Legislative/Malpractice
Medical Malpractice Rates in Ohio Decrease by Double Digits in 2007
Reported by: Ohio State Medical Association
The Ohio Department of Insurance has documented the decline of medical liability insurance rates for 2007; the states' five largest medical malpractice insurers filed changes producing an average decrease of 10.9% in 2007.
The rate changes for the state's top five medical malpractice insurers are as follows: The Medical Assurance Company -19.7% The Medical Protective Company -4.0% OHIC Insurance Company -10.0% The Doctors Company -7.6% American Physicians Assurance -7.0%
"Insuring and defending Ohio's physicians has been OHIC's mission for more than 28 years," said Nancy Libke, AIC, vice president of claims for OHIC, a subsidiary of The Doctors Company. "The positive changes made by the tort reform effort are bringing needed stability to the medical malpractice insurance market. We are seeing fewer cases that have no merit being filed and as a result frequency is down. It has stabilized the medical malpractice insurance arena and enabled us to better forecast our reserves, which ultimately results in how rates are adjusted."
Doctors getting break from malpractice rate hikes
Business Courier of Cincinnati October 12, 2007
Malpractice Update
A recent report by the Ohio Department of Insurance has stated that the once increasing price of medical malpractice insurance in Ohio is beginning to subside.
Read the entire article as reported in the Cincinnati Business Courier on January 19, 2006
New Tort Reform Changes Ohio’s Legal Climate
On April 7, 2005, Ohio’s legal climate changed significantly when Senate Bill 80, a new tort reform law, became effective. Senate Bill 80 passed the Ohio General Assembly in December and was signed by Governor Bob Taft in January. This comprehensive piece of legislation makes significant reforms to our legal system and ensures that both plaintiffs and defendants are treated fairly in the courts.
Key provisions of Senate Bill 80 include:
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Limitations on the amount of punitive damages recoverable from both large and small employers
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Limitations on the amount of non-economic damages recoverable for non-catastrophic losses
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Statutes of repose for both product and construction-related claims
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Modifications to Ohio’s collateral source rule
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Successor liability protection for certain asbestos-related claims
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Immunity for certain property owners
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Immunity from obesity claims