Austin, Texas-based medical professional liability insurer, Medicus Insurance Company (Medicus) has announced an overall 11 percent rate decrease for its insureds in Texas. The Texas Department of Insurance approved the reduction effective May 15, 2009.
Medicus is in its third year of insuring physicians and surgeons in Texas. The company attributed the rate modification to the positive effects of tort reform, a strong financial standing and the spread of risk over 18 states.
The cost reduction varies by specialty. Many physicians will see a reduction in premiums and some specialties, such as Emergency Medicine, Anesthesiology, and Orthopedic and General Surgery, will see even more significant savings, Medicus said.
Medicus was founded in Texas and is a fully admitted and regulated medical professional liability insurer in 18 states.
Source: Medicus Insurance Company, www.medicusinsurance.com
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