The medical malpractice insurance market in Georgia is one of the most competitive in the nation. With consistent annual rate reductions by at least one company per year, the Georgia insurance carriers are doing whatever they can to secure as much market share as possible. The medical malpractice insurance market is heavily skewed toward one carrier â€” MAG Mutual â€” which represents about 40% of the $300,000,000+ premium in Georgia. With new insurance companies entering the market over the last few years, now is the time to take advantage of the increased competition in an effort to put downward pressure on malpractice insurance premium levels.
Georgia Tort Reform
The tort reform enacted by Senate Bill 3 in July of 2005 was called into question in the spring of 2010. The Georgia Supreme Court declared that the $350,000 cap on non-economic damages in medical liability lawsuits was unconstitutional and violated the right to trial by jury. Despite this ruling, the Georgia medical malpractice insurance market has remained stable â€” only time will tell how this will ultimately affect the insurance companies' ability to keep the market where it is currently. The good news is that the remaining provisions of Senate Bill 3 (Georgia Tort Reform) are still intact, including:
- Statements of apology are not admissible
- Establishment of Emergency Medicine standard of care and liability
- Expert affidavit must be submitted prior to filing a medical liability case
- Joint and Several Liability
- Periodic payments for damages
- Defendants access to plaintiff's health information in medmal cases
Although tort reform in Georgia has been credited with supporting the critical healthcare needs of all Georgia residents, as well as decreasing medical malpractice liability premiums, it has not reduced the need for all practicing medical professionals to carry Georgia medical malpractice insurance.
An overview of this sweeping tort reform finds that:
- Patients have two years to file a claim if injury or death occurred as a result of alleged malpractice Â§ 9-3-71(a).
- Patients have up to five years to file a medical malpractice claim after wrongful acts/omissions Â§ 9-3-71(b).
- In 2010, the Georgia Supreme Court rejected a cap on compensatory damages, stating caps were unconstitutional (Atlanta Oculoplastic Surgery, P.C. v. Nestlehutt).
- Hospitals cannot be held liable unless an employment or agency relationship exists.
Lower Medical Malpractice Insurance Costs
One notable benefit of tort reform is the fact that Georgia medical malpractice insurance companies are offering medical malpractice insurance at lower premiums. Reducing awards composed of excessive compensation has fortunately allowed medical malpractice insurance companies in Georgia to provide physicians with affordable and essential malpractice insurance.
Before dozens of states enacted tort reform laws, patients could sue doctors for medical malpractice and be awarded an unlimited amount of compensation for economic and non-economic damages. Consequently, insurance companies balked at offering malpractice insurance or demanded exorbitant premiums from physicians just to carry malpractice insurance.
With thousands of medical professionals practicing without insurance, states realized they had to do something to reduce malpractice insurance premiums to retain good, ethical doctors. Tort reform emerged as the primary solution, which has led to Georgia medical malpractice insurance premiums dropping significantly.
Major Malpractice Insurance Companies
- MAG Mutual Insurance Company
- The Doctors Company
- Medical Protective Company
- First Professionals Insurance Company (now TDC)
- ProAssurance Company, Inc.
- Medicus Insurance Company
- Hudson Insurance Group
Medical Malpractice Insurance Rates By Specialty (Top 15)
Rates depend greatly on specialty. Physicians offering high-risk care, such as surgeons, have higher rates than doctors in lower-risk areas. Prices will vary, though, based on your claim history and location in addition to your specialty. Always talk to an insurance expert to get a more specific quote for your malpractice insurance.
Below are undiscounted state filed rate data averages across all territories for
$1m / $3m limits
* Please note that the above rates are state filed rates. It is not
uncommon for Gallagher Healthcare clients to receive up to 50% or more in discounts
from state filed rates. Please Request a Quote to receive a custom premium indication.
|Specialty||Average Rate||Min Rate||Max Rate||Count
|Internal Medicine No Surgery||$11,544||$6,378||$15,204||2945
|Family Practice No Surgery||$11,258||$6,378||$15,204||2844
|Pediatrics No Surgery||$12,655||$9,245||$15,204||1596
|Obstetrics and Gynecology Major Surgery||$64,049||$49,891||$73,350||1025
|Radiology - Diagnostic||$15,009||$8,285||$21,894||869
|Orthopedic Surgery No Spine||$33,188||$17,140||$46,627||611
|Cardiovascular Disease Minor Surgery||$18,150||$10,855||$21,894||534
|Ophthalmology No Surgery||$8,645||$4,000||$11,736||474
|Gastroenterology No Surgery||$13,943||$9,713||$20,071||396
|Neurology No Surgery||$15,939||$9,713||$20,517||356
Rate Range by Specialty
This chart compares the range of possible state filed medical malpractice premium rates by admitted markets and a few Gallagher Select markets broken out by the top 15 specialties in Georgia.
USA Ranking Map
The map below provides a visual display of the nation and compares what a typical primary care physician might pay compared to each individual state and county. This research is based on the average rate for a single specialty, the most common limits in that state, and the mature claims made premium. The darker the blue, the higher the average premium, see how Georgia compares to other states.
Work With Gallagher Healthcare Today
As the most trusted and reputable insurance advisor operating in the U.S. today, Gallagher has helped thousands of medical professionals get medical malpractice coverage to ensure the long-term viability of their practice â€” while also giving them peace of mind in the event a patient files a medical malpractice claim against them.
We also believe in addressing the totality of a client's needs by providing Georgia medical malpractice insurance that adequately covers your best interests in the most affordable way possible. Contact Gallagher today to receive the best quotes for medical malpractice insurance rates in Georgia.