Texas Medical Liability Trust (TMLT) announced plans to reduce rates by an additional 5 percent for member physicians. The 5 percent reduction is in addition to a 12 percent rate cut the insurer implemented earlier this year. TMLT said together the rate cuts would translate into a $34 million savings for Texas physicians and are the result of the stabilizing medical liability market made possible by legislative reforms and passage of Proposition 12 last year. The new rate reduction are effective Jan. 1, 2005. TMLT, Texas’ largest medical liability insurance provide, serves 48.2 percent of the available physician market in the state. Since announcing the 12 percent rate cut in January 2004 , the company has added more than 1,600 new physician policyholders.
Topics Texas
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