The rise and fall of medical malpractice insurance rates

It seems if anyone complains about doctors making too much money, doctors counter by pointing out such things as getting under-reimbursed by insurance companies or the high medical malpractice insurance rates they are forced to pay. Well, looks like doctors are going to have to take the malpractice insurance rate issue off the table, because rates have declined steadily since 2005. Continental Casualty Company (CNA) and Northwest Physicians Insurance Company (NPIC), the two biggest medical malpractice insurers in the state, have experienced an average decrease since 2005 of 18 percent.

In the early 2000s medical malpractice insurance rates rose at such a pace as to discourage some medical personnel from working in Oregon. The rising rates also prompted Ballot Measure 35 in 2004. Supported by insurance companies and medical groups, Measure 35 proposed a $500,000 cap on non-economic damage awards in cases of medical malpractice. The measure lost by a slim margin.

This was posted on Friday, May 8th, 2009 and is filed in the General categories.