Idaho Medical Malpractice Insurance
Idaho medical malpractice rates are considered quite reasonable and are below the national average. In addition, there is low physician density in the state, meaning there is considerable incentive to make Idaho attractive to doctors. Tort reforms are advantageous to physicians, and with a little work, it is possible to keep overhead down to build new career opportunities in the state.
A few companies account for the majority of the medical malpractice insurance market in Idaho. There are other options available, but you may need to partner with an experienced advisor to find them. If you are contributing to the state's public good by providing healthcare services, you deserve to enjoy quality medical malpractice insurance that protects your practice and your future. At Arthur J. Gallagher & Co., we understand that and work harder to bring you solutions that work.
When you are looking for medical malpractice coverage, it is important to review multiple insurance solutions. Unfortunately, the insurance market changes all the time. You may be paying too much for medical malpractice insurance right now, or there may have been significant market or legal changes since the last time you reviewed your program, which could qualify you for better rates. You don't have time with a busy practice to invest weeks in researching the insurance market.
Instead, let the professionals at Gallagher find the right solutions and bring them to you. We take all the work out of the equation, so you only need to review your best options and apply.
Idaho Medical Malpractice Insurance Fast Facts
If you are a physician who is new to Idaho, you may have questions and concerns about the Idaho medical malpractice insurance requirements. Do you need to carry medical malpractice coverage? How much is malpractice insurance for doctors in Idaho? How much coverage do you need? Below, we address these frequently asked questions:
1. Are You Required to Carry Malpractice Insurance in Idaho?
Idaho is one of several states that does not require medical professionals to carry medical malpractice insurance. Idaho also does not have any minimum carrying requirements. Though there is no coverage requirement in this state, many doctors still face requirements for carrying malpractice insurance. Many healthcare facilities mandate that doctors who have visiting privileges need to carry medical malpractice insurance to practice in the facility. Additionally, healthcare insurance plans may require a physician participating in coverage to carry malpractice insurance.
When you go without coverage, you will not have any protection if you are sued for malpractice by a patient. Even if you are not required to carry malpractice insurance in Idaho, you may still want to obtain coverage to protect your personal assets and professional reputation.
2. How Much Malpractice Insurance Do I Need in Idaho?
How much coverage you need depends on where you are located and what your specialty is. A medical professional who does not perform operations, for example, will not need as much coverage as a surgeon. The greater the risk to the patient, the more coverage you may need.
You may also want to consider what the minimum coverage is for the facilities you wish to work in. If a facility requires a minimum coverage amount of $200,000/$600,000, you may want to purchase a policy for this amount. In this case, your insurance provider would pay out $200,000 per claim and your annual limit would be $600,000.
3. How Much Are Idaho Medical Malpractice Insurance Rates?
Insurance rates are affected by your county, amount of coverage and history of malpractice claims. The more coverage you carry, the higher your insurance rate will be. You may want to consider the different kinds of policies available to you, as your choice of policy type will also impact your insurance rate:
- Claims-made policy: A claims-made policy only covers malpractice claims made while your policy is active, regardless of when the event takes place. If a patient decides to make a claim against you after your insurance policy expires, you may not have coverage for the suit.
- Occurrence policy: An occurrence policy provides coverage for any incidents that take place while your coverage is active. Thus, if one of your patients brings a claim against you after your policy expires and the incident happened while your policy was active, your insurance will likely cover the cost.
- Nose coverage: To further supplement your coverage, you may want to obtain nose coverage on your policy. This provides you with retroactive coverage.
- Tail coverage: You may also want to extend your protection by purchasing tail coverage. Tail coverage will provide you with coverage for years after your policy's official expiration.
While doctors tend to choose claims-made policies because of their lower premiums, the cost of claims-made policies actually increases over time. Even with the increasing cost, a claims-made policy may still be more affordable than an occurrence policy. However, an occurrence policy may be worth the greater upfront cost, as it offers more protection.
For more specific answers that are tailored to your situation, speak with an insurance professional at Gallagher.
Tort Reform in Idaho
In 2003, the non-economic damage cap in Idaho was reduced from $400,000 to $250,000, with provisions to adjust the cap for economic factors such as the average annual wage. In Idaho medical malpractice cases, this cap does not apply in situations of reckless misconduct, willful misconduct or felonious conduct. There is also a cap of $250,000, or three times the compensatory damages for punitive damages.
Pre-litigation screening panels are mandatory in Idaho medical malpractice cases. They are designed to determine which claims are meritorious and are created to give all parties a chance to resolve a dispute without litigation. However, these screening panels do not prohibit litigation, and plaintiffs can continue to seek a claim, regardless of the findings of the panel.
Top Carriers in Idaho
The top carriers of medical malpractice insurance in Idaho change every few years as new companies enter the market and existing companies merge. At Gallagher, we have connections to carriers across the nation, which means we can find the best coverage to meet all your insurance needs.
Insurance Companies in Idaho
Several medical malpractice insurance companies serve Idaho. In this market, you may struggle to find an insurer that can offer the best coverage for your insurance needs. Most medical professionals are unable to find the best rates alone, which is why partnering with an advisor like Gallagher can be crucial for physicians in Idaho who are seeking malpractice coverage.
Idaho Medical Malpractice Insurance Rates by Specialty
Malpractice insurance rates in Idaho depend on specialty. Doctors who practice a higher-risk specialty usually pay more for malpractice insurance than doctors who practice a lower-risk specialty. For a more specific quote, you may want to consult one of our insurance experts at Gallagher.
Why Partner With Gallagher in Idaho
Choosing to partner with Gallagher allows you to gain access to the biggest provider of medical malpractice insurance in Idaho. We actively interact with the major insurance companies in the state, which means we can find the best possible coverage terms for you. When you work with us, you will speak with a real expert rather than deal solely with a computer. We can help you find the best rate and terms available, as we have the expertise needed to negotiate with insurance companies.
Resource for Physicians in Idaho
Gallagher Healthcare can help you find multiple quotes and real solutions. We get insurance companies competing for your business. Gallagher reviews all your medical malpractice options with you so you know which options are available. We often uncover options medical professionals were not aware they had. Even if you are high risk, we may be able to find you a better solution.
We have a vast network of insurers and alternate insurance companies to draw upon, and our professionals aggressively seek out new opportunities. The goal is to bring you the best choices and the best rates so you can focus on your patients. We work closely with you to help you explore your needs and find the coverage that matches your practice. Contact us today or request a quote to discuss your needs and goals.
Idaho Medical Malpractice Insurance Rates By Specialty (Top 20)
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 1,000,000/3,000,000 limits.
|Specialty||Average Rate||Lowest Rate||Greatest Rate||Count|
|Family Practice No Surgery||$5,880||$4,024||$6,618||896|
|Internal Medicine No Surgery||$6,418||$4,812||$7,366||247|
|Radiology - Diagnostic||$8,789||$5,075||$10,882||179|
|Pediatrics No Surgery||$5,736||$4,024||$6,998||126|
|Obstetrics and Gynecology Major Surgery||$27,856||$17,497||$33,733||121|
|Orthopedic Surgery No Spine||$16,642||$10,498||$18,701||109|
|Ophthalmology No Surgery||$3,569||$2,450||$5,294||61|
|Cardiovascular Disease Minor Surgery||$8,249||$6,649||$9,272||56|
|Gastroenterology No Surgery||$7,036||$5,900||$8,895||50|
|Urology Minor Surgery||$8,710||$6,649||$10,589||41|
|Neurology No Surgery||$7,853||$5,949||$8,895||39|
|Dermatology No Surgery||$4,182||$2,799||$4,677||36|
|Pulmonary Disease No Surgery||$7,965||$5,949||$9,348||34|
|Pathology No Surgery||$4,923||$3,499||$5,666||33|
|General Practice No Surgery||$5,880||$4,024||$6,618||30|
* 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.
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 20 specialties in Idaho.
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 Idaho compares to other states.
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