Medical Assurance Co. of Mississippi, a physician owned provider which covers about 70 percent of the state’s physicians, has announced a 5 percent decrease in its 2006 malpractice rates and a 10 percent refund on 2005 premiums.
The premium reductions are Mississippi doctors’ first taste of relief from malpractice insurance premiums since the legislature approved tort reform legislation three years ago.
The reduction was approved by MACM’s board of directors.
In 2004, the Mississippi Legislature approved limits on civil lawsuits in response to complaints that high insurance rates were driving physicians out of the state.
If MACM’s financial position continues its recovery from the underwriting difficulties experienced in recent years, the company’s board has approved a refund of 10 percent of the premium paid by those insured in 2005.
The refund will be based on the first $1 million of coverage for physicians insured with the company as of Dec. 15, 2005.
Topics Mississippi
Was this article valuable?
Here are more articles you may enjoy.
Lloyd’s Probing Conduct of Ex-CEO Who Had Been Set to Join AIG 
Lawsuit Alleges Farm Bureau Financial Concealed Fraudulent Activities 
P/C Insurer Rankings Down Overall on Higher Costs, Changing Customer Expectations 
Royal Bank of Canada Denies Claims of ‘Boys Club’ Culture, Bias Against Women From This Issue
