A nonprofit company created during Nevada’s medical malpractice crisis in 2002 to provide insurance for doctors will be able to increase its rates by an average of nearly 15 percent.
State Insurance Commissioner Alice Molasky-Arman has approved a 14.8 percent overall rate increase for Medical Liability Association of Nevada for new business and for doctors renewing their policies. The rate increase would generate about an additional $3.9 million dollars for the association.
Bob Byrd, chairman of the board of the association, said the number of malpractice claims has decreased. But he said it’s not known whether the severity of the claimed injuries has risen.
Byrd also said there have been rate increases for some medical specialties but this is the first overall rate increase since the company was formed in May 2002.
Molasky-Arman said anesthesiologists will see the smallest increase at 5.8 percent. Orthopedic surgeons who don’t perform spinal surgery will see the largest increase: 30.2 percent for doctors in the Las Vegas area and 42.8 percent in the rest of the state.
OB/GYNs in the Las Vegas area will have a 12.5 percent hike while those in the rest of the state will see increases of 23.5 percent.
“Although the rate increase is regrettable, it is necessary to ensure the solvency of the association and to minimize the probability of a future assessment to physicians,” Molasky-Arman said.
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