Pa. Medical Malpractice Insurer Files for 11% Rate Cut

Medical malpractice insurer PMSLIC Insurance Co. has filed for an overall 11 percent rate reduction in Pennsylvania. If approved by the Pennsylvania Department of Insurance, the revised rates will go into effect Jan. 1, 2008.

The decision to file for the rate reduction was attributed to improved loss experience.

The company, formerly owned by the Pennsylvania Medical Society, is owned by NORCAL Mutual Insurance Co. of San Francisco, Calif., and is part of the NORCAL Group.

Editor’s Note and Correction: A previous version of this story incorrectly identified PMSLIC Insurance Co. as the Pennsylvania Medical Society Liability Insurance Co. and reported it was still owned by the Pennsylvania Medical Society. Insurance Journal regrets the errors.

Source: PMSLIC