For the fourth year in a row, most physicians and surgeons in Oregon will see a decline or no change in medical professional liability insurance rates, according to rate changes reviewd by the state Department of Consumer and Business Services Insurance Division.
According to DCBS, The Doctors Co. decreased average rates by 5.1 percent, beginning April 1, 2010. Continental Casualty Co. (CNA), which provides malpractice insurance for the Oregon Medical Association, recently indicated it would have no change in rates this year. The two insurers represent 57 percent of the medical professional liability insurance market in Oregon, DCBS. Their malpractice rates declined an average of 20 percent during the past five years, DCBS analysis indicated.
“Declining medical malpractice rates help us retain and attract doctors, and that’s good for Oregon,” said Cory Streisinger, DCBS director.
The DCBS Insurance Division reviews all rate changes by medical malpractice insurers that are authorized to do business in Oregon. However, only rate changes of more than 15 percent require approval.
Source: DCBS
Topics Trends Pricing Trends Oregon
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