Good news for all concerned. SVMIC, the doctor-owned professional liability insurer, has announced a rate reduction. You probably won’t read about falling medical liability insurance rates in the newspaper, but you can tell your friends and neighbors that rates are dropping even though the Legislature has not placed caps on damages in medical malpractice cases.
Here are the rate changes, by specialty:
Anesthesiology – 14.1%
Cardiac Surgery – 14.1%
Gynecological Surgery – 14/1%
Family Practice – non-procedural – 9.3%
Orthopedic Surgery – 9.3%
Pediatrics – 9.3%
Pulmonary & Critical Care Medicine – 5.2%
Internal Medicine + 3.3%
Infectious Disease, Hospitalists + 3.3%
Gastroenterology + 5.0%
Interventional Cardiology + 5.8%
Pathology +10.0%
Emergency Medicine +15.0%
Most other specialties – 4.5%