Michigan Medical Malpractice Insurance

Michigan Medical Malpractice Insurance Coverage

Coverage Requirements

In the State of Michigan, medical malpractice insurance coverage is not required of physicians by law.  However, most physicians are required to purchase coverage by their institutions and/or the health insurance companies with whom they work.  And, most providers do not feel comfortable "going bare" and facing the expenses of a medical malpractice law suit out-of-pocket and/or navigating the litigation process alone. 

The most common minimum limits of coverage are $200,000/$600,000.  This means that healthcare providers typically purchase medical malpractice insurance with coverage up to $200,000 per claim, and $600,000 aggregate.  “Aggregate” means that the policy will pay out up to a total of $600,000 in one policy year. 

What is the Med Mal Climate Like in Michigan?

Compared to other states, Michigan is a relatively inexpensive state for medical malpractice insurance, due to the low coverage limits and the fact that the state has enacted tort reform, putting a cap on non-economic damages.  And, because of this, there are many insurance companies that do business in Michigan, giving providers lots of good options. 

What Kind of Coverage is Available in Michigan?

Both Claims-Made and Occurrence-type coverage policies are available in the state.

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

As an agency, we have access to all of the major carriers in Michigan, including surplus lines/non-admitted carriers.   

Cost of Malpractice Insurance

As we mentioned above, the cost of med mal insurance in Michigan is relatively low, due to the low limits of coverage and the cap on non-economic damages.  That said, the counties in and around Detroit are the most expensive in the state, which is typical for large, metropolitan areas.   

In general, rates in Michigan for a first year, claims-made medical malpractice insurance policy, for an Internal Medicine physician who is claim free, can range from $3,800-$5,600/year. 

How to Lower the Cost of Your Medical Malpractice Insurance Coverage

Every practitioner should ask about discounts when shopping for coverage.  At Nexus, we are often able to offer discounts for 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?

Nexus Insurance Services is a medical malpractice insurance broker, established in 2004.  As a broker, we work for you and we can shop the market for you, reaching out to multiple insurance companies simultaneously.  With one application, we can provide you with a wide array of options and get you the most competitive pricing.  Also, as a firm, we specialize in med mal insurance and can provide coverage for both providers and practices of all sizes. And, if you are a practice, we can also provide general liability and cyber liability coverage for you, should you need it.

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

Additional Resources:

Glossary

Michigan Department of Insurance and Financial Services

Michigan Bureau of Professional Licensing

Michigan State Medical Society