New Hampshire Malpractice Insurance
Table of Contents
- How to buy medical malpractice insurance in New Hampshire.
- How to save money on your malpractice insurance.
- How much does medical malpractice insurance cost in New Hampshire?
- Medical malpractice requirements in New Hampshire.
- Best medical malpractice insurance companies in New Hampshire.
- Why partner with Cunningham Group in New Hampshire?
- Historic medical malpractice insurance rates in New Hampshire – since 2000.
- History of malpractice insurance in New Hampshire.
- Resources for Physicians.
New Hampshire Malpractice Insurance
New Hampshire physicians enjoy moderate malpractice rates, a legacy of the state’s long history of nurturing and regulating its insurance market.
Our 2022 Physician Buyers Guide for purchasing malpractice insurance in New Hampshire 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 New Hampshire 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 New Hampshire.
How to buy malpractice insurance in New Hampshire
The best way to buy malpractice coverage is to work with a reputable malpractice insurance broker in New Hampshire 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 New Hampshire 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 New Hampshire.
- One of our veteran malpractice insurance agents who specializes in the New Hampshire market will contact you to learn more about your specific needs.
- We shop your coverage to every major insurance company in New Hampshire.
- 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 New Hampshire, 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 New Hampshire are $1 million/$3 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 New Hampshire.
How much does medical malpractice insurance cost in New Hampshire?
Rates for physician malpractice insurance don’t vary much depending on where you practice within the state. Most major insurance companies classify New Hampshire 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 $11,458
- General Surgeon Average Rate $41,488
- OB/gyn – Average Rate $59,013
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 New Hampshire
Limits of Liability: The most common limits of liability in New Hampshire are $1 million per claim with an annual aggregate cap of $3 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, Catholic Medical Center in Manchester, Dartmouth-Hitchcock Medical Center in Lebanon and Wentworth-Douglass in Dover.
Best Medical malpractice insurance companies in New Hampshire
- Medical Protective
- The Doctors Company
Why partner with Cunningham Group?
Partnering with Cunningham Group will give you a full view of the New Hampshire 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 New Hampshire.
Historic Medical Malpractice Insurance Rates in New Hampshire for Physicians
Brief History and other important facts of medical malpractice insurance in New Hampshire
Established in 1851, the New Hampshire Insurance Department was the first insurance regulatory agency in the United States, and the responsibilities of the department are codified in the state’s constitution. Since 1978, the Insurance Department has operated the New Hampshire Medical Malpractice Joint Underwriting Association (NHMMJUA), which is entrusted with protecting the public good by ensuring the existence of a competitive medical malpractice insurance marketplace. The NHMMJUA was created to reverse a tide of skyrocketing premiums and dwindling insurance options that was overwhelming New Hampshire by the mid-1970s. The JUA Plan offers medical malpractice insurance to any physician at market rates, even those who are refused coverage through the commercial market. This has been a particular boon to high-risk providers like obstetricians and surgeons, who might have found practice in New Hampshire difficult to continue otherwise.
Tort Reform in New Hampshire
In addition to the NHMMJUA and the strong insurance market, the Granite State has also implemented tort reforms to improve the state’s medical liability climate. Unfortunately, some of these reforms have not stood the test of time, with the New Hampshire Supreme Court twice overturning caps on noneconomic damages, first in 1980, when a cap of $250,000 was overturned, and again in 1991, when an $875,000 cap was overturned.
In 2005, New Hampshire began requiring all medical malpractice claims to first be submitted to a non-binding panel chaired by a retired judge and including one physician and one lawyer. The three-member panel screens all medical malpractice claims and votes on whether the lawsuit has merit. Unfortunately, the panel has little teeth, as the finding is non-binding and a case can proceed even if the panel finds it to be without merit.