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North Carolina Malpractice Insurance

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North Carolina Malpractice Insurance

Every interaction and healthcare decision a medical professional makes that impacts a patient’s care, puts them at risk for a malpractice claim. North Carolina physicians should carry medical malpractice insurance. Medical malpractice lawsuits can be filed in North Carolina for a few different conflicts including treatment discrepancies, perceived lack of treatment and other claimed departures from accepted North Carolina standards of medical care. As with any lawsuit, there must be proof that harm resulted from a North Carolina healthcare professional’s negligence. Learn more about North Carolina’s malpractice insurance requirements and how you can find optimal coverage for your unique needs.

How much does medical malpractice insurance cost in North Carolina?

Rates for physician malpractice insurance don’t vary much depending on where you practice within the state. Most major insurance companies classify North Carolina 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:

North Carolina

  • Internal Medicine Average Rate $8,303
  • General Surgeon Average Rate $26,897
  • OB/gyn – Average Rate $40,788
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Purchasing  North Carolina Medical Malpractice Insurance

The best way to buy medical malpractice coverage is to work with a reputable licensed North Carolina malpractice insurance broker. Medical malpractice brokers are capable of generating multiple quotes specific for your unique needs. This allows you to pick the best coverage at the best price. Your broker will also walk you through the lengthy insurance application and underwriting process. View medical malpractice insurance quotes from every major North Carolina malpractice insurance company.

Our 2022 Physician Buyers Guide for purchasing malpractice insurance in North Carolina 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 North Carolina 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 North Carolina.

Medical Malpractice Insurance Costs in North Carolina

Rates for physician malpractice insurance don’t vary much depending on where you practice within the state. Most major insurance companies classify North Carolina as a single territory, which means your specialty’s base rate does not vary depending on your practice address.  It is still very important to work with an insurance agency licensed in North Carolina that specializes in medical malpractice insurance.

Factors that Affect Malpractice Insurance Premiums:

Amount of coverage needed

  • More coverage means a higher premium 

Type of policy preferred

  • Every policy is different, every medical practitioner has different needs 

Medical specialty

  • Higher-risk specialties that require unique expertise will naturally have higher premiums
  • Working hours
    • Longer working hours ( more strained individuals) will have higher premiums
  • Previous malpractice claims history
    • If you have a history of claims, insurance companies will see you as a higher risk and require a higher premium to cover you

Why North Carolina Doctors Choose Cunningham Group

North Carolina physicians choose Cunningham Group because we are one of the few medical malpractice insurance agencies that take the time to understand your specific employment situation and your approach to patient care. With access to every major medical malpractice insurance company in North Carolina, our team is uniquely qualified to get you the best coverage at the most affordable price. Most agents only have access to one or two medical malpractice insurance companies. Our almost-universal access lets us shop your coverage among nearly every available company, which means malpractice insurers compete for your business.

How Does the Process Work?

  1. You will submit your information through a secure medical malpractice insurance quote form.
  2. You can always call us and speak to an agent immediately.
  3. A veteran medical malpractice insurance broker in North Carolina will be assigned to you.
  4. We shop your Physician Malpractice Insurance to every major malpractice insurance in North Carolina.
  5. Your North Carolina agent will take the time and go over all of your options with you, explaining everything to make certain you make the right decision.
  6. We get you your insurance policy at the best price with a major insurance company.
  7. At renewal time: We start the shopping process all over again, getting you quotes from all the major malpractice insurance companies to again make certain you’re properly priced.

Request your free medical malpractice insurance quote and learn why more people choose us over anyone else in the nation.

Historic Medical Malpractice Insurance Rates in North Carolina for Physicians.

North Carolina Medical Malpractice & Tort Reform’s Effect on Settling Disputes 

North Carolina has instituted several reforms to its medical liability system over the years. It was among the first states to adopt alternative dispute resolution, which can offer a simpler means of settling disputes. These alternatives include mediation, arbitration, a summary jury trial, and early neutral evaluation. North Carolina first began testing these methods in 1991, establishing a series of pilot programs that required the mediation of civil actions. This system was effective in reducing both the length of the conflict and the overall costs.

In 2001, a law capping noneconomic damages at $500,000 for medical malpractice cases was passed. The law made exceptions if the plaintiff suffered disfigurement, loss of use of part of the body, permanent injury, or death, as well as if the defendant was found to have been reckless, grossly negligent, fraudulent, or committed the acts with intent or malice. The North Carolina damage cap is indexed to inflation.

In 2007, the North Carolina General Assembly passed the Voluntary Arbitration of Health Claims Act, which capped total damages at $1 million in medical professional liability claims where both parties agreed to use binding arbitration. The act created a well-defined system of alternative dispute resolution for medical liability cases, allowing medical malpractice insurance providers to offer more stability in premiums.