Do you know that medical malpractice insurance is a requirement for health professionals in the United States; otherwise they don’t have the right to see patients? Nowadays, any doctor – physician, surgeon or anesthesiologist – must have fixed amount of liability insurance in order to be protected from the medical accident or in case of misdiagnosis. This is required by many states so that doctors can protect themselves from malpractice lawsuits using this insurance policy.
Physicians have to purchase physician malpractice insurance in nearly every state across the country; this is a kind of medical license for doctors. The only exception is Florida where health professionals do not require to obtain malpractice insurance; according to the latest statistics, 5 % of all doctors aren’t insured at all. The Florida Legislature claims that its doctors (those who aren’t covered) have to correspond to certain experience standards, safety criteria and to be engaged in private medical practice.
It’s well-know that total amount of insurance for doctors varies from state to state but it does highly depend upon the doctor’s specialty and its risks.
You may not have let’s say malpractice insurance for anesthesiologists, still you are obliged to have medical liability insurance to reserve the right to access hospital facilities, e.g. operating and diagnostic rooms. This is done so that to lower hospital’s insurance premiums and to be protected in case of malpractice incident. Doctors who are working without malpractice insurance subject the hospital to tremendous risks of massive malpractice settlement.
If we are talking about premiums’ regulation, states control it in one of six ways. Each state has its own rules and restrictions and it’s sometimes hard for physicians to obtain affordable malpractice insurance. It’s necessary for insurance companies to receive permission from the state insurance commissioner to change malpractice insurance costs. There is the least severe method, so called “no file” the only requirement of which is for insurance companies to keep the records of established rates; therefore they don’t have to inform the state insurance commission. Thus, one may consider market’s control as a way to keep insurance premiums low but it’s actually can restrain physicians to have lower malpractice insurance rates because insurance companies do not have right to change the cost of policy.
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