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Monday, September 8, 2008

TMLT CUTS RATES AGAIN

Texas Medical Liability Trust (TMLT) will reduce insurance premiums an average 4.7 percent and provide a 22.5-percent dividend for renewing policyholders, effective Jan. 1. This is TMLT’s sixth straight rate cut since the passage of our 2003 liability reforms. The cumulative savings for Texas physicians from TMLT alone amount to about $380 million. That’s more than all the liability insurance written for physicians each year in the entire state of Pennsylvania. Here’s another sign of the success of Proposition 12: The Texas Medical Board licensed a record 3,621 new physicians this fiscal year; that’s 9 percent more than the previous record of 3,324, set just last year. Texas has licensed 14,499 new physicians since the 2003 liability reforms passed.

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