Undermining a talking point of organized medicine about tort reform, premiums for medical malpractice insurance for 3 bellwether specialties dropped for the fifth straight year in 2012, according to a new report published in Medical Liability Monitor (MLM).
The American Medical Association and other medical societies have argued that a broken medical liability system boosts insurance premiums for physicians. However, rates for obstetrician/gynecologists, general internists, and general surgeons decreased on average by 1.7% in 2012, following declines of 0.2% in 2011, 0.5% in 2010, 2.5% in 2009, and 4% in 2008, according to MLM's annual rate survey, which was released today. These declines, however, are dwarfed by annual premium increases topping 20% in 2003 and 2004.( Collapse )