Georgia Medical Malpractice Insurance Market Update

Posted by | January 04, 2012 | No Comments
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Georgia medical malpractice insurance premiums have been lowered due to multiple events that took place in 2011. Medical malpractice insurance carrier competition has created a Georgia marketplace where the physicians can benefit from lower costs of professional liability insurance coverage.  The following changes contributed to the rate decreases many physicians are now seeing in their practices:

  • Medicus Insurance Company enters Georgia
  • Mag Mutual announces $16.5 million dividend
  • Norcal Mutual acquires Medicus Insurance Company
  • The Doctors Company acquires FPIC group
  • Medicus Insurance Company receives “A” rating from A.M. Best
  • A.M. Best Upgrades The Doctors Company Financial Strength Ratings to A (Excellent)

The standard limits of liability in Georgia are $1,000,000 / $3,000,000. The discounts that each company can apply vary substantially based on rate filings with the state. Most Georgia medical malpractice insurance companies can offer claims free discounts, risk management discounts and board certification discounts. Also, for a physician working less than 20 hours per week, a part-time discount of 50% can be applied.

Many specialties, including Family Practice, OB/GYN, General Surgery, Cardiology, Neurology, Internal Medicine, and Orthopedic Surgery have benefited from lower medical malpractice insurance premiums.   Physicians and Surgeons have been able to develop a more profitable business by lowering their cost of their professional liability insurance.

Cost-effective coverage is not the only reason physicians across Georgia are choosing to place their professional liability insurance coverage with Diederich Healthcare. Diederich Healthcare provides comprehensive medical malpractice insurance and consulting services to over 13,000 healthcare providers throughout the United States, Guam, and Puerto Rico.  Through Diederich’s six (6) U.S. regional offices and multiple sales and service centers, the company strives to provide superior client service.  As a leader in the industry for almost 40 years, our goal is to deliver cost-effective quality insurance to our physician clients.  Please note that coverage can be transferred from your current carrier at any time.  Waiting for your current renewal date is not necessary. Get a Free Quote Today.

To contact the author, call 800-457-7790 and ask for Myles Donnell.

About Myles Donnell (view full bio page)

Myles is a graduate of Southern Illinois University with a bachelor degree in Finance. In 2005, as senior in college he joined the Diederich Group of Companies in the home headquarters in Carbondale, Illinois. Upon graduation, Myles was transferred to the Southeastern Regional Office in Tampa, FL. He is now a Senior Broker within Diederich Healthcare specializing in Professional Liability Insurance for physicians. Myles is a licensed agent in over 12 states throughout the southeast United States.

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