Florida Medical Malpractice Insurance

Dade County, Broward County and Palm Beach county have long been considered three of the worst counties to practice medicine as they are three of the most litigious counties in the country for medical malpractice insurance. In fact the American Medical Association (AMA) has listed these counties as three of the top “judicial hellholes” in America. Premium rates in these three counties are some of the highest in the nation. eQuoteMD can help doctors practicing in the state Flordia save money on their liability insurance premiums.

Guaranteed Malpractice Coverage for Florida Physicians

Lower Premiums Available with Access to —

• Coverage for Pain Management Clinics
• “A” Rated Risk Retention Groups & Admitted Insurance Companies
• Low Cost Options for Miami-Dade, Broward & Palm Beach Counties

• Coverage for “Bare” Physicians
• Better Options for Doctors Insured by JUA
• Retirement Plans Available
• Dividend Options Available

Statistics for Florida Health Care Providers & Physician Insurance

• Registered Doctors — 58,547
• Total Health Care Employment — 643,789
• Total Hospitals — 211
• Annual Malpractice Insurance Claims — 800-900
• Average Medical Malpractice Payout — $278,620
• Total Premiums in the State of Florida — $568,547
• Total Physician Premiums in the State of Florida — $351,000,000
• “Bare” Doctors in Florida — 7-9% of Total Registered Physicians

The History of Florida Medical Malpractice Insurance

Florida was considered one of the worst states for medical professional liability insurance companies and for physicians in the early 2000's. Florida did not have tort reform in place became one of the “hardest markets” in the United States. South Florida, referring to Miami and Palm Beach, were considered the worst cities in America for medical malpractice.

Premiums rates for medical malpractice insurance became so expensive that a large percentage of doctors dropped their medical liability insurance and practiced bare. Many Florida physicians made sure their assets were protected and practiced in with no malpractice insurance in accordance with the Florida law. Since tort reform, rates have decreased significantly in Florida allowing doctors to find affordable physician malpractice insurance.

Summary of the Florida Medical Malpractice Insurance Market

Florida is the fifth largest market for medical malpractice insurance by direct written premium, totaling $550,211,219. There are 22 carriers that make up 80% of this total written premium in Florida. This is up from 17 medical malpractice insurance carriers in 2007 and 15 carriers in 2005. Premiums for Florida medical malpractice insurance decreased on an average 8% from 2008 to 2009. Based on the return of surplus for the leading carriers, Florida has experienced its sixth straight year of broad profitability in the medical liability insurance industry.

All of these factors indicate that the Florida medical malpractice insurance market has stabilized as a marketplace. More medical professional liability insurance carriers are writing business and this competition has lead to decreasing rates on average.

Pain Management Clinic Coverage in Flordia

Pain management clinics have been receiving much attention from the state legislature in Florida. “Pill Mills” as they are sometimes referred to, are coming under scrutiny and medical professional liability insurance companies have taken notice due to an increased number of claims from patients receiving care in from pain management facilities.

The medical malpractice insurance companies in Florida have started tightening restrictions on who they will issue insurance policies to, with some companies focusing their efforts, with regards insuring doctors who run pain management clinics, only if the doctor is board certified or specialized solely in anesthesiology. It is expected that in 2012 s.893.03 will pass, further regulating the pain management clinics in Florida.

How Florida Medical Malpractice Insurance is Unique

Florida is a unique state as most physicians carry limits of $250,000/$750,000. This is significantly lower than the standard physician malpractice insurance limits around the country, which are $1,000,000/$3,000,000. The hospitals in Florida allow doctors to have hospital privileges with the lower medical liability limits. Additionally, medical professionals in Florida do have the option of selecting $1,000,000/$3,000,000 or choosing to ”go bare“ altogether.

Florida Tort Reform

Medical malpractice claims have a cap of $500,000 for non-economic damages. However depending on who is at fault, the cap can be increased up to $1.5 million. Hospitals in the state of Florida have different caps than physicians. Emergency room doctors were hit very hard during the hard market in the early 21st century. Since then Florida has placed a cap on non-economic damages for emergency medicine doctors of $150,000.

External Links & Resources for Florida Physicians & Surgeons

• Florida Medical Association (FMA)
• Florida Board of Medicine
• Florida Hospital Association (FHA)
• Florida Academy of Family Physicians (FAFP)
• Florida MGMA
• Orange County Medical Society (OCMS)

• Sarasota County Medical Society
• Collier County Medical Society (CCMS)
• Dade County Medical Association
• Palm Beach County Medical Society
• Florida Society of Ambulatory Surgical Centers (FSASC)