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Malpractice Insurance Discounts

Malpractice Insurance Discounts

Professional liability insurance

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Everybody knows that malpractice accidents take place as a result of doctor’s negligence or in case of inadequate treatment of an illness or misdiagnosis. In this case, patients said that physician has failed to ensure appropriate degree of care and skill that another medical professional would have given under the similar circumstances.



It goes as no surprise that doctors and other health professionals must purchase medical malpractice insurance that provides liability protection from lawsuits and cover legal costs and settlements. In general, every physician must have physician malpractice insurance in order to have the right to practice in medical facilities and see patients. Moreover, the majority of states require medical insurance coverage from doctors.

Medical malpractice insurance is one of the highest recurring costs a physician will face over their career.   


So, what can you do to reduce the cost of your medical liability insurance? 


  • Do your best to stay claim free
  • Complete risk management CMEs if your carrier accepts them in exchange for discounts
  • Ask your agent which CME programs would qualify
  • Ask if they could provide any discounts on the cost of the CME or if it might be free
  • If you have had a claim(s), please be transparent with your agent, so they can present you in the most positive light
  • Ask your agent for any other discounts that might be available, including:
  • New-to-Practice discount
  • Claim-free discount
  • Part-time discount


Medical Malpractice Insurance – Rate by State

Insurance for doctors can be bought by medical professionals separately or as a group from malpractice insurance providers or from physician-operated mutual organizations. Hospitals as well as other health care establishments usually purchase malpractice insurance on their own. Those doctors who work directly for hospitals are covered by the facility’s policy.


Still in some states and in the federal government caregivers aren’t obliged to purchase the liability coverage as they are defended from malpractice lawsuits by the government.


The premiums that are usually a part of liability insurance usually depend upon the great amount of factors: upon the “expected payouts” of insurance brokers, upon the doctor’s specialty and his/her everyday risks, the number of hours that doctor spends in the hospital etc. Malpractice insurance providers also take into consideration the experience for hospital and locations as well as type of services that are offered by medical institutions.

It should be noted that medical malpractice insurance rates are regulated by the state insurance commissions that are responsible for adequate cost of insurance. Still the price of malpractice coverage varies from state to state; this fact explains the difference in premiums. While in the majority of state premiums are regulated, some states have freedom to define the premiums’ cost.


If we are talking about time frame, it usually takes up to 5 years to resolve the malpractice. That’s why it’s sometimes difficult for malpractice insurance brokers to determine the liability that they may incur.


Get your piece of mind purchasing physician malpractice insurance. Contact us to get a free no-obligation quote and define your individual policy price.

Medical Malpractice Insurance Pricing

While liability insurance underwriters will determine the cost of your specific policy, it should also be noted that medical malpractice insurance rates for admitted insurance carriers are regulated by the state insurance commissions.


So, what are the factors that impact the cost of your medical malpractice insurance premium? 


  • Location:  both your state and county
  • Specialty
  • Number and severity of previous claims:
  • If you've had any claims, please let your agent know --we will work to position you and your situation in a positive manner
  • Usually claims more than 10 years old are not considered unless they had a large payout
  • Number of hours per week:
  • If you are only working part-time, please let us know
  • For a practice, or for a provider who has individuals working under them, the number of providers to be covered under the policy

Hard Market vs Soft Market


A final factor influencing the price of medical malpractice insurance is the state of the overall medical malpractice insurance market.  Much like the financial markets, the insurance market goes through cycles of being a "hard" market or a "soft" market.


In a hard market, insurance companies raise their rates, sometimes exit states, and there is less choice in carriers. 


In a soft market, insurance companies lower their rates to be more competitive, and aggressively go into new states that they may not have previously operated in. 


We are currently in a hardening market.  Prices have gone up over the past few years, but seem to have leveled off.  As long as there is inflationary pressure, we are cautious that prices may go higher.   


We would be happy to answer any questions you might have about medical malpractice insurance! Contact us today to get a free no-obligation quote.

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