The New Mexico medical malpractice insurance market has a few very distinguishable features. First, standard market insurance carriers in the state only write occurrence medical malpractice policies. Claims-Made policies, therefore, are rarely written and can only be found in the non-standard market. Additionally, New Mexico is a patient compensation fund state. This fund is financed through assessing additional premium on all providers in the state. The limits of liability are typically $200,000/600,000; the primary insurance company (whoever a physician chooses to be insured by) will cover the first $200,000 (per occurrence) of a claim indemnity payment while anything in excess of $200,000 will be paid by the patient compensation fund. In order for a physician to have patient compensation fund access, they must have limits of $200,000/600,000 and they must be insured by a New Mexico state-admitted carrier.

Overall, the cost of malpractice insurance in New Mexico is moderate in comparison to the rest of the country. The rates have been relatively stable since the passing of the New Mexico Medical Malpractice Act in 1976, which was passed in response to the state’s largest medical malpractice carrier withdrawing in 1975. Among other things, the Act mandated a statute of limitations of three years and capped the dollar amount a plaintiff can recover in a medical malpractice suit to $500,000.

While New Mexico’s medical malpractice market is still competitive, the fact that the standard market insurance carriers only offer occurrence policies has limited the number of new entrants in the state.

Medical Malpractice Insurance Companies in New Mexico

  • Capson Physicians Insurance Company
  • Medical Protective Insurance Company
  • The Doctors Company
  • Applied Medico-Legal Solutions Risk Retention Group
  • Fairway Physicians Insurance Company

New Mexico 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 $200K / $600K limits

SpecialtyAverage RateMin RateMax RateCount
Family Practice No Surgery$8,847$3,874$11,344961
Occupational Medicine$5,291$2,695$6,933618
Internal Medicine No Surgery$8,549$4,633$11,344607
Pediatrics No Surgery$8,136$3,874$11,344358
Emergency Medicine$20,750$10,106$26,740349
Obstetrics and Gynecology Major Surgery$37,459$16,844$56,722210
General Surgery$28,014$10,106$39,615178
Radiology - Diagnostic$11,902$4,885$15,104174
Orthopedic Surgery No Spine$22,411$10,106$28,361126
Cardiovascular Disease Minor Surgery$11,907$6,401$15,882119
Ophthalmology No Surgery$6,057$2,358$9,075108
Pathology No Surgery$8,030$3,369$9,90477
General Practice No Surgery$8,847$3,874$11,34476
* 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 15 specialties in New Mexico.

New Mexico Medical Malpractice Rate Range Chart

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 New Mexico compares to other states.

Malpractice Rate Heat Map - United States