted medical review panels to examine claims and determine their merit, but plaintiffs are allowed to waive this review and file directly in court.
Under the Hospital-Medical Liability Act, physicians must carry medical liability insurance that gives them coverage for limits of $500,000/$1million. They are also eligible for liability coverage under Nebraska’s Excess Liability Fund. The liability of a participating physician is limited to the extent of the physician’s basic insurance coverage ($500,000/$1 million), with the Fund covering the excess judgment up to $1.75 million, and recoverable damages for patients are likewise limited to $1.75 million. Patients and providers can opt out of the Act by writing to the state insurance director; otherwise, they are governed by its rules. If the patient has opted out or the physician does not qualify under the Act, then there is no limit of liability.
Nebraska is one of only seven states with a liability funding mechanism run by the state government to provide medical malpractice coverage in excess of the primary insurance requirements of its healthcare providers. Managed by the state’s insurance director, the Excess Liability Fund is financed by an annual surcharge that may not exceed 50 percent of the physician’s basic malpractice insurance premium. An additional special surcharge may be levied if the Fund is inadequately funded to pay in full all claims.
Nebraska’s cap on total damages survived a federal court challenge last year when the United States Supreme Court declined to hear the case of a Nebraska mother of a brain-damaged infant to overturn an Eighth Circuit decision upholding the reduction of her $17 million jury verdict to $1.75 million per the state’s cap on total damages in medical professional liability cases, a move she argued was unconstitutional.