Medical Malpractice Insurance in Virginia
Virginia’s medical malpractice insurance industry is experiencing a change in the market. For years, physicians enjoyed lower premium rates and an abundance of credits and dividends as the number of medical malpractice claims evened out.
While the number of claims has stayed relatively stable, the payouts for lawsuits have increased, and this increase in claims severity is causing a shift in the market. Insurance carriers must prepare for the financial risk of these significant settlements, and therefore Virginia physicians can expect to see an increase in premium rates.
Professional Risk represents six admitted carrier options as an independent agent, all rated "Excellent" by A.M Best in Virginia. This independence gives our clients flexibility when choosing their insurance carrier and gives physicians options based on their coverage needs and budget.
Our relationship with multiple admitted carriers also helps us create various insurance programs for physicians based on their specialty and the region they service. Insurance programs will become a valuable resource to help physicians save on premiums through this changing market.
Contact us today to be connected with an agent and to learn more about your options.