Nevada’s medical professional liability insurance market has never been particularly stable. Due to nonexistent carrier commitment, demonstrated in 2002 when the state’s largest carrier, St. Paul Insurance
Company, pulled out and left the market virtually free of carrier competition. Lack of carrier commitment and competition accompanied by outrageous jury verdicts resulting in massive payouts led to unaffordable
premiums depleting the quality and availability of healthcare in Nevada. In response, physicians created the Nevada Medical Liability Physicians Task Force to raise attention of the crisis to the public.
In 2002, Nevada’s legislature approved the restructuring of tort legislation throughout the state. The tort reform program placed a $350,000 cap on noneconomic damages. However, exceptions to the tort
reform were available to victims of gross negligence and exceptional circumstances. With this tort reform program failing to provide the desired outcome, the “Keep Our Doctors in Nevada” ballot initiative
was created and approved by voters. Since the omission of the exceptions from the program, the number of claims has dropped, more doctors are entering the state and premiums have started to stabilize.
Nevada Medical Malpractice Insurance Market Summary
Claims-made policies are the most common policy type in Nevada. Claims-made coverage provides coverage for claims that arise during the duration of the policy as long as the incident occurred while the
insured had coverage. The typical limits of liability in the state are $1,000,000 per occurrence with a $3,000,000 aggregate limit. Most hospitals require their doctors to carry these same limits of liability.
Many factors are taken into consideration when determining which carrier to choose. Common factors include:
- AM Best rating
- The year the company was founded
- Coverage trigger
- Free tail provisions
Since the mid-1970s, Nevada has had trouble maintaining a stable marketplace. One-by-one, medical malpractice insurance carriers have left the state or quickly become insolvent. In the years preceding 2001, several different carriers
were active in the Nevada malpractice market. Following 2001, the market began to crumble. The market leader, The St. Paul Company, along with other carriers, withdrew from Nevada. Shortly after, the
insurance commissioner at the time, Alice Molasky-Arman, held a hearing, which resulted in the formation of the Medical Liability Association of Nevada (MLAN). Since then, the market has improved and
stabilized encouraging market growth.
Major Medical Malpractice Insurance Companies in Nevada:
- Nevada Mutual Insurance Company
- Independent Nevada Doctors Insurance Exchange
- Medicus Insurance Company
- Capson Physicians Insurance
- The Doctors Company
- ProAssurance Company, Inc.
- Medical Protective Company
- Hudson Insurance Group
Nevada Medical Malpractice Insurance Rates - Top 15 Specialties
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||$12,126||$3,540||$25,313||854
|Family Practice No Surgery||$12,661||$3,540||$32,190||731
|Pediatrics No Surgery||$12,971||$6,734||$25,313||253
|Radiology - Diagnostic||$20,368||$8,429||$61,961||208
|Obstetrics and Gynecology Major Surgery||$71,895||$30,629||$183,884||204
|Orthopedic Surgery No Spine||$39,378||$14,084||$124,974||123
|Cardiovascular Disease Minor Surgery||$17,210||$9,925||$26,199||110
|Ophthalmology No Surgery||$8,844||$4,100||$14,451||108
|Gastroenterology No Surgery||$14,054||$7,657||$25,313||79
|Nephrology No Surgery||$12,126||$6,713||$25,313||72
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 Nevada.
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 Nevada compares to other states.