Maryland Medical Malpractice Insurance Costs Keep Dropping

MedicalMalpracticeLawyers.com reports that Medical Mutual Liability Insurance Society of Maryland, which insures more Maryland physicians than all other medical malpractice liability companies in Maryland combined, announced in December 2013 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.

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While Maryland doctors pay less, Maryland medical malpractice victims are compensated less.

Baltimore, MD (PRWEB) January 28, 2014

In its blog posting on January 16, 2014, MedicalMalpracticeLawyers.com reported that in 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.

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.”

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.

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.”

Medical Mutual looks out for and protects doctors in Maryland but who will look out for and protect Marylanders who suffer injuries and harms due to Maryland medical malpractice?

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