Kentucky's professional liability insurance marketplace and legal climate are marked by overall stability. For the past few years, there have been no major instances of tort reform or legislative change. One reason may be because Kentucky Constitution Section 54 explicitly states that the General Assembly cannot limit the amount that someone can recover for injuries to themselves or their property or injuries that result in death.
While other states debate legislation regarding caps for non-economic damages or other damages, Kentucky has a Constitution that ensures these types of debates do not gain a foothold. Kentucky also doesn't have a cap on attorney fees nor a patient compensation fund. When a coalition of medical and business interests did attempt to institute a medical review panel in hopes of limiting medical malpractice cases, the proposal did not move past the state House.
Even if the measure was passed, it may not have had a significant effect on medical malpractice insurance premiums in Kentucky. Premiums in the state have stayed similar to the national rates for many years. While the medical review panel may have reduced the number of claims litigated, it is not clear whether premiums would have been impacted.
Due to the tort reform and caps, Kentucky sees medical malpractice payouts higher than the national average. Both the severity of claims and the number of claims have been steadily increasing over the past several years.
Kentucky Medical Malpractice Insurance Fast Facts
If you are a physician or practice administrator looking for medical malpractice insurance in Kentucky, you may be wondering about how malpractice insurance for doctors in Kentucky works. Do you need to carry physician malpractice insurance in Kentucky? How much malpractice coverage should you carry? How much is medical malpractice insurance in Kentucky?
Below, we answer these commonly asked questions. You may also want to speak with an insurance professional at Arthur J. Gallagher & Co. for answers that are tailored to your location and specialty.
1. Are You Required to Carry Malpractice Insurance in Kentucky?
Kentucky is one of many states that does not mandate that physicians purchase medical malpractice insurance. Though you are not required to carry malpractice insurance in Kentucky, you may still face requirements from health care facilities and health insurance plans in regards to carrying coverage.
Many health care facilities mandate that doctors who have visiting privileges carry medical malpractice insurance. Health insurance plans may also require physicians to obtain malpractice insurance to participate in the plan. If you choose to go bare, you will not have protection if you face a malpractice lawsuit. You may end up paying a large sum and risk your professional reputation if you forgo this coverage.
2. How Much Malpractice Insurance Do I Need in Kentucky?
Kentucky medical malpractice insurance requirements are dependent on where you are located and your specialty. The health care facilities in your area may have minimum carrying requirements, so if you want to work at these facilities, you will need to obtain the minimum amount of coverage they require. If you practice a high-risk specialty, you may need more coverage than a physician who practices in a lower-risk area.
3. How Much Does Malpractice Insurance Cost in Kentucky?
The average cost of medical malpractice insurance in Kentucky varies depending on your history of medical malpractice claims, county and specialty. For some physicians, Kentucky malpractice insurance rates may be higher due to having a history of many malpractice claims or due to practicing a higher-risk specialty.
The type of medical malpractice insurance policy you select can also influence your rate. If you choose an occurrence policy over a claims-made policy, for example, you may pay a higher rate for your insurance coverage. If you add on additional coverage, such as tail or nose coverage, you may also pay a higher cost for medical malpractice insurance in Kentucky.
Statute of Limitations
According to the statute of limitations in Kentucky, an action must be brought against a physician for malpractice within one year. If an injury occurred to your spouse or child, you also need to commence an action within one year after the injury is sustained.
Top Carriers in Kentucky
The top medical malpractice insurance carriers in Kentucky change frequently. The market tends to change often when established companies merge and new insurers enter the market. At Gallagher, our national connections to the top carriers in Kentucky can help you obtain the best possible coverage terms and rates. Below is a list of some of the top carriers in Kentucky.
- Medical Protective Company
- Kentuckiana Medical Reciprocal
- ProSelect Insurance Company
- ProAssurance Casualty Company
- National Fire & Marine Insurance Co
- State Volunteer Mutual Insurance Company
- MAG Mutual Insurance Company
- Columbia Casualty Company
- MedChoice Risk Retention Group, Inc.
- NORCAL Mutual Insurance Company
- Doctors Company
Medical Malpractice Insurance Companies in Kentucky
With so many medical malpractice insurers serving Kentucky, you may struggle to find the best coverage available to you. Most health care providers are not able to obtain the best rate on their own. This is why so many turn to us at Gallagher. When you have an insurance advisor like Gallagher in your corner, you can easily navigate the many insurance companies and coverage options on the market.
Kentucky Medical Malpractice Insurance Rates by Specialty
Kentucky malpractice insurance rates vary by specialty. Health care providers who offer higher-risk care, like surgeons, tend to pay more for insurance than providers who offer lower-risk care. Additionally, prices vary based on your location and claim history. To obtain a quote for medical malpractice insurance that is more specific to your circumstances, speak with an insurance expert at Gallagher.
Why Partner With Gallagher in Kentucky
At Arthur J. Gallagher, we are focused on helping health care professionals find Kentucky medical malpractice insurance to help protect their practice. Our goal is to protect your reputation and your balance sheet. We can explain the solutions available to you to help you find the right fit when it comes to Kentucky medical professional liability insurance.
By partnering with us at Gallagher, you will have access to Kentucky's largest medical malpractice insurance provider. We interact actively with all of the major insurers in the state, which means we can negotiate the best available terms for you. With us, you can speak with a real expert in Kentucky medical malpractice coverage.
You will not have to pay us for finding the insurance policy that is right for you. Partnering with us is the best way to obtain the most favorable coverage terms.
Resource for Physicians in Kentucky
While Kentucky state law does not mandate that health care providers carry malpractice insurance coverage, you may not be able to practice at certain health care facilities without it. At Gallagher, we have helped many doctors and medical facilities obtain the coverage needed and the terms available, and we can do the same for you.
Medical malpractice insurance can provide protection for your professional reputation and personal assets. If you are a physician or practice administrator looking for coverage in Kentucky, contact us at Gallagher today to discuss your needs or to get a quote for malpractice insurance.
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 Kentucky.
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 Kentucky compares to other states.