Rates for physician malpractice insurance can vary depending on where you practice within the state. Most major insurance companies classify Florida into 4-6 territories.
A few carriers separate Dade and Broward and rate Tampa higher than the Rest of State territory.
You will want multiple quotes to get an accurate view of the marketplace. This is one of the many reasons it’s important to work with an insurance agency that specializes in medical malpractice insurance. Below are mature, base rates with no credits or discounts at limits of $250,000 / $750,000. We typically get our clients a 15-30% reduction from these rates:
|
Specialty
|
Average Rate
|
|---|---|
|
Anesthesiology
|
$28,200
|
|
Internal Medicine
|
$22,200
|
|
Family Practice
|
$22,200
|
|
Dermatology
|
$15,100
|
|
Cardiology
|
$34,900
|
|
General Surgeon
|
$93,000
|
|
OB/GYN
|
$95,200
|
|
Orthopedic Surgeon
|
$61,700
|
|
Urologist
|
$40,100
|
|
Ophthalmic Surgeon
|
$27,100
|
|
Specialty
|
Average Rate
|
|---|---|
|
Anesthesiology
|
$20,100
|
|
Internal Medicine
|
$15,700
|
|
Family Practice
|
$15,700
|
|
Dermatology
|
$11,500
|
|
Cardiology
|
$23,200
|
|
General Surgeon
|
$71,300
|
|
OB/GYN
|
$75,200
|
|
Orthopedic Surgeon
|
$46,100
|
|
Urologist
|
$25,400
|
|
Ophthalmic Surgeon
|
$20,000
|
|
Specialty
|
Average Rate
|
|---|---|
|
Anesthesiology
|
$15,900
|
|
Internal Medicine
|
$13,100
|
|
Family Practice
|
$13,100
|
|
Dermatology
|
$10,000
|
|
Cardiology
|
$18,200
|
|
General Surgeon
|
$63,100
|
|
OB/GYN
|
$64,300
|
|
Orthopedic Surgeon
|
$41,200
|
|
Urologist
|
$22,500
|
|
Ophthalmic Surgeon
|
$17,200
|
|
Specialty
|
Average Rate
|
|---|---|
|
Anesthesiology
|
$14,200
|
|
Internal Medicine
|
$11,900
|
|
Family Practice
|
$11,900
|
|
Dermatology
|
$6,500
|
|
Cardiology
|
$16,400
|
|
General Surgeon
|
$51,700
|
|
OB/GYN
|
$55,000
|
|
Orthopedic Surgeon
|
$34,200
|
|
Urologist
|
$19,300
|
|
Ophthalmic Surgeon
|
$14,200
|
Limits of Liability: The most common limits of liability in Florida are $250,000 per claim with an annual aggregate of $750,000 million. However, many providers are electing to secure higher limits. Limits of $500,000/$1,500,000 and $1 Million / $3 Million are also available.
Most hospitals require a physician to carry malpractice insurance prior to granting admitting privileges. Some of the hospital systems requiring this include, but are not limited to: AdventHeath, Jackson Memorial Hospital, Tampa General Hospital, Baptist Hospital, Orlando Health, and Lakeland Regional Health.
The medical malpractice rules and regulations in Florida are both complex to navigate and ever changing. Tort reform was passed in 2003 which placed a cap on non-economic damages. With this reform, limits of $250,000 / $750,000 have become standard and considered a reasonable amount of insurance.
However, since 2003 the Florida Supreme Court has ruled that a cap on damages is unconstitutional. Subsequently, there have been several judgments well over $250,000. For this reason, some physicians and groups have elected to carry higher limits. Another component of in the history of Florida’s malpractice landscape is the number of carriers offering coverage in the state. This number has fluctuated greatly in last 20 years.
Florida has experienced a hard market with increased premiums as carriers withdrew from the state. Currently, the market is fairly stable with many standard, non-standard and risk retention groups offer competitive rates.
Specializing in malpractice insurance, tail coverage, and long term care insurance for physicians.
