The West Vir-ginia Mutual Insu-rance Company has been granted a 5 percent rate increase according to Insurance Commissioner Jane L. Cline.
West Virginia Mutual filed for the rate decrease with the Offices of the Insurance Commissioner in August. The decrease was granted Oct. 24, 2005.
“This rate decrease is evidence that we are achieving our goal of having an available, affordable and stable medical liability insurance climate in West Virginia,” Governor Joe Manchin III said.
West Virginia Mutual, which now covers 1,647 physicians, was created in July 2004 to address the medical malpractice crisis. “This is not only good new for physicians insured by the Mutual, it is another major step forward toward stabilizing the health care delivery system in our State” Dr. Robert Ghiz, chairman of West Virginia Physicians’ Mutual Insurance Company board of directors said.
The new rates take effect Jan. 1, 2006.
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