Dollar for dollar, Minnesota has some of the lowest premiums for medical malpractice insurance in the country. Physicians and surgeons in the Land of 10,000 Lakes benefit from low premiums in spite of the lack of caps on damages for medical liability lawsuits.
In an effort to bring much-needed competition and product choice to Minnesota's physicians and surgeons, several physician insurers have recently entered the market. But healthcare providers are largely unaware of the increased competition and new options. There are several physician insurers competing heavily for new business with policy offerings that encompass the most-needed features for physicians.
Some of the policy features one can expect on their Minnesota medical malpractice insurance policy include:
- Defense costs outside of the limits
- Full consent to settle
- Regulatory proceeding insurance
- Cyber liability insurance
- Business entity coverage
- Licensing action defense
Minnesota Medical Malpractice Insurance Facts
If you are a doctor who is new to Minnesota, you may have many questions about the state's medical malpractice insurance. We have the answers you need for questions about Minnesota medical malpractice insurance requirements, such as whether you are required to purchase coverage, how much coverage you need and the cost of medical malpractice insurance in Minnesota. To receive tailored responses to your questions based on your location and specialty, you can speak with one of our insurance experts at Arthur J. Gallagher & Co.
1. Are You Required to Carry Malpractice Insurance in Minnesota?
Minnesota is one of many states that does not require physicians to carry medical malpractice insurance. Though you may not be required to carry coverage in Minnesota, you may still want to purchase a policy. In certain circumstances, you may even be required to carry coverage.
Many healthcare facilities in the country require physicians with visiting privileges to carry medical malpractice insurance before they are allowed to practice in the facility. On top of this, malpractice coverage protects your assets and your professional reputation in the event that you face a lawsuit for malpractice. Even in light of liability limits and tort reform, medical malpractice coverage can save a medical professional from losing significant assets due to a lawsuit.
2. How Much Malpractice Insurance Do I Need in Minnesota?
Medical malpractice insurance requirements are based on your location and specialty. Typically, medical professionals who perform operations will need more coverage than physicians who do not, as there is an increased risk to a surgeon's patients. If facilities require visiting physicians to carry a minimum amount of coverage, you may want to purchase that coverage amount so you can work in the majority of healthcare facilities throughout the state.
3. How Much Is Malpractice Insurance for Doctors in Minnesota?
How much does malpractice insurance cost in Minnesota? Rates depend on your malpractice claims history, your county and your specialty. Doctors practicing higher-risk specialties may want to purchase more coverage than doctors practicing lower-risk specialties, as patients who are exposed to greater risk levels may be able to sue for more in a malpractice lawsuit.
Carrying a greater amount of malpractice coverage will increase your rate. Additionally, your rate may be impacted by the coverage options and policy type you choose, such as a claims-made policy or an occurrence policy:
- Claims-made policy: Under this policy type, you will only have coverage while your policy is active.
- Occurrence policy: Under this policy type, you will have coverage for incidents that occur during your policy's active period. If a malpractice incident takes place while you have coverage, but the patient doesn't pursue a claim until after your policy expires, you will still have coverage.
While an occurrence policy tends to have a higher premium than a claims-made policy, it can potentially save you money in the long term.
Tort Reform in Minnesota
While there is no cap on any damages in medical liability lawsuits filed in Minnesota, the state's legislature has passed several other protections to help ward off frivolous claims made against physicians and surgeons. The standing liability reforms are as follows:
- Although not required, a system of voluntary, non-binding alternative dispute resolution processes has been established.
- Expert witness testimony is required, especially with regard to breaches of the standard of care.
- An affidavit or certificate of merit is required to be filed within 180 days of filing a claim against a physician or surgeon.
Statute of Limitations
The following are the key facts to know for the statute of limitations in Minnesota:
- Legal action must be commenced within four years of the date of the incident.
- Action must begin within one year in cases of wrongful death.
- For cases involving an infant, the plaintiff has until they reach the "age of maturity" to file a claim.
Top Carriers in Minnesota
The top malpractice insurance carriers in Minnesota tend to change every few years as new companies enter the market and existing insurers merge. At Arthur J. Gallagher & Co., we have connections to insurance companies throughout the nation, and we can connect you with all these carriers to find the best coverage for your insurance needs.
Insurance Companies in Minnesota
Since there are various medical malpractice insurance companies in Minnesota, you may face difficulty finding an insurer that offers the coverage that meets all your insurance needs. Most physicians are not able to find the best rates on their own. This is why an advisor like Gallagher can be a valuable resource for you.
We can provide multiple quotes and will consider the year the provider was founded, the company's AM Best rating and whether a carrier offers free tail provisions to help you find the right fit.
Minnesota Medical Malpractice Insurance Rates By Specialty
Minnesota malpractice insurance rates depend on your specialty. Doctors who offer high-risk care tend to pay higher rates than physicians in lower-risk areas. Rates will also vary based on your location and malpractice claim history. Speak to an insurance expert at Gallagher to get a quote that is specific to your unique situation.
Why Partner With Gallagher in Minnesota
When you choose to partner with us at Gallagher, you can gain access to the largest advisor for medical malpractice liability insurance in Minnesota. Since we actively maintain connections with all major carriers in the nation, we can find the best possible terms for you.
Resource for Physicians in Minnesota
Though you may not be required to carry malpractice insurance under Minnesota state law, you may not be able to practice at certain facilities without coverage. Gallagher is a reputable, trusted advisor for malpractice insurance coverage, and we can help you find affordable policies with the coverage terms that are right for you. Contact us if you want more information about medical malpractice insurance in Minnesota, or request a quote from us today.
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
|Family Practice No Surgery||$5,067||$3,860||$7,556||3176
|Internal Medicine No Surgery||$5,538||$3,860||$9,035||1962
|Pediatrics No Surgery||$4,796||$3,638||$7,556||871
|Radiology - Diagnostic||$6,140||$3,783||$9,528||769
|Obstetrics and Gynecology Major Surgery||$22,844||$15,133||$32,852||603
|Orthopedic Surgery No Spine||$14,327||$9,651||$19,711||490
|Cardiovascular Disease Minor Surgery||$7,942||$5,405||$12,484||466
|Neurology No Surgery||$7,056||$4,826||$11,170||417
|Gastroenterology No Surgery||$6,098||$3,626||$11,170||337
|Ophthalmology No Surgery||$3,531||$3,088||$4,600||331
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 Minnesota.
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 Minnesota compares to other states.