A group of Kent County, Delaware doctors has decided to form a risk retention group to provide malpractice coverage.
According to Insurance Commissioner Matthew Denn, the group is tapping the state’s Medical Malpractice Initiative Pilot Program, which loans $500,000 to doctors to set up their own medical malpractice insurance entities.
These doctor-owned groups promise to reduce premiums through lower overhead, the elimination of profits and better self-policing when it comes to managing risks.
Dr. Thomas Barnett, a Dover surgeon, said that an initiative like this to help the state’s doctors reduce their medical malpractice costs is badly needed, especially downstate, where he says doctors have left practice due to high insurance premiums.
“We have gone from three neurosurgeons in 1999 at Kent General to zero today. With OB-GYNs, we’ve gone from 15 a few years ago to eight,” Dr. Barnett maintained. “This will help us attract those specialties.”
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