For the last four years the majority of physicians and surgeons practicing in Oregon have seen a decline in medical professional liability insurance rates and this year is no different. With malpractice cases in the state declining steadily, Oregon’s two top medical liability insurers are reporting encouraging news for the local medical community.
Effective April 1st, The Doctors Company’s average rates have gone down by over five percent. At the same time the Oregon Medical Association’s malpractice insurance provider, Continental Casualty Company, reports that there will be no change in their rates in 2010. It is worth mentioning, though, that the company has dropped its rates for the past three years.
The Doctor’s Company and Continental make up 57 percent of Oregon’s medical professional liability insurance coverage and together their malpractice rates have dropped 20 percent over the last five years. It’s important to note that this was possible without tort reform factoring into the situation. Cory Streisinger, director of the Oregon Department of Consumer and Business Services comments: “Declining medical malpractice rates help us retain and attract doctors, and that’s good for Oregon.”