New Study Shows Pennsylvania Medical Malpractice Insurers Lost $18 Million Last Year
According to a new analysis by the state Department of Insurance, medical malpractice insurance underwriters lost $18 million last year, appearing to support industry claims that Pennsylvania’s tort system is driving insurers from the state. The analysis shows that 2002 was the fourth consecutive year that insurance underwriters in Pennsylvania lost money, taking into account between 70 and 80 insurers who are renewing medical malpractice insurance policies. Only 2 companies are currently writing new policies, making malpractice insurance not only more expensive for doctors, but more difficult to find, as well. The president of the Insurance Federation of Pennsylvania says that until the state reforms its legal system, the larger and more stable insurance companies will not do business in Pennsylvania.
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