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MCARE Act and other remedies have resulted in 5 to 8 percent reduction in medical malpractice costs, insurance study cites

But step-up in physicians’ basic coverage limits not recommended

(9/6/2023) - A report on the estimate of the impact of Act 13 commissioned by the Pennsylvania Insurance Department estimates that the MCARE Act and other measures have resulted in a “reduction in loss cost of between 5% and 8%.” But in a July press release, state Insurance Commissioner M. Diane Koken said she would hold off from increasing physicians’ primary malpractice insurance limit to $750,000 from $500,000, which is contemplated under the Act.

In her press release, Koken acknowledged that that actuarial study by Pricewaterhouse Coopers shows that “since the passage of Act 13 there have been improvements in the medical malpractice marketplace from a capacity standpoint - meaning there is more coverage available in the private market." However, Koken said the market conditions, as found in the study, “do not show sufficient additional capacity to support a 'step-up' in basic insurance limits at this point.”

"While the data illustrates movement in a positive direction, I have concerns that need to be allayed before I could responsibly allow the primary marketplace to increase the primary malpractice insurance limit to $750,000 from $500,000,” Koken said.




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