Maryland Medical Malpractice Insurance Rates Keep Dropping

162017_132140396847214_292624_nIn December 2013, the Medical Mutual Liability Insurance Society of Maryland (“Medical Mutual”), which insures more Maryland physicians than all other medical malpractice liability companies in Maryland combined, announced a special dividend of 25% for its policyholders for 2014 in addition to the previous renewal dividend of 11% enjoyed by its members. This year’s special dividend is the sixth consecutive yearly dividend that Medical Mutual has provided to its policyholders. Since 2007, Medical Mutual has returned in excess of $269 million to its policyholders.

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The Maryland General Assembly created Medical Mutual in 1975, when another medical malpractice insurance company withdrew from the Maryland medical malpractice insurance market. The Maryland General Assembly established Medical Mutual “to provide: (1) for the payment of indemnities to persons that suffer injuries arising out of the rendering of or failure to render professional services by physicians or other health care providers; (2) a means for physicians or other health care providers to obtain insurance against liability for injuries arising out of the rendering of or failure to render professional services; and (3) property insurance and casualty insurance related to the provision of health care or to health care facilities used by physicians or other health care providers.” Annotated Code of Maryland, Insurance Article, Section 24-202.

The doctor-owned, doctor-directed Medical Mutual stated in its 2012 Annual Report, “We work together with the medical community to champion efforts to improve the legal environment for Doctors on professional liability issues. We have worked hand-in-hand with the MedChi to fight efforts to erode this environment both at the top appellate courts and in the General Assembly.” Medical Mutual reported total admitted assets in excess of $785 million and total policyholders’ surplus in excess of $331 million as of December 31, 2012.

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While Doctors Pay Less, Maryland Medical Malpractice Victims Are Compensated Less

Despite the Maryland General Assembly’s express purpose (one of three) in creating Medical Mutual was “to provide for the payment of indemnities to persons that suffer injuries arising out of the rendering of or failure to render professional services by physicians or other health care providers,” Medical Mutual emphasizes on its website, “We work tirelessly for our Insureds in the state and federal legislative arenas promoting meaningful tort reform. We consider it fundamental to our mission to serve as your advocate and defend and protect your practice and professional reputation … Our goal is to expand to meet the needs of our Physician members while remaining strong, sound and reliable.”

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Medical Mutual looks out for and protects doctors in Maryland but who will look out for and protect you if you or a loved one suffer injuries and harms due to Maryland medical malpractice?

It is imperative that you promptly speak with a Maryland medical malpractice lawyer if you or a family member may have been harmed to medical negligence in Maryland, to learn about your rights and responsibilities under Maryland medical malpractice law.

Click here to visit our website or call us toll-free at 800-295-3959 to be connected with Maryland medical malpractice lawyers who may investigate your Maryland medical malpractice claim for you and represent you in a Maryland medical malpractice case, if appropriate.

Turn to us when you don’t know where to turn.

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This entry was posted on Thursday, January 16th, 2014 at 9:13 am. Both comments and pings are currently closed.

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