TMLT to cut rates for doctors

Austin Business Journal

The Texas Medical Liability Trust’s governing board voted to reduce rates for Texas policyholders and pay out a dividend once policies are renewed in 2008.

TMLT is the largest writer of medical malpractice insurance in Texas.

The board approved a 6.5 percent rate reduction on all medical specialities and classes, effective Jan. 1, 2008. In addition, all current TMLT policyholders renewing their policies in 2008 will receive a dividend equal to 22 percent of their expiring premium. This dividend is worth $35 million.

TMLT has reduced rates five consecutive years since state lawmakers passed medical liability tort reform in 2003. The insurance group cut rates 12 percent in 2004; 5 percent in 2005; 5 percent in 2006; 7.5 percent in 2007 and now 6.5 percent in 2008. Other insurers have dropped premiums, too.

The net effect of TMLT’s cumulative rate reductions is a 31 percent drop from 2003 rates and some $200 million in savings on premiums.

The TMLT is based in Austin.
see original

You may also like

Legislative panel approves medical malpractice bill
Read more
Urgent-care centers: Illinois numbers grow as time-pressed families seek low-cost option to ERs
Read more
Global Center for Medical Innovation launches
Read more

Recent Posts

California Healthcare Providers, Trial Attorneys, Legislators Reach Deal to Increase MICRA Cap

Corporate Acquisitions Accelerating Surge in Employed Physicians

AM Best Maintains Negative Outlook for MPL Segment in 2022, Cites Rising Loss Costs, Increasing Severity, Diminished Reserves

Popular Posts

PIAA 2017: Current Trends & Future Concerns

2022 Medical Malpractice Insurance Rates: What the data tells us

Global Center for Medical Innovation launches

Start Your Custom Quote Process™

Request a free quote