Georgia Medical Malpractice Insurance

Georgia Medical Malpractice Insurance Coverage

Coverage Requirements

In the State of Georgia, medical malpractice insurance coverage is not required of physicians. That said, most institutions, medical facilities, and health insurance companies require coverage of their providers.  And, most physicians prefer to have peace of mind knowing that they will have an advocate to help them navigate any claims along with not having to pay out related lawyer fees and/or settlements out-of-pocket.     

The typical minimum limits of coverage in Georgia are $1M/$3M.  This means that healthcare providers usually purchase medical malpractice insurance with coverage up to $1M per claim, and $3M aggregate.  “Aggregate” means that the policy will pay out up to a total of $3M in one policy year. 

What is the Med Mal Climate Like in Georgia?

The Georgia medical malpractice insurance climate is not the best and not the worst in the US.  In July of 2005, Senate Bill 3 went into effect as a form of tort reform.  But, unfortunately, in March of 2010, the Georgia Supreme Court ruled that the Senate Bill 3's $350,000 cap per defendant on non-economic damages in medical malpractice suits was unconstitutional.  However, many elements of the bill remained intact that have had a positive impact on the climate in Georgia, including the general lowering of premiums, payout amounts for medical malpractice claims decreasing after it  took effect, and new carriers came into the state. 

What Kind of Coverage is Available in Georgia?

In Georgia, both Claims-Made and Occurrence-type coverage policies are available.

Who Can We Get You Malpractice Insurance Coverage with in the State of Georgia?

As an agency, we have access to all of the major medical malpractice insurance companies in Georgia, including surplus lines/non-admitted carriers.   

Cost of Malpractice Insurance

The state of Georgia is in the middle of the road regarding cost for medical malpractice insurance.  And, there are lots of great options available in the state, in terms of carriers.  Atlanta and the counties immediately around it are the most expensive in the state. 

In general, rates in Georgia for a first year, claims-made medical malpractice insurance policy, for an Internal Medicine physician who is claim free, can range from $3,800-$5,800/year. 

How to Lower the Cost of Your Medical Malpractice Insurance Coverage

At Nexus Insurance Services, we are able to offer discounts to providers for many situations, including being New-to-Practice, Claim Free, and/or having recently completed qualifying risk management CMEs, among others.     

How Can We Help You and Why Should You Choose Us?

Established in 2004, Nexus is a medical malpractice insurance broker and we specialize in med mal insurance.  We provide coverage for both medical providers and practices of all sizes.  And, as a broker, we shop the market for you, reaching out to multiple insurance companies at once, to provide you with a wide variety of options and to get you the most competitive price. 

In addition to providing medical malpractice insurance, we can also provide general liability and cyber liability coverage for your practice. 

Do you need coverage in Georgia?  If so, click here to request a free quote. 

Additional Resources:

Glossary

Georgia Office of Commissioner of Insurance and Fire Safety

Georgia State Medical Association