Missouri Medical Malpractice Insurance
eQuoteMD™ Saves Missouri Physicians Money
Save Between 20−40%. Request Your Free Quote Today.
- Every Specialty & Facility in Missouri
- Coverage Availabe for Doctors with Medical Malpractice Claims
- Save an Average of 25% on Premium
- Claims Free & Board Certified Discounts
- Receive Multiple Quotes on Rates
- Bind coverage today
- Occurrence & Claims-Made Coverage
- Obtain the Lowest Premiums Available
Missouri Physicians Start Saving Today!
Requesting a free medical malpractice insurance quote today can save physicians up to 40% on premiums. From Cape Girardeau to Northern Missouri — From Saint Louis to Kansas City; eQuoteMD has multiple solutions available for doctors practicing in the “Show Me State”.
Summary of the Missouri Medical Malpractice Insurance Market
Over the past ten years the makeup of the medical malpractice insurance market for Missouri health care providers has changed substantially becoming more competitive than ever. The top five providers insure approximately 60% of the available medical liability insurance market, with the top 10 insuring approximately 85%. And while the makeup of the market has seen a fair bit of change the overall number of claims brought and payments made have been trending downward for some time. In 2005 1,512 new claims were reported, but by 2012 that number was down to 801.
One factor that has spurred development in the Missouri medical malpractice market has been the growth of mutual insurance companies organized under Chapter 383 of the Missouri Revised Statutes. These are also sometimes referred to as “383 companies.”
Under this statute these types of companies are allowed to form as non-stock mutual cooperative that are then allowed to assess policyholders in the event that losses exceed premiums. This risk distribution acts as a substitute for stricter capital and surplus requirements that regulate traditional insurance companies. Both mutual companies and stock companies have been able to offer lower premiums year upon year for about the last decade.
Missouri Tort Reform
On March 29, 2005 House Bill 393, a major tort reform overhaul, was signed into law. The following are a few of the significant provisions within the bill:
- Venue is limited to the place of first injury
- Punitive damages are limited to the lesser of $500,000 or five times the actual damages
- Benevolent gestures of sympathy are inadmissible as evidence of liability
- Non-Economic damages are limited to $350,000 or less
On July 31, 2012 the Supreme Court of Missouri ruled in a 4-3 decision that the cap on non-economic damages (i.e. pain and suffering) was unconstitutional, thus overturning that provision of the 2005 tort reform bill. This follows a trend across the country wherein these kinds of caps are not standing up to scrutiny by the courts. So far there has been little or no observed effect on premiums in Missouri, but, realistically, it will be several years before we know what the long-term market effects are likely to be.
Two bills have been introduced to reinstate the non-economic damages cap, using language that would satisfy the court’s objections. The first one, introduced in 2013, stalled in the Senate, while H.B. 1173 passed in the House in early 2014 and awaits action by the Senate. If voted on it is likely that it will fail in the Senate.
External Links & Resources for Missouri Physicians & Surgeons
The SIMPLEST way
to SAVE money
Are you saving the most money on your medical malpractice coverage in Missouri?
- Quotes from Multiple “A++” Rated Missouri 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 Missouri 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
Latest from the eQuoteMD Blog
July 18, 2014
July 11, 2014