In 2009, your Indiana medical malpractice insurance rates continued to be competitive with – and even better than – rates in other states. That’s apparent from a national publication, the Medical Liability Monitor, which each year researches and prints medical malpractice insurance rates for internal medicine, obstetrics/gynecology and general surgery in all 50 states.
The report is broken down by insurance companies and geographic regions for each state. Although it can be difficult to make side-by-side comparisons, the ISMA was able to compare Indiana’s rates to our neighboring states.
Included are commercial insurance base rates (without factoring in claims history or credits) and state patient’s compensation fund surcharges, where applicable.
Nationwide over 70 percent of the responding medical malpractice insurance companies reported filing rate reductions in 2009. Indiana’s ProAssurance rates dropped slightly compared to 2008.
According to the report, total costs for an Indiana physician insured through ProAssurance in 2009 (excluding Lake and Porter counties) were:
- Internal medicine – $8,736
- General surgery – $35,127
- Ob/gyn – $58,085
Insurance for physicians in Lake and Porter counties was 26-29 percent higher, at $11,258 for internal medicine, $45,213 for general surgery and $73,214 for ob/gyn. All surrounding states have higher rates than Indiana.
“Our competitive rates are mainly a result of Indiana’s strong medical malpractice act, the first in the country, dating back to 1975,” said ISMA Executive Vice President Jim McIntire. The importance of Indiana’s total cap on damages in medical malpractice cases appears even more evident since the Illinois Supreme Court recently overturned that state’s statutory cap on malpractice damages.
McIntire stated, “The ISMA is committed to fighting any attempt to erode Indiana’s medical malpractice act to ensure that Hoosier physicians continue enjoying some of the lowest malpractice premiums in the nation, and thereby guaranteeing Hoosier patients will have access to an adequate supply of qualified physicians.”