First Professionals Files Rate Cut for Illinois Physicians, Surgeons

First Professionals Insurance Co., Inc. (First Professionals) recently submitted a proposed medical professional liability rate and rule filing for physicians and surgeons in Illinois. First Professionals has announced that current insureds will not see a base rate increase for their First Professionals policies in 2011.

First Professionals has proposed changes for certain specialties along with changes to territory factors that may result in significant decreases for some insureds. The overall impact of the changes is a 3.8% premium income decrease. Some insureds will see no change, while others may see decreases of as much as 18% or more, depending upon their specialty and where they practice. These changes are effective for new and renewal business written on January 1, 2011 and thereafter.

The 3.8% premium decrease is attributed by First Professionals to its practice of providing insurance only to Illinois physicians and surgeons with favorable loss histories. This approach was established in 2008 when First Professionals joined forces with an exclusive risk purchasing group, Bentley RPG, LLC (Bentley).

The Bentley program is available to licensed Illinois physicians in private office practices or hospital-based practices who meet all qualifications for membership and coverage in the program.

Source: First Professionals

Topics Illinois