Georgia Medical Malpractice Insurance
Summary of the Georgia Medical Malpractice Insurance Market
The medical malpractice insurance environment in Georgia is quite competitive. Despite concerns about the 2010 overturn by the Georgia Supreme Court of the cap on non-economic damages put into place in 2005 rates have continued to trend slightly down year upon year. In 2013 rates declined a little over 1% in keeping with the trend over the past few years. And while the average indemnity payment in Georgia continues to be somewhat higher than the national average the total number of indemnity payments continues its downward trajectory, down nearly 25% from 2009-2012. Additionally, the percentage of claims over $1M in Georgia remains below the national average by about half a percent.
The top five carriers in the state represent about $185,000,000 in premium and represent about 65% of the market share. As of 2012, the state's largest carrier, Mag Mutual writes over 35% of all the business in Georgia. However, new carriers that have entered the state have played a role in increasing competition and driving premiums down.
eQuoteMD™ Saves Georgia Physicians Money
Requesting Your Free Quote Today Could Save You Between 20−40%
- Every Specialty & Facility in Georgia
- Save an Average of 25% on Premium
- Claims Free & Board Certified Discounts
- Bind Coverage Today
- Receive Multiple Quotes on Rates
- Occurrence & Claims-Made Coverage
- Coverage for Doctors with Claims
- ”A+“ Rated Companies
Georgia Doctors Start Saving Today!
Requesting a free medical malpractice insurance quote today can save physicians up to 40% on premiums. eQuoteMD™ has coverage options available and access to lower premiums.
Georgia Tort Reform Summary
In March of 2010, the Georgia Supreme Court ruled that $350,000 cap on non-economic damages in medical malpractice lawsuits was unconstitutional. The question is how this will affect Georgia Tort Reform, Senate Bill 3, which went into effect in July of 2005.
Senate Bill 3 sought to do the following:
- Cap non-economic damages at $350,000
- Provide joint and several liability
- Provide for periodic payments for damages
- Statements of apology are not admissible
- Expert affidavit must be submitted when filing a medical malpractice case
- Establish standard of care and liability relating to emergency medicine
- Provide defendants access to plaintiff’s health information in medical malpractice cases
- Provide for provisions that govern vicarious liability of hospitals for healthcare providers relating to employment status of either employees or independent contractor
Of those provisions, most remain in effect with the notable exceptions of the cap on non-economic damages and certain aspects of the provision of access to health information that were deemed by the court to fall afoul of federal law as outlined in the Health Insurance Portability and Accountability Act (HIPAA).
Prior to the passing of SB 3 the medical malpractice environment in Georgia was unstable. Premiums were rising, medical malpractice claims payouts were increasing, availability of coverage was decreasing, scope of practice was affected, ER services were reduced, and doctors were either retiring early or moving out of state.
With the passage of SB 3 premiums decreased, payouts decreased, and the number of insurers increased. And while the impact of the Supreme Court ruling may not be known for years due to the time it takes for cases to work their way through the appeals process, so far things have remained fairly stable. One can be hopeful that the increased competitiveness in the marketplace as well as the provisions of SB 3 that have stood up will be enough to keep premiums low and markets stable, but the long term effect of the reversal of the damages cap remains something we will be watching carefully.
External Links & Resources for Georgia Physicians & Surgeons
The SIMPLEST way
to SAVE money
Are you saving the most money on your medical malpractice coverage in Georgia?
- Quotes from Multiple “A++” Rated Georgia Medical Malpractice Insurance Companies —
Compare premiums to get the highest quality coverage at the lowest rates possible.
- Coverage is Available in All 50 States for Georgia Physicians
- Prior Acts Coverage Included —
No need to purchase separate tail coverage.
- Access to Multiple Discounts —
- New to Practice Discounts
- Claims Free Discounts
- Medical Group Discounts
- Part-Time Practice Discounts
- Years in Practice Discounts
- American Board Certified Discounts
- Coverage for All Types of Procedures —
Examples include, but are not limited to:
- Medical Spa Procedures
- Weight Loss (including HCG)
- Bariatric Surgery
Recent Blog Posts
December 15, 2014
December 8, 2014
$200 Million Dollar Settlement along with Reforms in Pennsylvania Malpractice Fight, but State will Keep What it Took
November 20, 2014
November 11, 2014